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820 N Raymond Avenue
USD 17,480,000
Property ID: AR23128477
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820 N Raymond Avenue ,91103
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icon 51227 SqFt
icon Built in 1964
icon USD 341/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
36228
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1964
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Detailed Introduction Of This Home
THE RAYMOND VILLA, a 50-unit true value-add garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. This offering provides an extremely rare opportunity for investors to acquire a true value add building this size in a good location that is close to almost all amenities City of Pasadena has to offer. The property is within walking distance (±1mile) to Rose Bowl Area and Old Town Pasadena, and situated on a quiet tree-lined street on Raymond Ave and Painter St. This investment offers an ASSUMABLE LOAN with ±50.8% Loan-To-Value (LTV) at very low 2.9% interest rates fixed until October 2026 and due in 28 years (October 2051). Just by assuming the current loan and operating the building as-is, the new owner could realize a stable ±5.15% cash-on-cash return on year-1 and a whopping 10.05% return stabilized at proforma/market rent (Buyer to Verify). The combination of this excellent assumable loan, great location, and its true value-add potential made this offering an excellent investment for a savvy investor. The Raymond Villa is an attractive two-story garden style community that was built in 1964 with ±36,228 SF building size and situated on a large ±51,227 SF / ±1.18-acre lot size. It has excellent curb appeal with mature trees in the front and a secured entrance and gated parking. Walking into the courtyard area, tenants will enjoy a fenced swimming pool, and multiple large and manicured garden planters and courtyard area that can be re-utilized as barbeque area, dog walking area, kids’ play area and other amenities. The Raymond Villa offers an excellent unit mix of 30 x 2bedroom+1bathroom, and 20 x 1bedroom+1bathroom units. Each unit is large and bright with an excellent layout and a private patio/balcony. Each unit is separately metered for electricity (ALL ELECTRIC building). Each unit has windows A/C, wall heating, ceiling fans, mirrored closets, and plenty of linen cabinets. ±26 units have had some kind of upgrades which may include new kitchen (new cabinets + quartz/granite countertops), and/or new bathroom (new tiled bathroom/shower, new bathroom vanity, and hardware).
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Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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820 N Raymond Avenue
USD 17,480,000 0 Beds
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