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221 Raymond Ave
Pasadena, CA 91103 Old Town Pasadena

$5,120,000 USD

Apartments For Sale • 8,568 SF

Property Details

Property Type Apartments
Total Building Size 8,568 SF
Lot Size 0.17 AC
Building Class C
Year Built 1898
Zoning PSC-

73 Transit Score

96 Walk Score

                
                    Highlights
                
                                The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year
                            
                                Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses.
                            
                                Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award  
                            
                                Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom.
                            
                                Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions
                            
                                Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place.

Public Transportation

Commuter Rail	Drive	Walk	Distance
Glendale (Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	12 min	-	9.0 mi
Transit/Subway	Drive	Walk	Distance
Memorial Park Station (Gold Line - Los Angeles County Metropolitan Transportation Authority (Metro))	0 min	4 min	0.2 mi
Del Mar Station (Gold Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	13 min	0.5 mi
Airport	Drive	Walk	Distance
Bob Hope	22 min	-	16.6 mi
Los Angeles International	39 min	-	24.9 mi
Long Beach (Daugherty Field)	41 min	-	26.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Type:	Surface
Included in Rent:	Yes

Anthony Le 714-423-3819 Le Investment Group

221 Raymond Ave Pasadena, CA 91103 Old Town Pasadena

$5,120,000 USD

Property Details

Highlights

Public Transportation

Parking Details

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221 Raymond Ave
Pasadena, CA 91103 Old Town Pasadena