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155 N Raymond Avenue, Pasadena, CA 91103
$11,800,000
155 N Raymond Avenue, Pasadena, CA 91103View this property at 155 N Raymond Avenue, Pasadena, CA 91103
155 N Raymond AvenuePasadenaCA91103
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Property Description
18-Unit apartment complex with 1 Commercial Space with approximately 2,900 sf of rentable space. Motivated SELLER!!! Note on property is ASSUMABLE WITH A RATE OF 3.75% UNTIL 10/2026 or SELLER IS WILLING TO FINANCE THE DEAL WITH VERY REASONABLE RATE AND TERMS (CONTACT AGENT FOR MORE INFORMATION), contact agent for terms. Located in the heart of Old Town Pasadena this complex is just a few steps away from local eateries and bars, and also shops. The property was built in 2002 and shows pride of ownership with a well-maintained building and units. All units are approximately 900 sf is size and are all 2 bedrooms and 2 bathrooms and come with their own laundry units. There are a total of 29 surface and subterranean parking with 2 handicapped spaces. Situated in the heart of Old Town Pasadena, with a lot of 9,028 square feet. The property is located just 11.3 miles from Downtown Los Angeles and within 2 miles of three top major colleges Art Center College of Design, California Institute of Technology, and Pasadena City College. The property is also located 0.3 miles from the Parsons Corporation and 0.5 miles to Pasadena City Hall and approximately 4.6 miles to JPL. Across the street are Pasadena Memorial Park and the Memorial Park Metro Gold Line Station making an easy commute for those working in Downtown Los Angeles. Offered at a 3.90% Pro-Forma CAP rate and 15.52 Pro-Forma GRM, there is upside potential with below-market rents. These units are easy to rent due to their prime location and well-kept units. The property has very stable and long-term tenants in place.
Full Property Details
Full Property Details for 155 N Raymond Ave
General
- Price: $11,800,000
- Taxes: $147,200
- Status: Active
- Type: Commercial Multi-Family
- MLS ID: WS23214697
- Updated: 3/30/2024
- Days on Market: 159 days
- Added to Site: 159 day(s) ago
Interior
- Laundry Facilities: Yes
Rooms
Other Rooms
- Laundry: Inside
Location
- County: Los Angeles
- Driving Directions: N/of Colorado, S/ 210 Fwy, E/ of Fair Oaks, W/ of Marengo
Structural Information
- # Buildings: 1
- Entry Floor Number: 1
- Stories/Levels: 4
- Building Size: 21982
- Square Feet: 21,982
- Year Built: 2002
- Year Built Source: Assessor
Lot Features
- Lot Size (Acres): 0.2073
- Useable Acres: .2073
- Lot Size (Sq. Ft.): 9,028
- Lot Size Source: Assessor
- Lot Features: Park Nearby, Walkstreet
- Lot Description: Park Nearby, Walking Street
Financial Considerations
- Price Per Sq. Ft.: $536
- Expenses: $288,564
- Operating Expenses: $288,691
- Tax Amount: $147,200
Disclosures and Reports
- Buyer’s Brokerage Compensation: 1.75%
- Property ID: 5723021017
Listed by Realiv, KEVINKWAN
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Schools
Schools serving 155 N Raymond Ave
School District:Pasadena Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
325 S Oak Knoll Ave, Pasadena, CA 91101 | PK-8 | 1 mi | |
1201 S Marengo Ave, Pasadena, CA 91106 | 9-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 155 N Raymond Ave
Date
Details
Price
Change
Source
3/27/2024
Price Reduced
$11,800,000
-7.81%
MLS
11/20/2023
Listed
$12,800,000
4166.67%
MLS
1/29/1988
Sold
$300,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 155 N Raymond Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$46,122
8%
$2,912,360
2%
2022
$42,679
4%
$2,856,065
2%
2021
$40,865
4%
$2,800,874
1%
2020
$39,253
—
$2,772,579
4%
2019
$39,319
-1%
$2,677,774
2%
2018
$39,534
2%
$2,625,270
2%
2017
$38,886
3%
$2,573,795
2%
2016
$37,761
2%
$2,523,329
2%
2015
$37,137
3%
$2,485,427
2%
2014
$36,153
—
$2,436,742
—
2013
$36,054
—
$2,425,730
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 155 N Raymond Ave
155 N Raymond Avenue, Pasadena, CA 91103 (MLS# WS23214697) is a Commercial Multi-Family property. 155 N Raymond Avenue is currently listed for $11,800,000 and was received on November 20, 2023. Want to learn more about 155 N Raymond Avenue? Do you have questions about finding other Commercial Multi-Family real estate for sale in Pasadena? You can browse all Pasadena real estate or contact a Coldwell Banker agent to request more information.