For Sale
820 N Raymond Avenue, Pasadena, CA 91103
  • $17,480,000
  • $483


Property ID: HZ9077240
  • Residential Income
  • Property Type
  • 8.00
  • Garages
  • 1964
  • Year Built


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).

  • Address 820 N Raymond Avenue
  • City Pasadena
  • State/county CA
  • Zip/Postal Code 91103
  • Area 646 - Pasadena (NE)
  • Country United States


Updated on July 14, 2023 at 2:15 am
  • Property ID: HZ9077240
  • Price: $17,480,000
  • Land Area: 51227.00 Sqft
  • Garages: 8.00
  • Year Built: 1964
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 36228.00
  • Living Area Prefix: Sqft
  • MLS#: AR23128477
  • Agent Name: Han Chen
  • MLS Status: Active
  • Agent State License: 01749321

Additional details

  • View: Mountain(s)
  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
  • County: Los Angeles
  • Property SubType: Apartment
  • Parking: 51.00
  • Water Source: Public

Mortgage Calculator

  • Principal & Interest
  • Property Tax
  • Home Insurance
  • PMI

Schedule a Tour

Your information

What's Nearby?

Please supply your API key Click Here

Contact Information

View Listings
Lianna Shahinyan

Enquire About This Property

0 Review

Sort by:
Leave a Review

Leave a Review

Similar Listings

Compare listings

Lianna Shahinyan
  • Lianna Shahinyan