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155 N Raymond Ave, Pasadena, CA 91103
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155 N Raymond Ave Pasadena, CA 91103

$11,800,000
  • 40 Beds
  • 40 Baths
  • 21,982 Sq.Ft.
For Sale
$11,800,000 Get Pre-Qualified
Map preview of 155 N Raymond Ave, Pasadena, CA 91103

Property Overview: 155 N Raymond Ave Pasadena, CA has 40 bedrooms, 40 bathrooms, 21,982 living square feet and 9,028 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by KEVIN KWAN | BRE #01488390 | Realiv
Last checked: 7 minutes ago | Last updated: March 30th, 2024 | Source CRMLS | DOM: 167
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Home details

Lot Sq. Ft
9,028
HOA Dues
$0/mo
Year built
2002
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
WS23214697
City
Pasadena
County
Los Angeles
Time on Site
178 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 21
  • Total # of Buildings: 1
  • # of Leased Units: 19
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 5
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,573
  • Total Rent: $10,750
  • Pro Forma/Market Rent: $16,000
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,468
  • Total Rent: $4,900
  • Pro Forma/Market Rent: $6,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 0
  • Garage Spaces: 8
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,914
  • Total Rent: $9,190
  • Pro Forma/Market Rent: $10,000
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,205
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,165
  • Total Rent: $2,062
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 7
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,363
  • Total Rent: $2,050
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 8
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,258
  • Total Rent: $451
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Actual Rent: $474
  • Total Rent: --
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,678
  • Total Rent: $2,550
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 6
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,785
  • Total Rent: $7,050
  • Pro Forma/Market Rent: $9,600
Unit Breakdown 12
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,258
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $6,400
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $611,877
  • Net Operating Income: $304,956
  • Gross Operating Income: --
  • Other Income 1: $6,780
Annual Expense Breakdown
  • Total Operating Expense: $288,691
  • Electric: $10,605
  • Trash: $3,765
  • Insurance: $18,193
  • Professional Management: $30,255
  • Water/Sewer: $8,587
  • Other Expenses: $66,067

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Property Details for 155 N Raymond Ave

Interior Features
Laundry Information
  • Inside
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Park Nearby, Walkstreet
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Total # of Units: 21
  • Parcel Number: 5723021017
  • Year Built Source: Assessor
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Private
Location / Neighborhood
Location Information
  • Directions: N/of Colorado, S/ 210 Fwy, E/ of Fair Oaks, W/ of Marengo
View more facts & features

Local Pasadena Agent

Sale History for 155 N Raymond Ave

Last sold on September 20th, 2019

  • November, 2023

  • Nov 20, 2023

    Date

    Active

    CRMLS: WS23214697

    $12,800,000

    Price

  • August, 2023

  • Aug 22, 2023

    Date

    Expired

    CRMLS: WS23004363

    $13,800,000

    Price

  • Jan 10, 2023

    Date

    Active

    CRMLS: WS23004363

    $13,800,000

    Price

  • Listing provided courtesy of CRMLS

    18-Unit apartment complex with 1 Commercial Space with approximately 2,900 sf of rentable space. 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 3.78% Pro-Forma CAP rate and 16.86 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.

  • September, 2019

  • Sep 20, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 155 N Raymond Ave

Assessed Value (2020): $2,772,579
Year Land Value Improved Value Assessed Value
2020 $262,519 $2,510,060 $2,772,579

Home Value Compared to the Market

This property vs the competition

155 N Raymond Ave is listed 883.33% higher than the median list price for the city of Pasadena which has a median list price of $1,200,000. The median price per/sqft for Pasadena is $795 and this home is listed at $536.8 per/sqft which puts the price per square foot 32.48% lower than the median price per square foot for the city of Pasadena.

About 155 N Raymond Ave

Detailed summary of property

155 N Raymond Ave is a multi family located in Pasadena, CA 91103 and is currently for sale. This multi family property offers 40 bedrooms, 40 bathrooms, roughly 21,982 living square feet, and sits on an approximately 9,028 square foot lot. 155 N Raymond Ave was first listed on ArdentRealEstateGroup.com on November 21, 2023. The homeowner is currently asking $11,800,000 and was originally asking $12,800,000. The median priced home in Pasadena is $1,200,000 with a median price per square foot of $795. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 883.33% higher than the median priced home. Local competing homes currently for sale include 9150 Hyssop Dr and 2234 W Glen Helen Rd. While the average home in Pasadena, CA is selling in 54 days, 155 N Raymond Ave has a days on market of 167 days. There are currently 263 homes for sale in the Pasadena real estate market and 160 of them are single family homes while 78 of them are condos and 25 are townhomes. For more information on this home for sale at 155 N Raymond Ave Pasadena, CA 91103 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 155 N Raymond Ave

Public county record property details
Beds
--
Baths
--
Year built
2002
Sq. Ft.
21,982
Lot Size
9,028
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
21
APN
5723-021-017

The source for these homes facts are from public records.

91103 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,090,000
Median List Price/Sq.Ft.
$827
Median Sold Price
$1,129,000
Median Sold Price/Sq.Ft.
$776
Total Inventory
41
Median Sale to List Price %
100%
Avg Days on Market
32
Loan Type
Conventional (26.67%), FHA (0%), VA (0%), Cash (33.33%), Other (26.67%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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