1609 Raymond Hill RD Active Save Request In-Person Tour Request Virtual Tour
South Pasadena,CA 91030
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,756 sqft
Price per Sqft $705
MLS Listing ID P1-19233
Year Built 1946
Lot Size 0.293 Acres
Property Description
1609 Raymond Hill Road offers an exceptional investment opportunity in prestigious South Pasadena. Rarely available, fully occupied rental income property with space to add additional dwellings via ADU laws. Current monthly rents are $11,540/month, $138,408/Year. Built in 1946 on the grounds of the Raymond Hotel, this 4 unit property consists of four, 2 bedroom, 1 bath apartments of approximately 950 square feet each. Built in an era of good quality apartment homes, the property was fully updated in 2004 with new roofs, central HVAC units for each of the four apartments, new plumbing and updates to the interiors. Bathrooms feature subway tile. All kitchens updated with granite countertops, stainless steel appliances. Bathrooms feature subway tile. Central entrance for all four apartments with two located on the main level and two upstairs The property attracts long term tenants who value amenities like in-home stackable laundry, fireplaces, hardwood floors, window nooks with seating, and very functional floorplans that are light and bright along with easy parking. Detached 4 car garage provides one space per tenant in addition, there are 4 more uncovered parking spaces on site. Triangular shaped parcel creates multiple yard spaces with large trees, sitting areas and room for tenants to host BBQ's. South Pasadena is well known for excellent schools, sense of community and great access to job centers in the region. This property abounds with quality and character while offering a savvy investor the opportunity to add value in a top quality rental market. One of the sellers is a licensed realtor.
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Rooms
Ensuite Laundry Washer Hookup,Inside,Stacked
Interior
Laundry Location Washer Hookup,Inside,Stacked
Heating Central
Cooling Central Air
Flooring Tile,Wood
Fireplaces Type Gas,Living Room
Laundry Washer Hookup,Inside,Stacked
Exterior
Exterior Feature Lighting,Rain Gutters
Garage Assigned,Asphalt,Driveway Down Slope From Street,Garage,Garage Door Opener,On Site,Off Street,Paved,One Space,Shared Driveway
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights
Utilities Available Cable Available,Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Composition
Building
Lot Description Back Yard,Front Yard,Sprinklers Timer,Sprinkler System
Story 2
Sewer Sewer Tap Paid
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard