$2,650,000
For Sale

1609 Raymond Hill Road

South Pasadena, CA 91030
Listing OfficeColdwell Banker Realty
Browse 177 photos
Type:Multi-Family
Structure:4 Family
Zone:Residential

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.

  • Interior Details
      • InteriorCrownMolding, GraniteCounters
  • Property Details
      • Lot DescriptionBackYard, FrontYard, SprinklersTimer, SprinklerSystem
      • Exterior MaterialsLighting, RainGutters
      • Stories2
    • Measurements
      • Acres0.293
    • Parking
      • Parking Spaces4
  • Construction Details
      • Property TypeMulti-Family
    • Condition
      • Year Built1946
  • Utilities / Energy Details
      • Utility FeaturesCableAvailable, CableConnected, ElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
      • Sewer InformationSewerTapPaid
      • Utility SourcePublic
  • Community and Neighborhood Details
      • SubdivisionNot Applicable
    • Location
      • CountyLos Angeles
  • Financial Details
      • Original List Price$2,650,000
  • Other
      • MLS #P1-19233

Location

Joshua HenryBerkshire Hathaway Home Services California Properties
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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Loan Amount
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