1609 Raymond Hill Road
South Pasadena, CA 91030
0.29 acres | #P1-19233
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
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Rosey Bell (#p77)
Listing Office: Coldwell Banker Realty (#PF069)
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