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  • DESCRIPTION

    1609 Raymond Hill Road offers an exceptional investment opportunity in prestigious South Pasadena. Rarely available, fully occupied rental income property that can be financed with attractive loan rates. 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 apartments, 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.

    KEY DETAILS
    • Price:
    • $2,700,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • 3,756
    • Acreage:
    • 0.29
    • Year Built:
    • 1946
    • MLS #:
    • P1-6803
    • Street Address:
    • 1609 Raymond Hill Rd
    • City:
    • South Pasadena
    • State:
    • CA
    • Postal Code:
    • 91030
    • County:
    • Los Angeles
    • Area:
    • So. Pasadena
    • Subdivision:
    • Not Applicable
    • Listing Status:
    • For Sale - Active

    Building

    • Building Condition:
    • Updated/Remodeled
    • Building Faces:
    • East
    • Building Security:
    • Carbon Monoxide Detector(s), Smoke Detector(s)
    • Construction Description:
    • Stucco, Wood Siding, Copper Plumbing
    • Doors And Windows:
    • Mirrored Closet Door(s), Service Entrance
    • Entry Level:
    • 1
    • Exterior Features:
    • Lighting, Rain Gutters
    • Fireplace:
    • Gas, Living Room
    • Fireplace:
    • Yes
    • Flooring:
    • Tile, Wood
    • Interior Features:
    • Crown Molding, Granite Counters
    • Number Of Floors In Unit:
    • Two
    • Number Of Units:
    • 4
    • Stories:
    • 2
    • Stories:
    • 2
    • Style:
    • Colonial
    • Total # Of Buildings:
    • 1
    • Total Building Square Footage:
    • 3756
    • Type Of Roof:
    • Composition
    • Walls:
    • No Common Walls
    • Year Built:
    • 1946

    Business

    • Annual Insurance Expenses:
    • 3000
    • Annual Trash Expenses:
    • 2000
    • Annual Water/Sewer Expenses:
    • 3600
    • Gross Income:
    • 96060
    • Net Operating Income:
    • 84060
    • Operating Expense:
    • 12000

    Land

    • Approximate Lot Size Range Source:
    • Public Records
    • Conforms To Zoning:
    • Spr310000
    • Lot Features:
    • Back Yard, Front Yard, Sprinklers Timer, Sprinkler System
    • Lot Size:
    • 12765
    • Lot Square Footage:
    • 12765
    • Road Frontage Type:
    • City Street
    • Road Type:
    • Maintained, Paved

    Listing

    • Community Features:
    • Street Lights
    • Days On Market:
    • 3
    • Lease Rate:
    • 8805
    • On Market Date:
    • 2021-09-23
    • Originating Mls:
    • Crmls
    • Terms:
    • Cash, Cash To New Loan, 1031 Exchange

    Location

    • Subdivision:
    • Not Applicable

    Money

    • Tenant Pays:
    • Cable Tv, Electricity, Gas

    Rooms

    • Laundry:
    • Washer Hookup, Inside, Stacked

    Structures

    • Garage Parking Spaces:
    • 4
    • Has Garage:
    • Yes
    • Parking Description:
    • Assigned, Asphalt, Driveway Down Slope From Street, Garage, Garage Door Opener, On Site, Off Street, Paved, One Space, Shared Driveway
    • Parking Spaces:
    • 8
    • Uncovered Parking Spaces:
    • 4

    Systems

    • Appliances:
    • Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Microwave
    • Cooling System:
    • Central Air
    • Electricity:
    • 220 Volts
    • Existing Water:
    • Public
    • Has Central Air Conditioning:
    • Yes
    • Heating:
    • Central
    • Sewage Type:
    • Sewer Tap Paid
    • Utilities:
    • Cable Available, Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

    Units

    • Unit 10 Monthly Rent:
    • 2033
    • Unit 10 Total Bathrooms:
    • 1
    • Unit 10 Total Bedrooms:
    • 2
    • Unit 4 Monthly Rent:
    • 2600
    • Unit 4 Total Bathrooms:
    • 1
    • Unit 4 Total Bedrooms:
    • 2
    • Unit 5 Monthly Rent:
    • 2086
    • Unit 5 Total Bathrooms:
    • 1
    • Unit 5 Total Bedrooms:
    • 2
    • Unit 6 Monthly Rent:
    • 2086
    • Unit 6 Total Bathrooms:
    • 1
    • Unit 6 Total Bedrooms:
    • 2

    Source

    • Listing Provided By Rosey Bell of Coldwell Banker Realty

      CACRMLS
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    NOTES

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