820 N Raymond Avenue, Pasadena, CA 91103

THE RAYMOND VILLA a 50unit valueadd garden style apartment investment opportunity located in the highly desirable City of Pasadena CA The property is within walking distance 1mile to Rose Bowl Area and Old Town Pasadena and situated on a quiet treelined street on Raymond Ave and Painter St This investment offers an ASSUMABLE LOAN with 57 LoanToValue LTV at very low 29 interest rates fixed until October 2026 and due in 28 years October 2051 Just by assuming the current loan and operating the building asis the new owner could realize a stable 729 cashoncash return on year1 and a whopping 1335 return stabilized at proformamarket rent Buyer to Verify The property has brand new roofs 3 out of 4 buildings upgraded electrical panel each unit has 100amps breaker and the parking soft story retrofit were recently completedThe Raymond Villa is an attractive twostory garden style community that was built in 1964 with 36228 SF building size and situated on a large 51227 SF 118acre lot size It has excellent curb appeal with mature trees in the front and a secure entrance and gated parking Walking into the courtyard area tenants will enjoy a fenced swimming pool and multiple large and manicured garden planters and courtyard area that can be reutilized as barbeque area dog walking area kids play area and other amenities It offers an excellent unit mix of 30 x 2 bedrooms1bathroom and 20 x 1bedroom1bathroom units Each unit is large and bright with an excellent layout and a private patiobalcony Each unit is separately metered for electricity ALL ELECTRIC building Each unit has windows AC wall heating ceiling fans mirrored closets and plenty of linen cabinets 30 units have had some kind of upgrades which may include new kitchen new cabinets quartzgranite countertops andor new bathroom new tiled bathroomshower new bathroom vanity and hardware Parking is provided by combinations of garage on the side tuckunder parking in the back and a detached carport in the back There are 52 parking spaces with 8 garage spaces on the side 30 tuck under parking in the back and 14 spaces in a detached carport buyer to verify There are 2 laundry rooms with 5 laundry machines in each room total 10 machines and all the machines belong to the owner and come with the sale The property is separately metered for electricity

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It is important to conduct thorough market research, property inspection, and evaluation of potential expenses and risks before investing in any property. Real estate investments carry inherent risks, and it is essential to consult with professionals such as real estate agents, property managers, and financial advisors to make informed decisions. This estimate is a starting point in determining the monthly rental price for a specific property. Rental restrictions may apply for this home. It is the buyer's obligation to verify rental availability and details.

The rental real estate market in the 91103 area is expected to experience positive growth and stability in the coming years. Located in Pasadena, California, this neighborhood offers a desirable location with close proximity to various amenities, including shopping centers, parks, and schools. The demand for rental properties in 91103 is likely to remain strong due to the area's attractive features, such as its cultural diversity and historic charm. Additionally, with Pasadena being home to several renowned colleges and universities, there is a continuous influx of students looking for housing options. This sustained demand, combined with limited inventory, is expected to lead to increased rental prices and higher occupancy rates in the 91103 rental market. As a result, investors and property owners should see favorable returns on their real estate investments in this area. Overall, the rental real estate market outlook for 91103 appears promising, making it an attractive destination for both investors and renters alike.

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