1609 Raymond Hill RD, South Pasadena, CA 91030

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$2,650,000

Est. payment - /mo

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0.29 Acres Lot

Active

1609 Raymond Hill RD South Pasadena, CA 91030

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/05/2024 05:25 AM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-19233

Construction Status Updated/Remodeled

HOA Y/N No

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

Interior

Interior Features Crown Molding, Granite Counters

Heating Central

Cooling Central Air

Flooring Tile, Wood

Fireplaces Type Gas, Living Room

Fireplace Yes

Appliance Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Microwave

Laundry Washer Hookup, Inside, Stacked

Exterior

Exterior Feature Lighting, Rain Gutters

Parking Features 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

Total Parking Spaces 8

Private Pool No

Building

Lot Description Back Yard, Front Yard, Sprinklers Timer, Sprinkler System

Faces East

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Water Public

Architectural Style Colonial

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5317023001

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Rosey Bell • Coldwell Banker Realty