$ 5,120,000
221 N Raymond Avenue Pasadena, CA 91103
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Listed by ALBERT LE • LE INVESTMENT GROUP
$ 5,120,000
Est. payment /mo
Active
221 N Raymond Avenue Pasadena, CA 91103
8,568 SqFt
UPDATED:
11/19/2024 12:50 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,568 sqft
Price per Sqft $597
MLS Listing ID CRIV24236416
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1898
Lot Size 7,408 Sqft
Property Description
HIGHLIGHTS: The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year / Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses. / Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award / Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom. / Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions / Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place. ) (MILLS ACT PROTECTED PROPERTY) The Historic Fannie Bonham Row House at 221 N Raymond Ave, Pasadena, CA, is a meticulously restored property and the only remaining example of rowhouse construction in the city! The property features a desirable unit mix, including six (6) single-story, 1-bedroom, 1-bathroom units, and three (3) townhouse-style, 2-bedroom, 2.5-bathroom units. Each townhouse unit also includes a bonus room in the master bedroom, offering flexible space ideal for a nursery,
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Inside
Building
Water Public
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