31
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$4,800,000
Est. payment /mo
3 Beds
4 Baths
Active
221 N Raymond Avenue Pasadena, CA 91103
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV25123951
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
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 4.69% With a ProForma CAP Rate of 5.63% / 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 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, home office, or additional bedroom. This historic building underwent an extensive restoration to preserve its original architectural details while modernizing essential key building systems. Jackson Milling & Lumber, Inc. contributed significantly to this effort, utilizing custom-milled Douglas fir to replac
Location
State CA
County Los Angeles
Zoning Assessor
Direction Raymond Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5723001019
Listed by ALBERT LE LE INVESTMENT GROUP