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.
|
DAYS ON MARKET
|
49
|
LAST UPDATED
|
9/12/2024
|
|
TRACT
|
Not Applicable
|
YEAR BUILT
|
1946
|
|
COMMUNITY
|
So. Pasadena
|
GARAGE SPACES
|
4.0
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Microwave |
| AREA |
So. Pasadena |
| CONSTRUCTION |
Copper Plumbing, Stucco, Wood Siding |
| EXTERIOR |
Lighting, Rain Gutters |
| FIREPLACE |
Yes |
| GARAGE |
Asphalt, Assigned, Driveway Down Slope From Street, Garage, Garage Door Opener, Off Street, On Site, One Space, Paved, Shared Driveway, Yes |
| HEAT |
Central |
| HOA DUES |
0 |
| INTERIOR |
Crown Molding, Granite Counters |
| LOT |
0.29 acre(s) |
| LOT DESCRIPTION |
Back Yard, Front Yard, Sprinkler System, Sprinklers Timer |
| PARKING |
Assigned,Asphalt,Driveway Down Slope From Street,Garage,Garage Door Opener,On Site,Off Street,Paved,One Space,Shared Driveway |
| POOL DESCRIPTION |
None |
| SEWER |
Sewer Tap Paid |
| STORIES |
2 |
| STYLE |
Colonial |
| SUBDIVISION |
Not Applicable |
| UTILITIES |
Cable Available,Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: 220 Volts |
| VIEW DESCRIPTION |
None |
| WATER |
Public |
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Listed with Coldwell Banker Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 6:20 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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