221 Raymond Ave - Apartments FOR SALE
Pasadena, CA 91103 |
221 Raymond Ave
Pasadena, CA 91103
HIGHLIGHTS
- Seller Carry 5.50% Interest Only to Qualified Buyers / Protected from auto-reassessment after sale by the Mills Act. Property tax set at $22,325/YR.
- 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%
- 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.
FOR SALE DETAILS
PRICE
-
# OF UNITS
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CAP RATE
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% LEASED
-
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
8568
STORIES
2
YEAR BUILT
1898
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
5723-001-019
