Pasadena, CA 91103,221 N Raymond Avenue
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Pasadena, CA 91103,221 N Raymond Avenue
Pasadena, CA 91103,221 N Raymond Avenue
Pasadena, CA 91103,221 N Raymond Avenue
Pasadena, CA 91103,221 N Raymond Avenue
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$ 5,120,000
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221 N Raymond Avenue Pasadena, CA 91103

8,568 SqFt


UPDATED:

03/10/2025 07:41 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

Year Built 1898

Lot Size 7,408 Sqft

Acres 0.17

Property Sub-Type Other

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 4.40% 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

Zoning PSC-

Interior

Fireplace No

Laundry Inside

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 5723001019


Bridge MLS
Listed by ALBERT LE • LE INVESTMENT GROUP
agent
E3 Realty

Broker | DRE# 01726225

+1(925) 603-3615 | contact@e3realty.com

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221 N Raymond Avenue