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In a market where yield matters, 637 N Raymond Ave delivers a clean, well-positioned triplex with strong in-place income and a cap rate projected above 4%. This corner-unit property is thoughtfully configured so each residence lives more like a standalone home than a multifamily unit. Distinct architectural identities create natural appeal and long-term retention: 637 N Raymond Ave (3BR/2BA) - Currently leased at $3,450/month. A classic Arts & Crafts residence with updated kitchen finishes, recessed lighting, and basement storage. Direct access to the shared courtyard enhances livability.635 N Raymond Ave (2BR/1BA) - Currently leased at $2,600/month. Recently refreshed with a bright, open layout, galley kitchen, and subtle Santa Barbara influences--arched details and light, airy interiors.639 N Raymond Ave (3BR/2BA) - Currently leased at $3,600/month. An upper-level unit with a private balcony, wrought-iron stair details, and elevated neighborhood views. Thoughtfully updated and highly rentable in its current condition.Shared Features: Tenants enjoy a central courtyard designed for everyday use, a detached laundry structure with two pairs of machines, and ample on-site parking via dual driveways--an increasingly valuable amenity in this part of the city. Separate gas and electrical meters also help streamline operations. This is a low-friction asset: stable tenants, desirable unit layouts, and a presentation that consistently attracts quality renters. The ''feels like a single-family home'' layout across all three units reduces turnover risk and supports premium rents over time. With Pasadena's steady rental demand and limited multifamily inventory, this property sits in a strong position for both immediate returns and long-term hold strategy.Opportunities like this don't circulate often--especially with this level of character, configuration, and income already in place. Don't miss your chance.
Property Type(s):
Residential Income
| Last Updated | 5/1/2026 | Year Built | 1930 |
|---|---|---|---|
| Community | 645 - Pasadena (NW) | County | Los Angeles |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Refrigerator |
| AREA | 645 - Pasadena (NW) |
| EXTERIOR | Balcony |
| HEAT | Central |
| INTERIOR | Recessed Lighting |
| LOT | 6586 sq ft |
| LOT DESCRIPTION | Back Yard, Corner Lot, Corners Marked, Landscaped, Paved |
| LOT DIMENSIONS | 6587 |
| PARKING | Driveway, Shared Driveway, Side By Side |
| STORIES | 2 |
| STYLE | Craftsman |
| VIEW | Yes |
Location
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Listed with Keller Williams Westlake Village
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