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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.
Property Type(s):
Residential Income
| Last Updated | 9/12/2024 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1946 | Community | So. Pasadena |
| Garage Spaces | 4.0 | County | Los Angeles |
Additional Details
| 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 |
Location
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Listed with Coldwell Banker Realty
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