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820 N Raymond Avenue

Pasadena, CA 91103

– beds
– baths
– sqft
~39 acre lot
1964 build
– on site

THE RAYMOND VILLA, a 50-unit value-add garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. The property is within walking distance (±1mile) to Rose Bowl Area and Old Town Pasadena, and situated on a quiet tree-lined street on Raymond Ave and Painter St. This investment offers an ASSUMABLE LOAN with ±57% Loan-To-Value (LTV) at very low 2.9% interest rates fixed until October 2026 and due in 28 years (October 2051). Just by assuming the current loan and operating the building as-is, the new owner could realize a stable ±7.29% cash-on-cash return on year-1 and a whopping ±13.35% return stabilized at proforma/market rent (Buyer to Verify). The property has brand new roofs (3 out of 4 buildings), upgraded electrical panel (each unit has 100amps breaker), and the parking soft story retrofit were recently completed. The Raymond Villa is an attractive two-story garden style community that was built in 1964 with ±36,228 SF building size and situated on a large ±51,227 SF / ±1.18-acre lot size. It has excellent curb appeal with mature trees in the front and a secure entrance and gated parking. Walking into the courtyard area, tenants will enjoy a fenced swimming pool, and multiple large and manicured garden planters and courtyard area that can be re-utilized as barbeque area, dog walking area, kids’ play area and other amenities. It offers an excellent unit mix of 30 x 2 bedrooms+1bathroom, and 20 x 1bedroom+1bathroom units. Each unit is large and bright with an excellent layout and a private patio/balcony. Each unit is separately metered for electricity (ALL ELECTRIC building). Each unit has windows A/C, wall heating, ceiling fans, mirrored closets, and plenty of linen cabinets. ±30 units have had some kind of upgrades which may include new kitchen (new cabinets + quartz/granite countertops), and/or new bathroom (new tiled bathroom/shower, new bathroom vanity, and hardware). Parking is provided by combinations of garage on the side, tuck-under parking in the back, and a detached carport in the back. There are 52 parking spaces with 8 garage spaces on the side, 30 tuck under parking in the back, and 14 spaces in a detached carport (buyer to verify). There are 2 laundry rooms with ±5 laundry machines in each room (total 10 machines) and all the machines belong to the owner and come with the sale. The property is separately metered for electricity.

Listed By CRMLS_CA / Han Chen / Growth Investment Group Pasade / han.chen@growthinvestmentgroup.com

Last checked: Checking… • Last updated Jun 21, 2025 •

MLS# AR25139098 —

The Building

Year Built:

1964
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

36228.00
Building Area Units:

Square Feet
Total Number Of Units:

50
# of Buildings:

1
Architectural Style:

Mid Century Modern
Roof:

Flat
Stories Total:

3
Entry Level:

1
Accessibility Features:

None
Common Walls:

2+ Common Walls
Faces:

South
# of Separate Gas Meters:

51
# of Separate Water Meters:

1
# of Separate Electric Meters:

51

Interior

Levels:

Three Or More
Entry Location:

1
Flooring:

Laminate, Vinyl, Wood
Number Wall AC:

50
Fireplace:

No
Fireplace:

None
Laundry:

Common Area, Community
Laundry:

1

Financial & Terms

Disclosures:

Rent Control

Location

Directions:

1 block north of Orange Grove Blvd, 1 block east of Fair Oaks Ave
Latitude:

34.16016300
Longitude:

-118.14861000

The Property

Property Type:

Residential Income
Subtype:

Apartment
Property Condition:

Repairs Cosmetic, Updated/Remodeled
Zoning:

PSR1
Lot Features:

Landscaped, Lawn, Level with Street, Lot Over 40000 Sqft, Rectangular Lot, Level, Near Public Transit, Sprinkler System
Lot Size Area:

1692742.0000
Lot Size Acres:

38.8600
Lot Size SqFt:

1692742.00
Lot Size Source:

Assessor
View:

1
View:

Mountain(s), Neighborhood
Fencing:

Wrought Iron
Fence:

Yes
Security Features:

Automatic Gate, Resident Manager, Smoke Detector(s)
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

U
Tax Census Tract:

4620.02
Tax Lot:

44

The Listing

Virtual Tour
Special Listing Conditions:

Standard
Parcel Number:

5725011023

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

Yes
Cooling:

Wall/Window Unit(s)

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Sewer:

Public Sewer
Electric:

Standard
Water Source:

Public

Appliances

Appliances:

Gas Range
Included:

Yes

The Community

Neighborhood:

Garfield Heights
Features:

Street Lights, Valley
Association:

No
Pool:

Community
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

Yes
Assessments:

Buyer to Verify

Parking

Parking:

Yes
Parking:

Assigned, Attached Carport, Community Structure, Controlled Entrance, Covered, Driveway, Asphalt, Private
Parking Spaces:

52.00
Garage Spaces:

8.00
Carport Spaces:

44.00

Extra Units

Number With Disposal:

50
Number With Refrigerator:

50

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
6/20/25 Jun 20, 2025	Listed / Active	CRMLS_CA	$14,900,000
7/13/23 Jul 13, 2023	Listed / Active	CRMLS_CA

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This multifamily located in Northwest Pasadena, Pasadena, CA 91103 is currently for sale for $14,900,000. 820 N Raymond Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 2 days. 820 N Raymond Avenue is in the Northwest Pasadena neighborhood of Pasadena and has a WalkScore® of 85, making it very walkable.

Listing Courtesy of: CRMLS_CA and Growth Investment Group Pasade. Based on information from California Regional Multiple Listing Service, Inc. as of 19:53 on Jun 22.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.