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$5,120,000
35 Days On Site

221 N Raymond Avenue
Pasadena, CA91103

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
8,568
SqFt
$598
/SqFt
1898
Built
County:
Los Angeles
Listed by ALBERT LE of LE INVESTMENT GROUP [email protected]

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562.846.5359
221 N Raymond Avenue221 N Raymond Avenue221 N Raymond Avenue221 N Raymond Avenue
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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 4.63% 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, home office, or additional bedroom. This historic building underwent an extensive restoration to preserve its original architectural details while modernizing essential key building systems. Jackson Milling & Lumber, Inc. contributed significantly to this effort, utilizing custom-milled Douglas fir to replace wood siding & replicate intricate crown moldings true to the materials used in the original construction. Additionally, American Window Restoration repaired or replaced all windows to maintain historical accuracy. This dedication to preserving the building's heritage earned it a Historic Preservation Award from the City of Pasadena and recognition from then-Senator Anthony Portantino.

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Listing Snapshot
Price 
$5,120,000
Days On Site 
35 Days
Bedrooms 
N/A
Inside Area (SqFt) 
8,568 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1701 Acres
Year Built 
1898
MLS® Number 
IV24236416
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a month agoStatus changed to Active
a month agoListing updated with changes from the MLS®
a month agoListing first seen on site
General Features
Acres 
0.1701
Number Of Stories 
2
Parking 
GatedOff Site
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
8568
Style 
See Remarks
Water Source 
Public
Zoning 
PSC-
Interior Features
Laundry Features 
Inside
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Exterior Features
Fencing 
Wrought Iron
Pool Features 
None
Community Features
Building Access 
1
Community Features 
CurbsStreet LightsSuburban
Financing Terms Available 
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MLS Area 
646 - Pasadena (NE)


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. The 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, the 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.

Neighborhood & Commute
Source: Walkscore
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