Active

637 Raymond Avenue

Pasadena, CA 91103

$1,799,999 $7,588/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

3,418

Sqft

6,587

Sqft(Lot)

Description

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.63 9 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, with beautifully refinished hardwood flooring that enhances its charm and appeal.Shared Features: Tenants enjoy a central courtyard designed for everyday use, a detached laundry structure equipped with newer washers and dryers, 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.Beyond its strong income profile, the property has benefited from substantial capital improvements over the past eight years. Ownership has invested heavily in the long-term condition and desirability of the asset, including the installation of central air conditioning in all three units, comprehensive kitchen and bathroom renovations throughout, interior and exterior repainting, upgraded recessed lighting, driveway improvements, roof flashing updates, and extensive landscaping enhancements. Recent exterior upgrades include a mature privet hedge along the Peoria frontage and an attractive planter feature at the Raymond Avenue corner, creating strong curb appeal from multiple vantage points. In 2026, the property's ductwork was professionally cleaned throughout, further supporting tenant comfort and system efficiency.This is a low-friction asset: stable tenants, desirable unit layouts, and a presentation that consistently attracts quality renters. The 'feels like a single 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, recent investment, and income already in place. Don't miss your chance.

Property Details

Property Type : ResidentialIncome

Price : $1,799,999

AD Id : 88327943

MLS Id : 226003501

Beds : 8

Lot Size : 6,587 Sqft

Living Area Size : 3,418

Year Built : 1930

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 8

Bathroom Information

Total Baths: 5 Full Baths: 5

Flooring Information

Wood
Interior Features

Balcony, RecessedLighting, GalleyKitchen

Appliances: Refrigerator

Laundry Features: CommonArea, Outside

Window Features: DoublePaneWindows
Heating & Cooling

Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

Building Information

Year Built: 1930

Stories: 2

Private Pool: No

Lot Information

Main Square Feet: 6587 Lot Size Acres: 0.1512 Lot Size Source: PublicRecords Lot Size Square Feet: 6,587 Lot Description: BackYard,CornerLot,CornersMarked,Lawn,Landscaped,Paved,Walkstreet,Yard

Listing Price Information

Listing Price: $1799999

Tax Information

Parcel Number: 5725004008

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 8 Driveway, SharedDriveway, SideBySide, Uncovered

Utility Information

OverheadUtilities
Location Information

Sell a home like this and save $107,501 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1969 N Raymond Avenue, Pasadena, CA, 91103	$1,198,000	3	2	1,339	1,339 SqFt
2070 El Sereno, Pasadena, CA, 91103	$1,230,000	3	2	1,791	1,791 SqFt
925 N Marengo Avenue, Pasadena, CA, 91103	$1,490,000	8	6	3,834	3,834 SqFt
1804 N Belmont Avenue N, Pasadena, CA, 91103	$875,000	3	1	1,128	1,128 SqFt
284 Wyoming, Pasadena, CA, 91103	$775,000	2	1	548	548 SqFt
637 N Raymond Avenue, Pasadena, CA, 91103	$1,799,999	8	5	3,418	3,418 SqFt
425 N Raymond Avenue, Pasadena, CA, 91103	$2,850,000	--	--	5,001	5,001 SqFt
66 W Peoria St, Pasadena, CA, 91103	$955,000	2	1	1,044	1,044 SqFt
1210 Glen Avenue, Pasadena, CA, 91103	$945,000	3	2	1,003	1,003 SqFt
769 N Orange Grove Boul.., Pasadena, CA, 91103	$2,250,000	6	--	3,395	3,395 SqFt