NEW! Buy and sell safely with virtual options - Learn More
About the Listing VCR-CG13890001 - VCR-C159054006
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, 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.
Listing Highlights
Status
Active
Days on Site
65
Property Type
Residential
MLS ®
226002022
Year Built
1930
Total Square Footage
3,418
Lot/Acreage
0.15
County
Los Angeles
Area
645 - Pasadena (NW)
Interior Details
- Bedrooms: 8
- Bathrooms: 5 Full
- Appliances: Refrigerator
- Air Cond: Central Air
- Heating: Central
- Fireplaces:
- Floor: Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Balcony,Recessed Lighting,Galley Kitchen
- Water:
Exterior Details
- Lot Description: Back Yard,Corner Lot,Corners Marked,Lawn,Landscaped,Paved,Walkstreet,Yard,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 8
- Zoning: PSR1
- Roof:
- Others: Updated/Remodeled
- Sewer:
- Parking Features: Driveway,Garage,Shared Driveway,Side By Side,Tandem,Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5725004008
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
637 N Raymond Ave Pasadena, CA 91103
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
