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.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.Shared Features: Tenants enjoy a central courtyard designed for everyday use, a detached laundry structure with two pairs of machines, 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. This is a low-friction asset: stable tenants, desirable unit layouts, and a presentation that consistently attracts quality renters. The ''feels like a single-family 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, and income already in place. Don't miss your chance.
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8BEDS
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0.15ACRES
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5BATHS
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01/2 BATHS
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3,418SQFT
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$527$/SQFT
School Ratings & Info
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.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.Shared Features: Tenants enjoy a central courtyard designed for everyday use, a detached laundry structure with two pairs of machines, 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. This is a low-friction asset: stable tenants, desirable unit layouts, and a presentation that consistently attracts quality renters. The ''feels like a single-family 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, and income already in place. Don't miss your chance.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-05-15T22:35:44.57. 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 deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.