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… Read More 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. Read Less
Listing courtesy of Keller Williams Westlake Village.David Samuels
Listing Snapshot
Days Online
46
Last Updated
Beds
8
Full Baths
5
Square Ft.
3,418
Lot Size
0.15 Acres
Year Built
1930
MLS Number
226002022
Additional Details
Appliances & Equipment
"Dryer", "Refrigerator", "Washer"
Building
Architectural style: "Pueblo", "Arts & Crafts", "Craftsman", "Spanish Colonial", Building area total: 3,418, Levels: "Two", 2 total stories, Built in 1930
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Based on information from the California Desert Association of REALTORS® as
of . All data, including all measurements
and calculations of area, is obtained from various sources and has not been, and
will not be, verified by broker or MLS. All information should be independently
reviewed and verified for accuracy. Properties may or may not be listed by the
office/agent presenting the information
Source: Desert Association of REALTORS Listings last updated on ,
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