637 N Raymond Avenue, Pasadena, CA 91103 (MLS# 226003501)

637 N Raymond Avenue, Pasadena, CA 91103

$1,799,999

Virtual Tour

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Property Type: Residential Income Bedrooms: 8 Baths: 5 Square Footage: 3,418 Lot Size (sq. ft.): 6,587 Status: Active

Current Price: $1,799,999 List Date: 8/09/2026 Last Modified: 8/09/2026

Overview

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 upda ... (Read more) 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 Details MLS# 226003501

General Property Information

# Bedrooms: 8
Baths - Full: 5
Baths - Total: 5
Approx SqFt: 3418
Lot Acres: 0.15
Lot SqFt: 6587
Year Built: 1930
Common Walls: No

Property Features

Land Lease Type: Fee Simple Special Conditions: Standard Terms: Other Possession: Close of Escrow Lot Description: Back Yard; Corners Established; Curbs; Fenced; Fenced Yard; Front Yard; Landscaped; Lawn; Paved; Sidewalks; Street Lighting; Street Public; Utilities - Overhead; Walk Street; Yard Lot Location: Corner Lot View Type: Tree Top View Other Property Features: Balcony; End Unit Other Structures: Barn w/Electricity; Shed; Stall(s) Property Condition: Updated/Remodeled Disclosures: Other Building Style: Arts & Crafts; Craftsman; Pueblo; Spanish Colonial Levels: Two Entry Location: Main Level; Top Level Appliances: Dryer; Refrigerator; Washer Cooking Appliances: Oven Kitchen Features: Galley Kitchen; Remodeled Flooring: Wood/Wood Like Cooling Type: Central A/C Heating Type: Central Furnace Interior Features: Living Room Balcony; Recessed Lighting; Turnkey Basement: Unfinished Laundry Locations: Community; Laundry Area; Outside Windows: Double Pane Windows Sewer: In Street Water: In Street Water Heater Feature: None Parking Type: Side by Side; Tandem Parking Features: Driveway; Shared Driveway; Uncovered

Listing Location and Property Info

Entry Date: 2026-07-23
Listing Price: 1799999
Street #: 637
Direction: N
Street Name: Raymond
Suffix: Avenue
County: Los Angeles
State/Province: CA
Zip Code: 91103
APN/Tax ID: 5725004008
Area: 645 - Pasadena NW
Country: US

Listing Info

Total # of Units in Complex: 3

Property Info

View: Yes
Dwelling Total Floors: 2
Pool: No
Spa: No
Fireplace: No
Senior Community: No

Units Information

# Separate Electric Meters: 3
# Separate Gas Meters: 3
# Separate Water Meters: Yes

More Information

HOA 1 Information

HOA: No

Listing Office: Keller Williams Westlake Village

Listing Agent: David Samuels
747-746-9817 | DavidMiltonSamuels@gmail.com

Agent Email: DavidMiltonSamuels@gmail.com

Last Updated: August - 09 - 2026

Based on information from the CSMAR Multiple Listing as of [date the AOR/MLS data was obtained]. 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.