1715 Raymond Hill Road, South Pasadena, California 91030, South Pasadena, 91030 - 0 bed, 0 bath
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South Pasadena, California 91030
This Quadruplex Residential Income property represents a High-Potential Investment Opportunity, listed at $2,250,000. While currently priced above the $2,034,929 Fair Market Value, the asset offers significant upside through its 3 Condition Rating and recent infrastructure upgrades, including seismic retrofitting and sewer line relining. The inclusion of preliminary plans for two 2-bedroom, 2-bathroom ADUs provides a clear path to maximizing cash flow. This is a strategic acquisition for Buy-and-Hold Investors and 1031 Exchange Buyers seeking stable income and long-term appreciation in South Pasadena.
Property is move-in ready.
Despite being built in 1946, the property is well-maintained with significant recent capital improvements including seismic retrofitting, sewer line relining, and new water heaters. The interior of the 'ready-unit' features brand new luxury wide-plank flooring and hardware, making it move-in ready, though other units and bathrooms appear functional but dated.
The property includes preliminary plans for two 2-bedroom, 2-bathroom ADUs and features unleased 4-car garages, offering a substantial opportunity to increase density and rental income.
Recent capital improvements, including seismic retrofitting and sewer line relining, mitigate common risks associated with older buildings and reduce immediate maintenance costs for the investor.
Located in a highly desirable South Pasadena neighborhood, the units offer high-demand features like in-unit laundry hookups, fireplaces, and a recently updated 'ready-unit' with luxury flooring.
Constructed in 1946, the property may still require ongoing upkeep of original systems not covered by recent upgrades, such as electrical or plumbing components typical of this era.
At a list price of $2.25M, the initial cap rate may be compressed, requiring the buyer to execute the ADU conversion or rent increases to achieve optimal investment returns.
This well maintained four-unit income property presents a rare opportunity for 1031 exchange buyers and long-term investors, seeking stable cash flow, future appreciation, and exceptional upside potential in South Pasadena's desirable neighborhoods. The detached 4-cars garages are currently un-leased, offering flexibility for additional rental income, storage opportunities, or potential ADU conversion. Preliminary 2 ADU plans that are 2 bedrooms 2 bathrooms each, will be included, giving buyers a valuable head start towards maximizing future cash flow. The recent capital improvements include: sewer line relining [pipeliner], and seismic retrofitting, additionally two water heaters had been recently replaced, contributing to the properties overall value and maintenance appeal. This charming property, blend timeless character, strong rental demand and exciting future development possibilities. Three of the four units feature in-unit washer and dryer hook ups, enhance convenience and tenant's appeal. Each unit offers a bright and air atmosphere with many natural light. Open concept living and dining areas, cozy fireplaces, spacious bedrooms, generous closet spaces. Each unit has rear door access leading to backyard. Ready-unit has been tastefully updated with brand new luxury water resistant wide-plank flooring and brand new hardwares. More amenities: Downtown Los Angeles, Fair Oaks retails and the Metro Gold-Line Station.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,006 | 2,859 | 50% |
| Lot Size | 8,120 | 8,437 | 50% |
| Price | $2.25M | $1.72M | 75% |
| Price per sq ft | $749 | $666 | 50% |
| Built year | 1946 | 1923 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 194 | 25% |
May 28, 2026
$2,250,000
Initial Listing
Aug 30, 2023
$2,040,000
Public Record
May 27, 2003
$651,000
Public Record