Est. cap rate

2.5%

Assumed rent, all units

$5,600/mo

Units

2

Price per unit

$675,000

Est. annual NOI

$33,600

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

4

Bathrooms

2

Building size

1,812 sqft

Lot size

7,673 sqft

Year built

1923

Stories

2

Garage spaces

0

Heating

Central

Cooling

Central Air

Pool

None

View

Neighborhood

Status

Active

Days on market

72

MLS #

244924205

About this property

This Uncommon Property, tucked between two tree-lined streets in one of Pasadena's most storied neighborhoods, a 1923 duplex, offers a rare blend of vintage character, flexibility, and upside. Each unit offers 2 bedrooms and 1 bathroom, in-unit laundry, and central air — one unit up, and one down, giving each residence its own sense of privacy and separation. A driveway and a two-car carport provides convenient off-street parking for both units. What truly makes this property uncommon are its bonus spaces: a professional music studio and a dedicated movement studio. Buyer, be sure to verify permitted uses and any rental potential with the City of Pasadena; — whether rented out to musicians, instructors, or creatives, or used to generate revenue alongside the residential units themselves. Combined with the two rental units, this property offers flexible live/work possibilities; buyer to verify permitted uses. This property presents multiple income opportunities under one roof, making it a compelling option for gifted owner-users looking to offset their mortgage. Outside, thoughtfully placed trees and shrubs frame the grounds, creating inviting areas for both entertaining and quiet relaxation. A newer roof, replaced within the last 5 years, per seller, adds peace of mind for years to come, helping to preserve the integrity of this 1923 gem. Great nearby access to a library, the Rose Bowl, Old Town, Huntington Hospital and the park across the street. Whether you're drawn to its historic charm, its income potential, or its rare live/work flexibility, this Pasadena duplex is a special find in the Fair Oaks/Orange Grove neighborhood, where properties like this rarely come available.

Location

1394 N Raymond

Pasadena, Los Angeles, CA, 91103