




637 N Raymond Avenue, Pasadena, CA 91103
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 multi-unit property. 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 home'' layout across all three units reduces turnover risk and supports premium rents over time. With Pasadena's steady rental demand and limited 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.
Bedrooms
8
Bathrooms
5
Square Feet
3,418
Lot Size
6,587 sqft
Year Built
1930
Property Type
Triplex
Days on Market
1
HOA Fee
N/A
Garage Total
0
MLS #
226002022
Interior Features
Balcony, Recessed Lighting, Galley Kitchen
Flooring
Wood
Appliances
Refrigerator
Laundry
Common Area, Outside
Cooling
Central Air
Heating
Central
Total Parking Spaces
8
Parking Features
Driveway, Garage, Shared Driveway, Side By Side, Tandem, Uncovered
Lot Features
Back Yard, Corner Lot, Corners Marked, Lawn, Landscaped, Paved, Walkstreet, Yard
Curbs
$0
| Rating | School Name | ||
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Balanced market
Avg. time on market
This is a Balanced Market. Homes are selling at a moderate pace.
Flood Risk
Minimal — not in a FEMA flood zone
Wildfire Risk
Moderate — near wildland-urban interface
Heat Risk
Low — moderate summer temperatures
Earthquake Risk
Southern California seismic zone
Based on price, location, and features
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