Active
485 E Washington Boulevard
Pasadena CA, 91104
$4,998,000
$360.63 per sqft
Active
25 Beds
24 Baths
13,859 sqft
Residential
Built in 1948
Listed by Alexander Metaxas with Realty Investment Advisors, Inc. 626-313-4901
OVER 6% CAP RATE AND 10.93 GRM ON CURRENT RENTS! Great investment offering at under $250k per unit on almost 1 acre of land. A Buyer could be looking at over a 6% CASH ON CASH RETURN with this property even with today's interest rates. Cash cow opportunity in super strong rental location with bulletproof buildings on a large lot with BIG UPSIDE! Possibilities for ADU and great rent growth make this one of the best opportunities in Pasadena right now. With mostly single-story floor plans offering a unit mix of One 3Bed+2bath, Three 2Bed+2bath and 16 spacious 1Bed+1bath units. Each unit is equipped with wall-mounted air conditioning and heating, a mix of tile and carpet flooring, and expansive kitchens with gas oven/stove combinations. The property is well-maintained, showcasing an open grass courtyard, an on-site laundry facility that yields a steady flow of income with open and carport parking.
24456721
MLSⓇ ID
October 24, 2024
Listed
December 19, 2024
Updated
Map
485 E Washington Boulevard
Pasadena CA, 91104
Interior Features
Total Stories
1
Bedrooms
25
Total Bathrooms
24
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.88 Acres
Other Property Details
Area Name
646 - Pasadena (NE)
Days on Market
51
Garage
No
Parking
Carport, Uncovered
Parking Total
20
View
No
County
Los Angeles
Pool
No
Zoning
PSR3
Listing History
Date | Event | Price |
|---|---|---|
12/17/2024 | Price change | $4,998,000 -4% |
Listing Contact:
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/19/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/19/2024 at 7:40 PM UTC