485 E Washington Boulevard

Pasadena , CA 91104

MLS#: 24456721

$4,990,000

Status: Active
Listing number: 24456721
Listing provided by: Realty Investment Advisors, Inc.
Listing agent phone: None
Last update: 20 days ago
On site: 9 months ago
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Property

Beds

25

Full Baths

None

1/2 Baths

None

Year Built

1948

Sq.Footage

13,859

OVER 6% CAP RATE 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+1bath 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.

Features & Amenities

Interior

  • Total Bedrooms

    25

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Wall/Window Unit(s)

  • Heating YN

    YES

  • Heating

    Wall Furnace

Exterior

  • Garage

    No

  • Parking

    Carport

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.8781

  • Property Type

    Residential Income

Price

  • Sales Price

    $4,990,000

  • Sq. Footage

    13, 859

  • Price/SqFt

    $360

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Senior Community YN

    NO

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Location

County

Los Angeles

Elementary School

Middle School

High School

Listing Courtesy of Alexander Metaxas , Realty Investment Advisors, Inc.

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(818) 321-0175

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OVER 6% CAP RATE 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+1bath 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.

485 E Washington Boulevard

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