485 E Washington Boulevard, Pasadena, CA 91104
-
Listed Price :
$4,998,000
-
Beds :
25
-
Baths :
24
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Property Size :
13,859 sqft
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Year Built :
1948
Property Description
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.
Interior Features
| Bedroom Information |
| Bedrooms |
25 |
| Bathroom Information |
| Bathrooms |
24 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
485 E Washington Boulevard |
| City |
Pasadena |
| State |
CA |
| Zip |
91104 |
| County |
Los Angeles |
| Listing Agent |
Alexander Metaxas DRE #01784652 |
| Co-Listing Agent |
Benjamin J. Hsiang DRE #01438644 |
| Courtesy Of |
Realty Investment Advisors, Inc. |
| List Price |
$4,998,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
13,859 |
| Lot Size |
38,252 |
| Year Built |
1948 |
Listing information courtesy of: Alexander Metaxas, Benjamin J. Hsiang, Realty Investment Advisors, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 19th, 2024 at 5:47 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
