Active
485 E Washington Blvd
Pasadena CA, 91104
$4,998,000
$360.63 per sqft
Active
25 Beds
24 Baths
13,859 sqft
Multi-family
Built in 1948
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.
24-456721
MLSⓇ ID
October 24, 2024
Listed
December 17, 2024
Updated
Map
485 E Washington Blvd
Pasadena CA, 91104
Interior Features
Total Stories
1
Bedrooms
25
Total Bathrooms
24
Appliances
Range/Oven
Laundry Description
Laundry Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s), Wall/Window
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.88 Acres
Other Property Details
Area Name
Pasadena NE
Days on Market
50
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% |
Listed by Alexander Metaxas with Realty Investment Advisors, Inc.
Listing Contact: 626-313-4901
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Lorissa Singleton shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 12/17/2024
