485 Washington Boulevard, Pasadena, CA 91104
  • MLS#: 24456721 ( Multi-Family )
  • Street Address: 485 Washington Boulevard
  • Viewed: 21
  • Price: $4,998,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1948
  • Bldg sqft: 0
  • Days On Market: 123
  • Additional Information
  • County: LOS ANGELES
  • City: Pasadena
  • Zipcode: 91104
  • Provided by: Realty Investment Advisors, Inc.
  • Contact: Alexander Alexander
  • California Regional MLS IDX
  • DMCA Notice
  • 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.
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Features
Property Type
  1. Multi-Family
Views
  1. 21