$ 5,195,000
485 E Washington BLVD Pasadena, CA 91104
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$ 5,195,000
Est. payment /mo
New
485 E Washington BLVD Pasadena, CA 91104
19 Beds
19 Baths
13,859 SqFt
UPDATED:
10/24/2024 11:39 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,859 sqft
Price per Sqft $374
MLS Listing ID 24456721
Bedrooms 19
HOA Y/N No
Year Built 1910
Lot Size 0.878 Acres
Acres 0.8781
Property Description
We are proud to present a multifamily investment opportunity at 485 East Washington Boulevard in Pasadena. Situated on a generous lot of approximately 38,240 square feet, 485 East Washington Boulevard features spacious, highly desirable single-story floor plans. 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, mature landscaping, an on-site laundry facility, and ample off-street parking, including carport options.With a strong historical occupancy rate, 485 East Washington Boulevard currently generates $423,072 in annual rental income. There is significant potential for increased rental revenue, with comparable 1-bedroom/1-bathroom, 2-bedroom/2-bathroom, and 3-bedroom/2-bathroom units in the area averaging $2,338 per month.This prime Pasadena income-generating property represents an excellent long-term investment opportunity. Its desirable location ensures stability for all types of investors, whether first-time buyers, seasoned professionals, or those seeking a 1031 exchange opportunity.
Location
State CA
County Los Angeles
Area 646 - Pasadena (Ne)
Zoning PSR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Garage Carport, Uncovered
Carport Spaces 7
Parking Type Carport, Uncovered
Total Parking Spaces 15
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5838040010
Special Listing Condition Standard
Listed by Alexander Metaxas • Realty Investment Advisors, Inc.