485 E Washington Blvd Active Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91104
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,859 sqft
Price per Sqft $360
MLS Listing ID 24-456721
Bedrooms 25
Year Built 1948
Lot Size 0.878 Acres
Acres 0.8781
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.
Location
State CA
County Los Angeles
Area Pasadena Ne
Zoning PSR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall Unit(s), Wall/Window
Equipment Range/Oven
Laundry Laundry Area
Exterior
Parking Features Carport, Uncovered
Garage Spaces 20.0
Building
Story 1
Level or Stories One
Others
Special Listing Condition Standard