$4,998,000
- Beds
- 25
- sq ft
- 13,859
485 E Washington Blvd, Pasadena, CA 91104
485 E Washington Blvd
Pasadena, CA 91104
- 59 days on market
- Price drop $197,000↓
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.
Details
Property type
Lot size
0.8781 acres
Price per sq ft
$361
Year built
1948
HOA
No
Price History
12/17/2024
CLAW #24456721
Price change
$4,998,000
-3.79%
12/13/2024
CLAW #24456721
Listed
$5,195,000
12/10/2024
CLAW #24456721
Removed
$5,195,000
Schools & Community
Neighborhood:
North Central
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 12/22/2024 at 10:55 PM
Listing updated: 12/21/2024 at 4:50 PM
Listed by: Alexander Metaxas, Realty Investment Advisors, Inc.
MLS: CLAW #24456721
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