485 E Washington Boulevard
Pasadena, CA 91104
13859 sqft | 25 beds | 0.88 acres | #24456721
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.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$5,195,000
- MLS #24456721
- MLS #24456721
- Cost4998000
- Acres0.8781
- Square Feet13859
- Year Built1948
- Bedrooms25
- Stories1
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Alexander Metaxas (#CLW-C106183)
Listing Office: Realty Investment Advisors, Inc. (#CLW-X82128)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
