485 E Washington Boulevard Active Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91104
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,859 sqft
Price per Sqft $360
MLS Listing ID CL24456721
Year Built 1948
Lot Size 0.878 Acres
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 Listing
Zoning PSR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Building
New Construction No