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$ 4,998,000
Est. payment /mo
Active
485 E Washington Boulevard Pasadena, CA 91104
13,859 SqFt
UPDATED:
12/17/2024 09:46 PM
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
HOA Y/N No
Year Built 1948
Lot Size 0.878 Acres
Acres 0.88
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)
Fireplace No
Building
New Construction No
Others
Tax ID 5838040010
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Listed by Alexander Metaxas • Realty Investment Advisors, Inc.
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