485 E Washington Blvd Pasadena, CA 91104
Active
$5,195,000
20 Units
25 Beds
24 Baths
13,859 Area(sq.ft.)
38,252 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | 1 | 1 | No | $ 1,759 | $ 28,140 | $ 33,600 |
| Unit 2 | 3 | 2 | 2 | No | $ 2,126 | $ 6,378 | $ 7,500 |
| Unit 3 | 1 | 3 | 2 | No | $ 2,187 | $ 2,187 | $ 2,700 |
| 3 | 20 | 25 | 24 | $ 36,709 | $ 471,561 | $ 562,800 |
| MLS #: | 24-456721 |
| Days On Market: | 8 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 375 |
| Price per unit: | $ 259,750 |
| Year Built: | 1948 |
Property Details
5% Cap Current Rents with this multifamily investment opportunity with significant UPSIDE! With a large lot of about 38,240 square feet there is great potential for ADU possibilities. With mostly ideal 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, mature landscaping, an on-site laundry facility, and ample off-street parking, including carport options. This bread and butter apartment property is a money maker and secure long-term investment play and excellent 1031 exchange opportunity.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 431,891 |
| Total Annual Expense: | $ 170,962 |
| Net Operating Income: | $ 260,929 |
| Gross Annual Income: | $ 445,248 |
| Cap Rate: | 5.02% |
| Gross Rent Multiplier: | 11.67 |
Structure
| Type of Units: | Apartments |
| Buildings: | 4 |
| Levels: | One |
Land & Parking
| Zoning: | PSR3 |
| Parking Garage: | Carport, Uncovered |
| Total Parking: | 20 |
Interior
| AC/Cooling: | Wall Unit(s), Wall/Window |
| Equipment: | Range/Oven |
| Heating: | Wall |
| Laundry: | Laundry Area |
Exterior
Detailed Map
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