485 E Washington Blvd Pasadena, CA 91104
Active
$4,998,000
4%
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 | $ 3,200 | $ 3,200 | $ 3,200 |
| 3 | 20 | 25 | 24 | $ 37,722 | $ 472,574 | $ 563,300 |
| MLS #: | 24-456721 |
| Days On Market: | 50 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 361 |
| Price per unit: | $ 249,900 |
| Year Built: | 1948 |
Property Details
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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 443,694 |
| Total Annual Expense: | $ 138,487 |
| Net Operating Income: | $ 305,207 |
| Gross Annual Income: | $ 457,416 |
| Cap Rate: | 6.11% |
| Gross Rent Multiplier: | 10.93 |
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
Schools
Find a great school for your child
Income
