We are proud to present a multifamily investment opportunity at 485 East Washington Boulevard in Pasadena. Situated on a generous lot of approximately 38,240 square feet, 485 East Washington Boulevard features spacious, highly desirable single-story floor plans. 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.With a strong historical occupancy rate, 485 East Washington Boulevard currently generates $423,072 in annual rental income. There is significant potential for increased rental revenue, with comparable 1-bedroom/1-bathroom, 2-bedroom/2-bathroom, and 3-bedroom/2-bathroom units in the area averaging $2,338 per month.This prime Pasadena income-generating property represents an excellent long-term investment opportunity. Its desirable location ensures stability for all types of investors, whether first-time buyers, seasoned professionals, or those seeking a 1031 exchange opportunity.
Additional Features
- Wall Furnace
- One
- Parking spaces: 15.00
- Listing Status: Active
- Listing Agent: Alexander Metaxas
(lic# 01784652)
of Beverly Hills/Greater LA
- Listing Office: Realty Investment Advisors, Inc.
(lic# 02063191)
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Based on information from CRISNet MLS as of 2nd December 2024 at 7:48pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
