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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.
Last Updated | 10/24/2024 | Year Built | 1910 |
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Community | Pasadena (NE) | County | Los Angeles |
Additional Details
AREA | Pasadena (NE) |
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GARAGE | Carport, Uncovered |
HEAT | Wall Furnace |
LOT | 0.88 acre(s) |
PARKING | Carport,Uncovered |
STORIES | 1 |
ZONING | PSR3 |
Location
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