Pasadena, CA 91104 485 E Washington Boulevard

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Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
  • MLS# CV24052236
  • 03/14/2024
  • Request Tour
  • Request Info
  • BedBeds • 16
  • BathBaths • 1
  • FootageSQFT • 13,859

Home Details

We are proud to exclusively present a multifamily opportunity to acquire 485 East Washington Boulevard in the city of Pasadena. 485 East Washington Boulevard is situated between Los Robles Avenue and El Molino Avenue just two blocks west of North Lake Avenue. The property is within walking distance to grocery stores, restaurants, parks, and schools. The property is also within minutes to essential city frequented locations—Shops on Lake, The Paseo, Pasadena Plaza, Oldtown Pasadena, Pasadena City College, California Institute of Technology, Jet Propulsion Laboratory, Art Center College of Design, Kidspace Children’s Museum, and Eaton Canyon Nature Center. The city of Pasadena is ideally located within Southern California and offers easy and convenient access to all of Los Angeles County, Ventura County, San Bernardino County and beyond through the 210, 134, 110, 2 and 5 freeways as well as the Lake Avenue Gold Line Metro Rail station. Significant local landmarks within a 20-mile radius include: The Huntington Library, The Rose Bowl, Dodger Stadium, Crypto.com Arena, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. 485 East Washington Boulevard is situated on a large lot of approximately ±38,240 square feet. The majority of the units consist of spacious, highly sought-after, single-story floorplans and all units are comprised of wall air conditioning and heating, tile and carpet flooring, and spacious kitchens with gas oven/stove combination units. The property is well-maintained and features an open grass courtyard, mature landscaping, an on-site laundry facility, and ample off-street open and carport parking. 485 East Washington Boulevard is a prime Pasadena income-producing property and a great long-term investment. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717

Interior Features for 485 E Washington Boulevard

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixBoulevard
Total Stories2

Other Rooms

Entry Level1

General for 485 E Washington Boulevard

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.0
Carport Spaces7.0
Carport Y/NYes
CityPasadena
Community FeaturesCurbs, Sidewalks
CoolingWallWindowUnits
CountyLos Angeles
Days on Market43
DirectionsTake the I-10W, Merge onto I-210W, Exit Hill Avenue, Turn Left on E Washington Blvd.
Electric Expense13068.0
Entry Location1
Garage Spaces0.0
Garage Y/NNo
Gross Income463168.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense14711.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne, Two
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet38240.0
MLS Area645 - Pasadena (NW)
MaintenanceExpense15000.0
MobileHomeRemainsYNNo
Net Operating Income227839.0
New ConstructionNo
Number of Units Leased20
Open Parking Spaces8.0
Operating Expense184893.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Street NameWashington
Tax Lot0
Taxes$68,030
Total Actual Rent423072.0
Total Units20
Trash Expense13232.0
View Y/NNo
Water Sewer Expense13067.0
Waterfront Y/NNo
Year Built1950
Year Built SourceAssessor
ZoningPSR3

Exterior for 485 E Washington Boulevard

Building Area Total13859.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1620UnitsAcre
Lot Size Acres0.8779
Lot Size Area38240.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings4
Number of Separate Electric Meters20
Number of Separate Gas Meters20
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport
SpaNo
Total Parking15.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $5,695,000
MLS#CV24052236
List Date 03/14/2024
Property Type Multi-Family
Phone 714.964.3311
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