485 E Washington Blvd - Apartments FOR SALE


Pasadena, CA 91104- Normandie Heights
$4,850,000 USD
626-313-4901
485 E Washington Blvd, Pasadena, CA for Sale
$4,850,000 USD
Apartments - FOR SALE
1/17
null | 6.3% Cap Rate

485 E Washington Blvd
Pasadena, CA 91104
Normandie Heights


HIGHLIGHTS

  • OVER 6% CAP RATE
  • LARGE 38k SF LOT SIZE
  • REALLY STRONG RENTAL LOCATION
  • GREAT IN PLACE RENTS WITH BIG UPSIDE
  • CASH COW TYPE OF PROPERTY

OVERVIEW

***SELLER WANTS TO SEE ALL OFFERS***ONE OF THE BEST CAP RATES IN PASADENA RIGHT NOW*** OVER 6% CASH ON CASH RETURN with solid rent growth as units turn over and become vacant. Over all this is a fantastic bread-n-butter apartment investment on almost ONE ACRE of land. Super strong rental location of Pasadena with low maintenance type buildings. Two single-story buildings offering a unit mix of One 3Bed+2bath, Three 2Bed+1bath and 16 spacious 1Bed+1bath units and NO SOFT-STORY. 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.

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

20

PRICE/UNIT

$242,500

CAP RATE

6.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,252 SF

ZONING

RM32, Pasadena

APN/PARCEL ID

5838-040-010

ASK ABOUT THIS PROPERTY

Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.