485 East Washington Boulevard
485 East Washington Boulevard
Description
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,...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.
- Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
Property Details for 485 East Washington Boulevard
Location
Property Details for 485 East Washington Boulevard
| Status | Active |
|---|---|
| MLS # | CV24052236 |
| Days on Market | 43 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1950 |
| County | Los Angeles County |
Location
Building Information for 485 East Washington Boulevard
Payment Calculator
$32,544 per month
30 year fixed, 7.25% Interest
$31,080
$1,464
$0
Property Information for 485 East Washington Boulevard
- Gross Income: $463,168
- Gross Scheduled Income: $425,497
- Vacancy Allowance: 12765
- Gross Operating Income: $412,732
- Net Operating Income: $227,839
- Laundry Income: $4,360
- Gross Multiplier: 13.38
- Cap Rate: 4.0
- Operating Expense: $184,893
- New Taxes Expense: $68,030
- Gardener Expense: $3,276
- Electric Expense: $13,068
- Insurance Expense: $14,711
- Maintenance Expense: $15,000
- Professional Management Expense: $40,509
- Other Expense: $4,000
- Other Expense Description: Reserves
- Trash Expense: $13,232
- Water Sewer Expense: $13,067
- Total Expenses: $184,893
- Tax Block: M
- Tax Tract Number: 461501
- Tax Census Tract: 4615.01
- CFD/Mello-Roos Fee: $4,871
- Tax Lot: 0
- Community Features: Curbs, Sidewalks
- Laundry: Yes
- Laundry Features: Common Area
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 16-20 Units/Acre
- Number Of Units: 20
- Land Lease: No
- Land Lease Type: Fee
- Levels: One, Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking: Yes
- Parking Garage: Carport
- Uncovered Spaces: 8
- Open Other Spaces Total: 8
- Parking Garage Spaces: 0
- Carport Spaces: 7
- Parking Features: Carport
- Unit Type Units Total: 16
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,686
- Unit Type Total Rent: $323,736
- Unit Type Pro Forma: 2200
- Unit Type Type: 1
- Unit Type Units Total: 3
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,051
- Unit Type Total Rent: $73,848
- Unit Type Pro Forma: 2850
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,124
- Unit Type Total Rent: $25,488
- Unit Type Pro Forma: 3000
- Unit Type Type: 3
- Number Of Units Leased: 20
- Rent Controlled: No
- Number Of Buildings: 4
- Number Of Separate Electric Meters: 20
- Number Of Separate Gas Meters: 20
- Number Of Separate Water Meters: 1
Property History for 485 East Washington Boulevard
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 485 East Washington Boulevard
Schools near 485 East Washington Boulevard
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 8 |
Rating | School | Distance |
|---|---|---|
Longfellow (Henry W.) Elementary School PublicK to 5 | ||
Charles W. Eliot Middle School Public6 to 8 | ||
John Muir High School Public9 to 12 | ||
Odyssey Charter School - South CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.