485 E Washington Boulevard, Pasadena, CA 91104

Local realty services provided by:Better Homes and Gardens Real Estate Haven Properties
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485 E Washington Boulevard,Pasadena, CA 91104
$4,990,000
  • 25 Beds
  • 24 Baths
  • 13,859 sq. ft.
  • Multi-family
  • Active
Listed by:alexander metaxas
Office:realty investment advisors, inc.
MLS#:24456721
Source:CRMLS

Price summary

  • Price:$4,990,000
  • Price per sq. ft.:$360.05

About this home

OVER 6% CAP RATE ON CURRENT RENTS! Great investment offering at under $250k per unit on almost 1 acre of land. A Buyer could be looking at over a 6% CASH ON CASH RETURN with this property even with today's interest rates. Cash cow opportunity in super strong rental location with bulletproof buildings on a large lot with BIG UPSIDE! Possibilities for ADU and great rent growth make this one of the best opportunities in Pasadena right now. With mostly single-story floor plans offering a unit mix of One 3Bed+2bath, Three 2Bed+1bath and 16 spacious 1Bed+1bath units. 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.

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Home facts

  • Year built:1948
  • Listing Id #:24456721
  • Added:293 day(s) ago
  • Updated:August 13, 2025 at 01:10 PM

Rooms and interior

  • Bedrooms:25
  • Total bathrooms:24
  • Living area:13,859 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnace

Structure and exterior

  • Year built:1948
  • Building area:13,859 sq. ft.
  • Lot area:0.88 Acres

Finances and disclosures

  • Price:$4,990,000
  • Price per sq. ft.:$360.05
Based on information from California Regional Multiple Listing Service, Inc. as of August 14, 2025 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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