485 Washington Blvd, Pasadena, CA 91104-2204
- Apartment buildings
- 13,859 SF
- 0.88 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 485 Washington Blvd
- Year built
- 1910
- Construction
- WOOD
- Lot size
- 0.88 lot acres
- Zone code
- PSR3
- Property type
- Apartment buildings
- APN
- 5838-040-010
- APU
- 5838040010
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 10, 2020 | — | Pasadena Ramona LLC | Steven Bard | Quit Claim Deed | — |
| Jul 19, 1999 | $72,500 | Steven Bard | Acy Investments | Grant Deed | — |
| Sep 6, 1995 | $75,000 | Arnold Yuan | Owens,robert J | Grant Deed · related | — |
| Mar 8, 1988 | $765,000 | Gregory Camacho | Dynas | Trustees Deed | — |
| Mar 8, 1988 | — | Robert J Owens | Owens | Quit Claim Deed · related | $612k · Coast Federal Bank |
| Mar 8, 1988 | $394,500 | Deed Ser Dynasty | Reyno | Trustees Deed · related | — |
| — | — | Pauline Reynolds | — | Deed Of Trust · related | $40k · Stephen Harrison |
| — | — | Steven Bard | — | Deed Of Trust · related | $999k · Abn Amro Mortgage Group INC |
Description
This exceptional 20-unit apartment building presents a compelling investment opportunity in Pasadena, CA. Located at 485 E Washington Blvd, 91104, this property boasts a substantial 13,859 square feet on a large 38,240 square foot lot, offering significant potential for future development, such as Accessory Dwelling Units (ADUs). The building, constructed in 1910 and 1948, features a desirable unit mix: one 3-bedroom/2-bathroom unit, three 2-bedroom/2-bathroom units, and sixteen spacious 1-bedroom/1-bathroom units. Each unit includes wall-mounted air conditioning and heating, a combination of tile and carpet flooring, and well-equipped kitchens with gas ovens and stoves. Residents enjoy an attractive open grass courtyard, mature landscaping, on-site laundry facilities, and ample off-street parking, including carport spaces. The property currently generates a Net Operating Income (NOI) of $260,939, representing a 5.02% capitalization rate. However, a pro-forma NOI of $343,525 projects a significantly higher 6.61% capitalization rate, highlighting the substantial upside potential. The asking price is $5,195,000, or $259,750 per unit. This well-maintained property is an ideal long-term investment and a strong candidate for a 1031 exchange.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.14
- Latitude
- 34.1695
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
