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485 E Washington Blvd, Pasadena, CA 91104
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485 E Washington Blvd Pasadena, CA 91104

$5,695,000
  • 25 Beds
  • 24 Baths
  • 13,859 Sq.Ft.
For Sale
$5,695,000 Get Pre-Qualified
Map preview of 485 E Washington Blvd, Pasadena, CA 91104

Property Overview: 485 E Washington Blvd Pasadena, CA has 25 bedrooms, 24 bathrooms, 13,859 living square feet and 38,240 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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 | BRE #01489184 | CB RICHARD ELLIS
Last checked: 7 minutes ago | Last updated: March 28th, 2024 | Source CRMLS | DOM: 36
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Home details

Lot Sq. Ft
38,240
HOA Dues
$0/mo
Year built
1950
Garage
--
Property Type:
Apartment
Status
Active
MLS#
CV24052236
City
Pasadena
County
Los Angeles
Time on Site
43 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 4
  • # of Leased Units: 20
  • # of Electric Meters: 20
  • # of Gas Meters: 20
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,051
  • Total Rent: $73,848
  • Pro Forma/Market Rent: $2,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,124
  • Total Rent: $25,488
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 16
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,686
  • Total Rent: $323,736
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 13.38
  • Gross Scheduled Income: $425,497
  • Net Operating Income: $227,839
  • Gross Operating Income: $412,732
  • Vacancy Allowance: $12,765
  • Laundry Income: $4,360
Annual Expense Breakdown
  • Total Operating Expense: $184,893
  • Electric: $13,068
  • New Taxes: $68,030
  • Trash: $13,232
  • Gardener: $3,276
  • Insurance: $14,711
  • Maintenance: $15,000
  • Professional Management: $40,509
  • Water/Sewer: $13,067
  • Other Expenses: $4,000
  • Other Expense Description: Reserves

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Property Details for 485 E Washington Blvd

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 15
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Features: 16-20 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 20
  • Parcel Number: 5838040010
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Take the I-10W, Merge onto I-210W, Exit Hill Avenue, Turn Left on E Washington Blvd.
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Pasadena Agent

Sale History for 485 E Washington Blvd

Last sold on September 10th, 2020

  • March, 2024

  • Mar 14, 2024

    Date

    Active

    CRMLS: CV24052236

    $5,695,000

    Price

  • October, 2023

  • Oct 1, 2023

    Date

    Expired

    CRMLS: CV23054989

    $6,249,000

    Price

  • Apr 3, 2023

    Date

    Active

    CRMLS: CV23054989

    $6,350,000

    Price

  • Listing provided courtesy of CRMLS

    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 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.

  • September, 2020

  • Sep 10, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • July, 1999

  • Jul 19, 1999

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 485 E Washington Blvd

Assessed Value (2020): $1,084,126
Year Land Value Improved Value Assessed Value
2020 $519,980 $564,146 $1,084,126

Home Value Compared to the Market

This property vs the competition

485 E Washington Blvd is listed 374.98% higher than the median list price for the city of Pasadena which has a median list price of $1,199,000. The median price per/sqft for Pasadena is $796 and this home is listed at $410.92 per/sqft which puts the price per square foot 48.38% lower than the median price per square foot for the city of Pasadena.

About 485 E Washington Blvd

Detailed summary of property

485 E Washington Blvd is a apartment located in Pasadena, CA 91104 and is currently for sale. This apartment offers 25 bedrooms, 24 bathrooms, roughly 13,859 living square feet, and sits on an approximately 38,240 square foot lot. 485 E Washington Blvd was first listed on ArdentRealEstateGroup.com on March 15, 2024. The homeowner is currently asking $5,695,000. The median priced home in Pasadena is $1,199,000 with a median price per square foot of $796. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 374.98% higher than the median priced home. Local competing homes currently for sale include 1651 Redcliff St, 3365 Hamilton Way and 264 S Union Ave. While the average home in Pasadena, CA is selling in 55 days, 485 E Washington Blvd has a days on market of 36 days. There are currently 259 homes for sale in the Pasadena real estate market and 153 of them are single family homes while 83 of them are condos and 23 are townhomes. For more information on this home for sale at 485 E Washington Blvd Pasadena, CA 91104 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 485 E Washington Blvd

Public county record property details
Beds
19
Baths
19
Year built
1910
Sq. Ft.
13,859
Lot Size
38,240
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
--
APN
5838-040-010

The source for these homes facts are from public records.

91104 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,000
Median List Price/Sq.Ft.
$867
Median Sold Price
$1,355,000
Median Sold Price/Sq.Ft.
$903
Total Inventory
22
Median Sale to List Price %
104.63%
Avg Days on Market
20
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (12.5%), Other (12.5%)

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Recently Sold Homes Near 485 E Washington Blvd

517 E Washington Blvd, Pasadena, CA 91104
$3,220,000 Last Sold Price
18 Beds
10 Baths
8340 Sq.Ft.
517 E Washington Blvd
Pasadena, CA 91104
1286 N Los Robles Ave, Pasadena, CA 91104
$1,907,000 Last Sold Price
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1276 N Los Robles Ave, Pasadena, CA 91104
$1,265,000 Last Sold Price
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4 Baths
3628 Sq.Ft.
1276 N Los Robles Ave
Pasadena, CA 91104
452 E Rio Grande St, Pasadena, CA 91104
$1,800,000 Last Sold Price
8 Beds
4 Baths
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452 E Rio Grande St
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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