Seller's Agent in 2016
Justin Dae
Keller Williams Encino/Sherman Oaks
(818) 929-1906
4 Total Sales
1615 E Washington Blvd Pasadena, CA 91104
East Washington Village NeighborhoodEstimated Value: $2,005,694
2
Beds
4
Baths
5,620
Sq Ft
$357/Sq Ft
Est. Value
Highlights
- Ramp on the main level
- Foothills
- Central Heating and Cooling System
- Pasadena High School Rated A
About This Home
As of February 2016We are pleased to present an attractive mixed-use investment opportunity located at 1615 E Washington Blvd in Pasadena. The property is comprised of a ground floor retail space along with a large residential unit and a studio on the second floor.
The 5,620 SF property is situated on a 4,996 SF lot zoned Commercial Limited (CL). The zoning allows a variety of uses including office, retail, and residential. There is a two car garage along with a small open parking lot behind the property with alley access. The property is 100% occupied and has been well maintained with recent improvements.
The spacious 2,135 SF residential unit features two bedrooms, two bathrooms, a large den/dining area along with a bonus room and wrap around patio. The studio is currently leased month to month as office space. The ground floor retail space is leased to Isis Bistro Lounge on a modified gross lease expiring in October 2017.
This is a great investment opportunity providing a new owner with solid income, tremendous upside and a market CAP rate above 6.5%. Between the expiring retail lease and the MTM studio the property offers added value to an investor. This would be an excellent upleg for an investor in a 1031 tax deferred exchange.
Last Agent to Sell the Property
Keller Williams Encino/Sherman Oaks License #01519849 Listed on: 09/25/2015
Last Buyer's Agent
Kelly Tachikawa
IMPACT Properties, Inc License #01758445
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1929
Lot Details
- 4,999 Sq Ft Lot
- Property fronts an alley
- No Common Walls
Parking
- 2 Car Garage
Interior Spaces
- 5,620 Sq Ft Home
- Decorative Fireplace
Bedrooms and Bathrooms
- 2 Bedrooms
- 4 Bathrooms
Laundry
- Laundry in unit
- Gas And Electric Dryer Hookup
Additional Features
- Ramp on the main level
- Exterior Lighting
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 4
- Tax Tract Number 7931
- Assessor Parcel Number 5850022004
Community Details
Overview
- 3 Units
- Foothills
Building Details
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $7,000
- Net Operating Income $59,380
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 25, 2017
Sold by
Bought by
Current Estimated Value
Purchase Details
Listed on
Sep 25, 2015
Closed on
Jan 29, 2016
Sold by
Bought by
Seller's Agent
Justin Dae
Keller Williams Encino/Sherman Oaks
Buyer's Agent
Kelly Tachikawa
IMPACT Properties, Inc
List Price
$1,250,000
Sold Price
$1,125,000
Premium/Discount to List
-$125,000
-10%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.76%
Purchase Details
Closed on
May 16, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$595,000
Interest Rate
6.55%
Mortgage Type
Commercial
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | None Available | ||
| $1,125,000 | Lawyers Title | ||
| -- | Itc Gln | ||
| -- | Itc Gln |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $595,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/24/2016 02/24/16 | Sold | $1,125,000 | -10.0% | $200 / Sq Ft |
| 01/24/2016 01/24/16 | Pending | -- | -- | -- |
| 09/25/2015 09/25/15 | For Sale | $1,250,000 | 0.0% | $222 / Sq Ft |
| 07/06/2015 07/06/15 | Rented | $2,300 | +7.0% | -- |
| 07/06/2015 07/06/15 | Under Contract | -- | -- | -- |
| 06/22/2015 06/22/15 | For Rent | $2,150 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $16,375 | $1,331,763 | $679,496 | $652,267 |
| 2024 | $15,557 | $1,305,651 | $666,173 | $639,478 |
| 2023 | $15,424 | $1,280,051 | $653,111 | $626,940 |
| 2022 | $14,894 | $1,254,953 | $640,305 | $614,648 |
| 2021 | $14,267 | $1,230,347 | $627,750 | $602,597 |
| 2019 | $13,743 | $1,193,857 | $609,132 | $584,725 |
| 2018 | $13,958 | $1,170,449 | $597,189 | $573,260 |
| 2017 | $13,803 | $1,147,500 | $585,480 | $562,020 |
| 2016 | $13,739 | $1,148,630 | $577,201 | $571,429 |
| 2015 | $13,588 | $1,131,377 | $568,531 | $562,846 |
| 2014 | $13,310 | $1,109,216 | $557,395 | $551,821 |
Source: Public Records
Agents Affiliated with this Home
-
Justin Dae
-
K
Buyer's Agent in 2016
Kelly Tachikawa
IMPACT Properties, Inc
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR15212066
APN: 5850-022-004
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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