$4,990,000
$205K PRICE DROP

485 E Washington Blvd Pasadena, CA 91104

Normandie Heights Neighborhood

Estimated payment $32,180/month

Total Views 2,290
25 Beds
24 Baths
13,859 Sq Ft
$360 Price per Sq Ft

Highlights

  • 0.88 Acre Lot
  • Laundry Room
  • 1-Story Property
  • John Muir High School Rated A-

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.

Listing Agent

Alexander Metaxas

Realty Investment Advisors, Inc. License #01784652 Listed on: 07/15/2025

Co-Listing Agent

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 0.88 Acre Lot

Interior Spaces

  • 13,859 Sq Ft Home
  • 1-Story Property
  • Oven or Range
  • Laundry Room

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 24 Bathrooms

Parking

  • 20 Parking Spaces
  • Carport
  • Uncovered Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Community Details

  • 4 Buildings
  • 20 Units

Listing and Financial Details

  • Assessor Parcel Number 5838-040-010

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: One
  • Street Number Display: Yes
  • Living Area: 13859
  • Lot Acreage: 0.8781
  • Stories: 1
  • Year Built: 1948
  • Number Of Photos: 13
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 25
  • Laundry: Laundry Area
  • Total Bathrooms: 24.00
  • Equipment: Range/Oven
  • Price Per S Q F T: 360.05

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Carport, Uncovered
  • Total Parking: 20

Utilities

  • Cooling: Wall Unit(s), Wall/Window
  • Heating: Wall
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 51.95
  • Assessed Improvement Value: 590914
  • Assessed Land Percent: 48.05
  • Assessed Land Value: 546590
  • Total Assessed Value: 1137504
  • Assessor Parcel Number: 5838-040-010
  • Lot Size Area: 38252

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.84
  • Number Of Units: 20
  • Total Annual Expense: 141153
  • Type Of Units: Apartments
  • Vacancy Rate: 0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/15/2025 07/15/25 For Sale $4,990,000 0.0% $360 / Sq Ft
07/11/2025 07/11/25 Pending -- -- --
05/16/2025 05/16/25 Price Changed $4,990,000 0.0% $360 / Sq Ft
05/16/2025 05/16/25 For Sale $4,990,000 -0.2% $360 / Sq Ft
04/11/2025 04/11/25 Off Market $4,998,000 -- --
12/17/2024 12/17/24 Price Changed $4,998,000 -3.8% $361 / Sq Ft
12/13/2024 12/13/24 For Sale $5,195,000 0.0% $375 / Sq Ft
12/09/2024 12/09/24 Off Market $5,195,000 -- --
10/24/2024 10/24/24 For Sale $5,195,000 -- $375 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 24-456721

The MLS

California Los Angeles County Pasadena 91104 Normandie Heights

485 E Washington Blvd, Pasadena, CA

This home is located at 485 E Washington Blvd, Pasadena, CA 91104 and is currently priced at $4,990,000, approximately $360 per square foot. This property was built in 1948. 485 E Washington Blvd is a home located in Los Angeles County with nearby schools including Longfellow (Henry W.) Elementary School, Charles W. Eliot Arts Magnet Academy, and John Muir High School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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Alexander Metaxas
Listing Agent
Alexander Metaxas
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Realty Investment Advisors, Inc.
(626) 487-4300