Alexander Metaxas

By use code: Residential - Five or More Units or Apartments (Any Combination) - 4 Stories or Less

Come enjoy Pasadena living at Prescott 5. You'll find this community on Prescott St in Pasadena. From pricing to features, the leasing staff is excited to help you find the best floor plan for your lifestyle. It's time to come home to Prescott 5. Contact us or stop by the leasing office to learn more about our community.Prescott 5 is an apartment community located in Los Angeles County and the 91104 ZIP Code. This area is served by the Pasadena Unified attendance zone.

4.8% CAP RATE ON CURRENT RENTS and EXCELLENT LOCATION!!  We are pleased to present for sale this 9-unit property in one of the best rental areas of Pasadena.​  The Playhouse Village area boasts as a WALKER'S PARADISE with its close proximity to restaurants, retail and S.​ Lake Ave.​  The property features remodeled interiors, FULL copper plumbing, updated electrical system, some newer windows, dishwashers, tankless water heaters, stainless steel appliances with some units having W/D machines inside.​   The original property consists of Four 1 Bed + 1 bath units and Three studio + 1 bath units.​  Two permitted ADUs were constructed that consist of one 2 Bed + 1 bath and one studio + 1 bath units.​  The interiors were updated with thought to preserve some of the original feel and charm of the property, while offering modern comfort and amenities for tenants.​ Given the location and style these apartments have a very strong history of renting quickly and at top rents.​  There are currently five on-site, parking spaces with the possibility to configure for more.​  NO SOFT-STORY RETROFIT NEEDED.​  Separately metered for electricity and gas and each unit has their own water heater.​  ATTRACTIVE ASSUMABLE FINANCING AT 3.15% INTEREST.​  This can be purchase separately or together with the next door, 6 unit property at 142 S.​ El Molino Ave.​, MLS# 24-413263.​   A rare offering for one or two properties that have been well updated and meticulously managed by the ownership.​  PLEASE DO NOT DISTURB THE TENANTS.​

CBRE is 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 has historically high occupancy and is currently generating $423,072 in annual rental income.​ There remains considerable upside in rental income; comparable to 1-bedroom/1-bathroom, 2-bedroom/2-bathroom and 3-bedroom/2-bathroom units in the surrounding area that generate on average $2,338 per month.​ 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.​

Alexander Metaxas

About Alexander Metaxas

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Recent property sales & transaction history

5 properties

Pasadena

Family Home, Apartment

$2,450,000 to $3,950,000

400 ft² to 7,500 ft²

Properties for sale by listing agent Alexander Metaxas

$749,800

$3,400,000

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Alexander Metaxas

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