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    278 E Washington Boulevard

    Pasadena, CA 91104
    • $8,800,000
    • STATUS: Active
    • ON SITE: 47 days
    • ID#: AR21063767
    $8,800,000
    • 0
      BEDS
    • 0.58
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,002
      SQFT
    • $463
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    A 24-unit garden style apartment located in the highly desirable City of Pasadena, CA. Located within minutes from Old Town Pasadena, this attractive apartment community offers an excellent curb appeal. This community has an excellent occupancy history and is NOT under Los Angeles rent control; it is under AB1482 which allows much higher rent increase (5%+CPI). It offers an excellent curb appeal with complete refaced exterior and completely redone landscaping. It has a superb unit mix of ALL 2bedroom units with included washer/dryer in each unit! The building has secured entrance with gated parking (Soft story retrofit has been completed) and security camera system installed. Each unit is spacious with functional layout and has been completely upgraded with recessed lighting, luxury wood plank flooring, new kitchen (cabinets and countertops), stainless steel appliances, new bathroom (new tub, new vanity cabinets, new lighting fixtures), in-unit washer and dryer, LED lighting, mirrored closet doors, and much more. Some units have private small patio/balcony with modern wood railings. Some of the windows have been upgraded to double pane windows.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T00:35:05.513. 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 deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
    www.myorangecountyhomesearcher.com/homes/115525747
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    278 E Washington Boulevard Pasadena, CA 91104

    • Price: $8,800,000
    • Status: Active
    • ID#: AR21063767
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.58
    Acres
    19,002
    SQFT
    $463
    $/SQFT
    1964
    Built
    Neighborhood:
    646 - Pasadena (NE)
    County:
    Los Angeles
    Area:
    646 - Pasadena (NE)
    Property Description
    A 24-unit garden style apartment located in the highly desirable City of Pasadena, CA. Located within minutes from Old Town Pasadena, this attractive apartment community offers an excellent curb appeal. This community has an excellent occupancy history and is NOT under Los Angeles rent control; it is under AB1482 which allows much higher rent increase (5%+CPI). It offers an excellent curb appeal with complete refaced exterior and completely redone landscaping. It has a superb unit mix of ALL 2bedroom units with included washer/dryer in each unit! The building has secured entrance with gated parking (Soft story retrofit has been completed) and security camera system installed. Each unit is spacious with functional layout and has been completely upgraded with recessed lighting, luxury wood plank flooring, new kitchen (cabinets and countertops), stainless steel appliances, new bathroom (new tub, new vanity cabinets, new lighting fixtures), in-unit washer and dryer, LED lighting, mirrored closet doors, and much more. Some units have private small patio/balcony with modern wood railings. Some of the windows have been upgraded to double pane windows.
    Exterior Features

    Carport Spaces 24 Carport YN Yes Lot Features 31-35 Units/AcreLevelNear ParkNear Public TransitSprinkler System Number Of Separate Electric Meters 25 Open Parking Spaces 0 Parking Features Assigned Parking Total 24 Pool Features None Pool Private YN No Property Attached YN Yes View Mountain(S)Neighborhood View YN Yes

    Interior Features

    Appliances DryerWasher Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features Living Room Fireplace YN Yes Flooring VinylWood Heating Wall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.28 Common Interest Community Apartment Community Features UrbanValleyGatedPark Contingency Apartment is Tenant OccupiedDrive By OnlyDo Not Disturb Occupants. Inspection With An Accepted Offer. Download Supplemental Om For Financial Analysis. Send The Offer To Han.Chen@Growthinvestmentgroup.Com - Please include Pof. Thanks For Working On This And Good Luck. Current Financing Conventional Electric Standard Electric Expense 1736 Fuel Expense 9926 Garage YN No Gross Income 589837 Gross Scheduled Income 591600 Insurance Expense 5400 Land Lease YN No Laundry Features Common AreaWasher HookupGas Dryer HookupInside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 17052 Net Operating Income 376887 New Construction YN No New Taxes Expense 104986 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Operating Expense 196965 Pest Control Expense 728 Pool Expense 0 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Security Features Closed Circuit Camera(S)Carbon Monoxide Detector(S)Fire Detection SystemSecurity GateGated CommunityResident ManagerSmoke Detector(S)Security Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricitySee Remarks Trash Expense 7487 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3 Water Sewer Expense 10677 Water Source Public

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T00:35:05.513. 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 deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
     
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