300 W Washington Blvd
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300 W Washington Blvd
5 Unit Apartment Building $1,765,000 ($353,000/Unit) 3.99% Cap Rate Pasadena, CA 91103
Investment Highlights
- All 5 Units are 2 Bedrooms/1 Baths
- Individually Meters for Gas & Electric
- Great Rental Upside
- Covered Parking: 2 Car Garage and 4 Carport Spaces
- Large Lot
Executive Summary
This 5-unit, single-story apartment complex in Pasadena features two-bedroom, one-bathroom units, offering a total interior space of 4,600 square feet on an 11,116 square foot lot. Fully occupied on month-to-month leases, the property has special PSR1 zoning, allowing for institutional use. Current rents yield a 4% cap rate, with potential for a 6.7% market cap rate. The front unit includes a two-car garage, while the remaining units have attached covered carports. Each unit is equipped with separate electricity and gas meters. The property also benefits from its prime location near the Rose Bowl, Old Town Pasadena, freeways, public transportation, and schools. Drive-by only—please do not disturb tenants or enter the property.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$107,688
|
$23.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$107,688
|
$23.41
|
| Taxes |
$20,110
|
$4.37
|
| Operating Expenses |
$17,129
|
$3.72
|
| Total Expenses |
$37,239
|
$8.10
|
| Net Operating Income |
$70,449
|
$15.32
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $107,688 |
| Annual Per SF | $23.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $107,688 |
| Annual Per SF | $23.41 |
| Taxes | |
|---|---|
| Annual | $20,110 |
| Annual Per SF | $4.37 |
| Operating Expenses | |
|---|---|
| Annual | $17,129 |
| Annual Per SF | $3.72 |
| Total Expenses | |
|---|---|
| Annual | $37,239 |
| Annual Per SF | $8.10 |
| Net Operating Income | |
|---|---|
| Annual | $70,449 |
| Annual Per SF | $15.32 |
Property Facts
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tub/Shower
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $1,903 | 904 |
Bike Score ®
Very Bikeable (70)
zoning
| Zoning Code | PSR1 (Public Service/Institutional.) |
| PSR1 (Public Service/Institutional.) |
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300 W Washington Blvd
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