1615 E Washington Blvd

Off Market

1615 E Washington Blvd

Pasadena CA 91104

5620 sq. ft.

4999 sq. ft.

Multi-Family

Last sold for $1,125,000

Overview

We 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.

Features

2 bedrooms

2 bathrooms

5620 sq. ft. floor area

4999 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 2 bedroom multi families sold in Pasadena over the last 12 months.

Property history for 1615 E Washington Blvd

2016

Sold

$1,125,000

24 Feb 2016

Happy sellers in Pasadena

We have insufficient information to provide an overview of customer satisfaction for Pasadena. Viewing the agent profiles, reviews and sales for Pasadena can provide insights for this location.

Local market activity for 2 bedroom multi families in Pasadena

In the last 12 months, 2 two-bedroom multi families similar to 1615 E Washington Blvd, have been sold.

Sold

For Sale

Interested in selling?

People are reaching out to these agents in Pasadena for a market analysis.

Lan "Gloria" Xiao

at REMAX Elite Realty | Alhambra

(110 reviews)

Get a market analysis

Reni R Rose

at Berkshire Hathaway HomeServices California Properties (Sierra Madre, 91024)

(86 reviews)

Get a market analysis

Nichole Dunville

at Coldwell Banker

(49 reviews)

Get a market analysis

DIANNA MILLER

at Realty ONE Group Masters | Covina

(4 reviews)

Get a market analysis

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Pasadena

Lan "Gloria" Xiao

Lan "Gloria" Xiao is an award winning recommended agent for Pasadena. They have 2 local sales and collected 2 local reviews across the last 12 months.

5 (110 reviews)
2 Reviews in Pasadena
2 Sales in Pasadena

View profile

Reni R Rose

Reni R Rose is an award winning recommended agent for Pasadena. They have 2 local sales and collected 1 local review across the last 12 months.

5 (86 reviews)
1 Review in Pasadena
2 Sales in Pasadena

View profile

Nichole Dunville

Sellers who recommend Nichole Dunville have praised them for being local expert, clear communication, supportive, responsive, reliable, patient, and strategic