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1517 E Washington Blvd 6,550 SF 100% Leased Retail Building Pasadena, CA 91104 $3,625,000 ($553.44/SF)
EXECUTIVE SUMMARY
Mixed Use commercial building sits comfortably in Pasadena, a beautiful suburban city and primary retail destination of the San Gabriel Valley. Pasadena is a highly walkable city and conveniently connects to the region’s rail system, allowing the many surrounding residential neighborhoods to reach the popular shopping and dining hub. Driven by a confluence of local and tourist traffic, Pasadena’s retail sector is thriving, with rental rates up over 2% annually, outperforming the greater MSA. Pasadena offers a strong demographic profile when looking in a three-mile radius surrounding 1517 E Washington Boulevard. The population of 167,740 is well-educated, with 89% graduating high school and 76% pursuing some form of higher education, resulting in an impressive average household income of $119,653. This increased spending power can be seen in the over $2.4 billion in consumer spending throughout 2022, with over 69% spent across retail segments. Residents of the area predominately rent their homes, leading to a 2.4% increase in multifamily rental rates. A prime location and strong performance in local retail and residential markets make Pasadena the perfect location for new investment.
Ground retail store front has 3650 SQFT. Second floor has two apartment units each 3 bedrooms, 2 bathrooms with 1450 SQFT each
3 Car Garage & 1 parking space Plus ample parking across the street via walkway lane.
NOTE: Los Angeles County records indicate square feet of the building being as 6550 sqft. Exact measurements of the units may differ. Buyers to verify all information including square feet of the building.
Ground retail store front has 3650 SQFT. Second floor has two apartment units each 3 bedrooms, 2 bathrooms with 1450 SQFT each
3 Car Garage & 1 parking space Plus ample parking across the street via walkway lane.
NOTE: Los Angeles County records indicate square feet of the building being as 6550 sqft. Exact measurements of the units may differ. Buyers to verify all information including square feet of the building.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,550 SF
Building Class
C
Year Built
1925
Price
$3,625,000
Price Per SF
$553.44
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.31
Lot Size
0.11 AC
Zoning
C, Pasedena - Mixed use building (Commercial/Office/residential)
Parking
6 Spaces (0.92 Spaces per 1,000 SF Leased)
Frontage
46’ on E. Washington
AMENITIES
- Bus Line
- Metro/Subway
- Signage
- Roof Terrace
- Storage Space
- Balcony
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5850-026-007 | Improvements Assessment | $459,722 |
| Land Assessment | $788,103 | Total Assessment | $1,247,825 |
PROPERTY TAXES
Parcel Number
5850-026-007
Land Assessment
$788,103
Improvements Assessment
$459,722
Total Assessment
$1,247,825
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1517 E Washington Blvd
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