W Washington Blvd., Pasadena

Pasadena is a highly prized city in terms of real estate, considering the high prices and high rents.  There is an opportunity to own a nice chunk of land, and for the list price of $279,000 you get two units (both units are two-bedrooms) and a lot size greater than 13,000 sqft.  The rents in Pasadena for two-bedrooms, conservatively, range from $1,200-$1,800 depending how close to Downtown Pasadena (see rates).  Considering the standard purchase requirements for an investor of a 25% down payment and assuming a 4.5% interest rate on a 30-year fixed mortgage, the mortgage payment would be approximately $1,400 a month or $16,800 a year and the down payment would be $70,000.  The rental income would approximately be, on the low end of scale, $2,400 a month or $28,800 a year.  Therefore, the approximate net income of this property would be $12,000 a year (28,800 – 16,800) and the return on investment would approximately be 17% a year (12,000/70,000).  For more details, you know how to reach us…

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