3508 S WASHINGTON Blvd E
Property Description
Rare opportunity to own a highly updated 5-plex with established nightly rental income and significant upside. Two units are currently operating as successful nightly rentals, two more have been fully remodeled and are nearly ready to launch, and the fifth is occupied month-to-month at $1,200/month. Gross potential income is approximately $98,000+ annually. Originally built in 1929, this property underwent a major renovation in 2001 including new electrical, plumbing, insulation, and more. Ownership has continued to invest heavily in the building with a newer Slant/Fin boiler, high-efficiency Carrier heat pumps, and an 80-gallon commercial water heater. Two heat pumps were replaced under warranty in summer 2026. Strong short-term rental potential, and major systems already updated make this an unusually low-maintenance investment. For investors seeking STR income, there may also be attractive cost segregation and accelerated depreciation opportunities under current tax law. Buyer to verify tax benefits with their advisor. A lot of the hard work has already been done.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,049,900 |
| No. of Units: | 5 |
| Year Built: | 1929 |
| Lot Size: | 4,860.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $209,980 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 5 |
ID: 3yd-WFRMLSUT-2180669
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout