$1,940,000
$2,150,000
9.8%For more information regarding the value of a property, please contact us for a free consultation.
10,018 Sqft Lot
SOLD DATE : 04/16/2021
Key Details
Sold Price $1,940,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR20253588
Sold Date 04/16/21
HOA Y/N No
Year Built 1921
Lot Size 10,018 Sqft
Property Description
For sale is a unique opportunity for an investor or developer to purchase both an investment
and development property.
DEVELOPMENT OPPORTUNITY
Featuring two parcels with two different assessor parcel numbers, one of the parcels has a 6,560 sf two story structure that is currently leased, and is being used as a permitted group home. The size of that lot with the structure is 10,125sf. The current tenant can stay, or be vacated.
On the adjacent lot, is a vacant piece of land that can be developed into a 3 unit property per the City of Pasadena's current building codes. This lot is 9,500sf.
Combined, the two lots make up 19,625 sf and a total of seven units could be built on the two parcels if developed together.
INVESTMENT OPPORTUNITY
An investor can purchase this property and collect rent from the current in-place tenant. An investor could also choose to add value by vacating the current tenant, renovating the premises, and placing a new higher-paying tenant.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Zoning PSC-
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Driveway
Pool None
Community Features Foothills, Street Lights, Suburban, Sidewalks
Private Pool No
Building
Lot Description 2-5 Units/Acre, 6-10 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5729032016
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Michael Kobeissi • Kobeissi Properties
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”