Skip To Content

273 S Sierra Madre Boulevard

Pasadena, CA 91107
  • $3,850,000
  • STATUS: Active
  • ON SITE: 79 Days
  • ID#: 24415513
UPDATED: 71 min ago
$3,850,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Benjamin J. Hsiang of Realty Investment Advisors, Inc. () and Alexander Metaxas of ()


Description

We are pleased to present a rare development and investment opportunity just 1/3 of a mile to the San Marino city limit. The new owner will have the opportunity to develop a brand new, modern 26-unit apartment building project in the Unincorporated area of Pasadena. This development boasts a contemporary design, featuring 31 on-grade parking spaces (NO SUBTERRANEAN) with a highly desirable unit mix, ensuring strong, long term rental demand. The future apartments benefit from the absence of Pasadena City rent control laws, providing a significant advantage for investors by maximizing potential returns. This opportunity is made even more attractive as the project will be delivered with fully approved plans and will be permit-ready (RTI), allowing for a expedited construction process. Additionally, the property's versatility is enhanced by the potential to create two 1+1 ADUs by converting storage rooms into additional units, bringing the total to 28 apartments. This flexibility offers an excellent chance to increase rental income and overall property value. Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. The shortage of new construction apartment properties in Pasadena will help this rare building maintain stable and high valuation. Property is currently fully vacant, so no tenant relocations required.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-10T11:31:08.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or DeBonis Homes | Coldwell Banker. Licensed in the State of California, USA.
www.debonishomes.com/homes/152851503
Print Image

273 S Sierra Madre Boulevard Pasadena, CA 91107

  • Price: $3,850,000
  • Status: Active
  • On Site: 79 Days
  • Updated: 71 min ago
  • ID#: 24415513
0
Beds
0
Baths
0
½ Baths
0.34
Acres
Neighborhood:
648 - Pasadena (SE)
County:
Los Angeles
Area:
648 - Pasadena (SE)
Property Description
We are pleased to present a rare development and investment opportunity just 1/3 of a mile to the San Marino city limit. The new owner will have the opportunity to develop a brand new, modern 26-unit apartment building project in the Unincorporated area of Pasadena. This development boasts a contemporary design, featuring 31 on-grade parking spaces (NO SUBTERRANEAN) with a highly desirable unit mix, ensuring strong, long term rental demand. The future apartments benefit from the absence of Pasadena City rent control laws, providing a significant advantage for investors by maximizing potential returns. This opportunity is made even more attractive as the project will be delivered with fully approved plans and will be permit-ready (RTI), allowing for a expedited construction process. Additionally, the property's versatility is enhanced by the potential to create two 1+1 ADUs by converting storage rooms into additional units, bringing the total to 28 apartments. This flexibility offers an excellent chance to increase rental income and overall property value. Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. The shortage of new construction apartment properties in Pasadena will help this rare building maintain stable and high valuation. Property is currently fully vacant, so no tenant relocations required.
Exterior Features

Parking Total 0 View None View YN No

Property Features

Association YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LCR4YY



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-10T11:31:08.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or DeBonis Homes | Coldwell Banker. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373090886-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373090886-2.jpg
Logo
DeBonis Homes | Coldwell Banker
6809 Brockton Ave.
Riverside CA, 92506
Listing Agent(s): Benjamin J. Hsiang of Realty Investment Advisors, Inc. () and Alexander Metaxas of ()