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$8,150,000
Est. payment /mo
0.33 Acres Lot
UPDATED:
12/13/2024 07:14 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS24231478
HOA Y/N No
Lot Size 0.333 Acres
Lot Dimensions Assessor
Property Description
This property is offered for sale mainly for its land value. An ideal property for developers and builders: It has a lot size of 1/3 acre (66x220), zoned PSC (allowing a min of 87 units per acre; see Pasadena Land Use Map attached). The property can yield up to 29–32 buildable units. Check with the city for a high-density bonus unit allowance. It is centrally located in Pasadena's most desirable area, south of Colorado, west of Lake, close to Old Town Pasadena, Caltech, PCC, and Kaiser Permanente Medical School. Easy access to Fwy 110 to Downtown LA and Fwy 134 to Glendale. Presently, the property has 4 existing structures on the lot, consisting of 1 SFR, 1 duplex, and 2 fourplexes, with a GSI of up to $332,000 per year (pro forma). Great bonus while waiting for building permits! All structures are to be sold "as is." Submit your best offer by considering the number of buildable units and the value of all the new units after construction. All information provided is deemed reliable but is not guaranteed and should be independently verified. The seller made no warranties or representations of any kind.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Zoning PSC-
Interior
Fireplace No
Exterior
Fence Block, Masonry
Community Features Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N No
View None
Building
Water Public
New Construction No
Others
Senior Community No
Tax ID 5734023020
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Owner May Carry
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Owner May Carry
Special Listing Condition Standard
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Listed by Q JENSAN CHENG • JENOAK PROPERTIES • 6268172818
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