Thank you
Q Jensan Cheng
JENOAK PROPERTIES
626-237-0101
This property is offered for sale mainly for its land value. An ideal property for developers and builders: It has a lot size of 14510 sq ft (or 1/3 acre), zoned PSC (allowing 60–87 units per acre, see Pasadena Land Use Map attached). The property can yield up to 28–31 buildable units. Check with the city for a high-density bonus unit allowance. There are a couple ongoing construction sites on the same street that have permits for 17 units on .20 ac (or 85 u/acre) and 19 units on .23 ac (or 84 u/acre). It is centrally located in Pasadena's most desirable area, south of Colorado, west of Lake, close to Old Town Pasadena, Cal Tech, 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. A substantial profit! All information provided is deemed reliable but is not guaranteed and should be independently verified. Seller made no warranties or representations of any kind.
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Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3331
Lot Size Source: Assessor
Lot Size Square Feet: 14510
Original List Price: 8,250,000
Listing Contract Date: 2024-04-01
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5734023020
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 647 - Pasadena (SW)
Postal Code Plus 4: 2622
Directions: South to Colorado, West of Lake, Cross street is Cordova
Zoning: PSC-
Source Property Type: Land
Area: 647 - Pasadena (SW)
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
264 E Bellevue Drive, Pasadena, CA,91101 | $2,599,000 | -- | -- | -- | 11416 Sqft |
288 S Oakland Avenue #214, Pasadena, CA,91101 | $815,000 | 1 | 2 | 870 | 20668 Sqft |
451 S Oakland Avenue #2, Pasadena, CA,91101 | $799,000 | 2 | 2 | 1,260 | 14002 Sqft |
484 S Euclid Avenue #101, Pasadena, CA,91101 | $719,000 | 2 | 3 | 1,217 | 25168 Sqft |
284 S Madison Avenue #202, Pasadena, CA,91101 | $599,000 | 2 | 1 | 1,347 | 13308 Sqft |
388 Cordova Street #704, Pasadena, CA,91101 | $919,000 | 1 | 2 | 1,030 | -- |
288 S Oak Knoll Avenue #8, Pasadena, CA,91101 | $669,000 | 2 | 2 | 1,020 | 7413 Sqft |
178 S Euclid Avenue #412, Pasadena, CA,91101 | $949,950 | 1 | 1 | 824 | 22527 Sqft |
805 Earlham Street, Pasadena, CA,91101 | $1,449,000 | -- | -- | 1,988 | 10086 Sqft |
805 Earlham Street, Pasadena, CA,91101 | $1,449,000 | 6 | 4 | 1,988 | 10086 Sqft |
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ByOwner last updated this listing 05/02/2024 @ 21:12
MLS: WS24063203
LISTED BY: Q JENSAN CHENG, JENOAK PROPERTIES
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.