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273 S Sierra Madre Boulevard, Pasadena, CA, 91107

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$3,850,000
142 Days On Site

273 S Sierra Madre Boulevard
Pasadena, CA 91107

For Sale|Land|Active
County:
Los Angeles

Due to the continued health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

Call Now: 503.200.4823
Is this the home for you? We can help make it yours.
503.200.4823
273 S Sierra Madre Boulevard273 S Sierra Madre Boulevard
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Monthly Payment (Est.)

$17,565
Calculator powered by Showcase IDX. Copyright ©2024 Information is deemed reliable but not guaranteed.

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.

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Listing Snapshot
Price 
$3,850,000
Days On Site 
142 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.3356 Acres
Year Built 
N/A
MLS® Number 
24415513
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
5 days agoListing updated with changes from the MLS®
3 months agoPrice changed to $3,850,000
5 months agoListing first seen on site
General Features
Acres 
0.3356
Special Circumstances 
Standard
Zoning 
LCR4YY
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Exterior Features
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None
Waterview 
None
Community Features
MLS Area 
648 - Pasadena (SE)
Listing courtesy of Benjamin J. Hsiang of Realty Investment Advisors, Inc.
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Based on information from the The MLS as of 2024-12-12 06:43 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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