273 S Sierra Madre Boulevard

Pasadena, CA 91107

  • 42 Bed(s)
  • 0 Bath(s)
  • 28,274 Sqft
  • 14740
    Sqft(Lot)
$3,850,000

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.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    46393224

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Property Details

  • Bedroom Information

    • Total Bedrooms : 42

    Bathroom Information

    • Total Baths: 41
    • Full Baths: 0
    • Half Baths: 0

    Cooling Features

    • Central Air
    • Air Conditioning

    Heating Source

    • Central
    • Has Heating

  • Building Information

    • Year Built: 2026
    • Building Area Total: 28,274

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.3384
    • Lot Size Source: Plans
    • Lot Size Square Feet: 14740

  • Listing Price Information

    • Original List Price: 3,850,000
    • Listing Contract Date: 2024-07-15

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5330006005

  • Garage and Parking

    • Garage Description: Community Structure

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 648 - Pasadena (SE)
    • Postal Code Plus 4: 4883
    • Directions: East on Del Mar Blvd, South on Sierra Madre Blvd
    • Zoning: LCR4YY
    • Source Property Type: Residential Income
    • Area: 648 - Pasadena (SE)

    Building and Construction

    • Property Age: -1
    • Year Built Source: Estimated
    • Total Square Feet Living: 28274
    • Levels or Stories: Three Or More
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BuyOwner last updated this listing 01/18/2025 @ 18:15

  • MLS: 24415387
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 42 bedrooms which is for sale, it has 28,274 sqft, 14,740 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of South Pasadena , in zip code 91107, this Los Angeles County Home are nearby neighborhoods.