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Listed by Enrique Lizarazu • COMPASS
$1,000,000
Est. payment /mo
6,807 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPF25256939
Year Built 1905
Lot Size 6,807 Sqft
Source California Regional MLS
Property Description
Unique investment opportunity in the heart of Pasadena-perfectly situated within walking distance to Colorado Boulevard, Pasadena City College, and Caltech. This property, zoned RM48, offers significant development potential in one of the most desirable and transit-accessible neighborhoods in the city. While the tax records show the property as a duplex, it is currently operating with five income-generating units. With an attractive Gross Rent Multiplier and Cap Rate, this asset allows you to collect income immediately while submitting plans for new construction or redevelopment. Additional property highlights include: Common laundry facility / Two water heaters/One electric meter and one gas meter/ Delivered with existing tenants in place This is a rare chance to secure a well-located, income-producing property with strong upside potential in a high-demand rental market. Whether you're looking to expand your portfolio or begin a new project, this property offers both stability and opportunity. New sewer line.
Location
State CA
County Los Angeles
Area 648 - Pasadena (Se)
Interior
Heating Floor Furnace , Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Laundry Area, Washer, Washer/Dryer - Owned, Dryer
Exterior
Garage Spaces 5.0
Pool 31, None
View None
Building
Lot Description Grade - Level
Foundation Raised, Unreinforced Masonry, Combination, Concrete Slab
Water District - Public
Others
Tax ID 5735015003
Special Listing Condition Not Applicable
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