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Listed by Caleb Hanson • KELLER WILLIAMS REALTY COLLEGE PARK
$1,600,000
Est. payment /mo
4,068 SqFt
Active
1736 N Sierra Bonita Avenue Pasadena, CA 91104
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,068 sqft
Price per Sqft $393
MLS Listing ID CRCV24250858
HOA Y/N No
Year Built 1914
Lot Size 0.321 Acres
Property Sub-Type Mixed Use
Source Datashare California Regional
Property Description
This property offers an investor or developer the chance to build up to 10 residential units in a prime Altadena location just 5 minutes to shops, dining, and the 210 freeway. The property consists of two lots totaling 13,973 SF with three buildings. The two front buildings are commercial (1,008 SF and 2,138 SF), and there is a 912-SF, craftsman, 3-bed, 2-bath, fully remodeled, single-family home in the back. Max out the development and then sell for a profit, or hold it for long-term cash-flow. The $139,660 per year average household income within a one-mile radius provides a strong capacity for premium rents. A detailed review in a meeting with a Los Angeles County planner confirmed that an 8-unit apartment building could be constructed on the front, C2-zoned portion of the property without a conditional use permit. On the R2 portion, another unit could be built to create a duplex. In the wake of the Eaton Fire, which destroyed thousands of homes nearby, community members want to move back, but there aren’t enough available rental units in the area. Building nine more units can meet a big need in a disaster-impacted community while creating a strong investment return. 2-Bedroom units currently command between $2,800 and $3,100 per month in the area, and 1-bedroom units fetch
Location
State CA
County Los Angeles
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
Water Public
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