273 S Sierra Madre Blvd Pasadena, CA 91107
Active
$3,850,000
8%
26 Units
42 Beds
41 Baths
28,274 Area(sq.ft.)
14,740 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 18 | 1 | 1 | No | n/a | n/a | n/a |
| Unit 2 | 8 | 3 | 2 | No | n/a | n/a | n/a |
| 2 | 26 | 42 | 34 | $ 0 | $ 0 | $ 0 |
| MLS #: | 24-415387 |
| Days On Market: | 144 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 136 |
| Price per unit: | $ 148,077 |
| Year Built: | 2026 |
Property Details
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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 100% |
| Gross Operating Income: | $ 0 |
| Total Annual Expense: | $ 0 |
| Net Operating Income: | $ 0 |
| Gross Annual Income: | $ 0 |
| Gross Rent Multiplier: | 0.00 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Three Or More |
Land & Parking
| Zoning: | LCR4YY |
| Parking Garage: | Community Garage |
| Total Parking: | 31 |
Interior
| AC/Cooling: | Central |
| Equipment: | None |
| Heating: | Central |
Exterior
Detailed Map
Schools
Find a great school for your child
Income
