273 South Sierra Madre Boulevard

Pasadena, CA 91107

$3,850,000
Price
42
Beds
41
Baths
28,274 Sq. Ft.
$136 / Sq. Ft.
28,274
Sq. Ft.
$136
per Sq. Ft.

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...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.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 273 South Sierra Madre Boulevard

Zoning
LCR4YY
Parcel Number
5330006005
Total Units
26.0
Living Area
28274
Source Living Area
Plans
Area
Pasadena SE (648)
Vacancy Rate
100%
Lot Size Area
14740
LISTING UPDATED: 09/27/2024 03:30 PM

Property Details for 273 South Sierra Madre Boulevard

StatusActive
MLS #24-415387
Days on Market95
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2026
Lot Size0.34 AC / 14,740 SF
CountyLos Angeles County

Building Information for 273 South Sierra Madre Boulevard

Stories4Residences-Year Built2026Building Size-Lot Size0.34 AC / 14,740 SF

Property Information for 273 South Sierra Madre Boulevard

Community / Development
Community / Development
  • Number Of Units: 26
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Estimated
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • Property Condition: New Construction
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $0
  • Net Operating Income: $.00
  • Gross Income: $0
  • Gross Rent Multiplier: $.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3356
  • Lot Size Square Feet: 14740
Parking Details
Parking Details
  • Parking Garage: Community Garage
  • Total Parking: 31
  • Parking Features: Community Structure
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: Yes
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 18
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,020,000.00
  • Assessed Improvement Percent: 50.0
  • Assessed Land Value: $1,020,000.00
  • Assessed Land Percent: 50
  • Assessed Total Value: $2,040,000.00

Property History for 273 South Sierra Madre Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 273 South Sierra Madre Boulevard

Taxable ValueLand$1,040,400Additions$1,040,400Total$2,080,800
Tax Record2024$25,063 ($2,089 / month)
Home Facts
Total Finished SqFt3,658 SqFtAbove Grade Finished SqFt3,658 SqFtLot Size14,602 SqFtStyleMulti-Family Res (5+ Units)ZoningLCR4YYCountyLOS ANGELESAPN5330-006-005

Schools near 273 South Sierra Madre Boulevard

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 7 to 12
Rating
School
Distance
Hamilton Elementary School
PublicK to 5

Woodrow Wilson Middle School
Public6 to 8

Pasadena High School
Public9 to 12

Learning Works School
Charter7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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273 South Sierra Madre Boulevard is a multi-family home for sale in Pasadena, CA 91107. This property was listed for sale on July 15, 2024 by Realty Investment Advisors, Inc., it's currently listed at $3,850,000. It has been on the market for a total of 95 days and was last sold on September 24, 2021. This listing's school district is Pasadena Unified School District. Nearby schools include Hamilton Elementary School, Woodrow Wilson Middle School and Pasadena High School. 273 South Sierra Madre Boulevard is a 42-bed, 41-bath, 28,274 sqft multi-family home built in 2026.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.