273 South Sierra Madre Boulevard
$3,850,000
42
41
28,274
28,274
$136
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.
Property Details for 273 South Sierra Madre Boulevard
Zoning
LCR4YY
Parcel Number5330006005
Total Units26.0
Living Area28274
Source Living AreaPlans
AreaPasadena SE (648)
Vacancy Rate100%
Lot Size Area14740
LISTING UPDATED: 10/29/2024 04:37 PM
Property Details for 273 South Sierra Madre Boulevard
Status | Active |
---|---|
MLS # | 24-415387 |
Days on Market | 108 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2026 |
Lot Size | 0.34 AC / 14,740 SF |
County | Los 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
Property History for 273 South Sierra Madre Boulevard
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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