273 S Sierra Madre Boulevard, Pasadena, CA 91107

  • $3,850,000
  • $136
273 S Sierra Madre Boulevard, Pasadena, CA 91107
  • Residential Income
  • Property Type
  • 42
  • Bedrooms
  • 41
  • Bathrooms
  • 28274.00
  • 2026
  • Year Built
For Sale
273 S Sierra Madre Boulevard, Pasadena, CA 91107
  • $3,850,000
  • $136

Overview

Property ID: SGR-34088306
  • Residential Income
  • Property Type
  • 42
  • Bedrooms
  • 41
  • Bathrooms
  • 28274.00
  • 2026
  • Year Built

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 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.

  • Address 273 S Sierra Madre Boulevard
  • City Pasadena
  • State/county CA
  • Zip/Postal Code 91107
  • Area 648 - Pasadena (SE)
  • Country United States

Details

Updated on October 1, 2024 at 6:42 am
  • Property ID: SGR-34088306
  • Price: $3,850,000
  • Property Size: 28274.00 m²
  • Land Area: 14740.00 m²
  • Bedrooms: 42
  • Bathrooms: 41
  • Year Built: 2026
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 28274.00
  • MLS#: 24415387
  • Office Name: REALTY INVESTMENT ADVISORS, INC.
  • Agent Name: Benjamin J. Hsiang
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Co-Office Name: Realty Investment Advisors, Inc.
  • Co-Agent Name: Alexander Metaxas
  • Agent State License: 01438644
  • Co-Agent State License: 01784652

Additional details

  • Cooling: Central Air
  • Heating: Central
  • County: Los Angeles
  • Parking: 31.00

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