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Listed by Tzu-ning Chang • Keller Williams Realty
$ 2,400,000
Est. payment /mo
Pending
999 Cordova Street Pasadena, CA 91106
4,316 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 4,316 sqft
Price per Sqft $556
MLS Listing ID CRP1-22624
HOA Y/N No
Year Built 1953
Lot Size 0.279 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Exceptional multifamily investment with ADU/redevelopment opportunity at 999 Cordova Street (aka 153 S. Catalina Avenue) in the City of Pasadena, California. With its rare large lot size of +/-12,171 SF in one of Pasadena's most sought-after neighborhoods at the intersection of Cordova Street and Catalina Avenue, the property presents an extraordinary opportunity to either redevelop ADU units, or redevelopment the entire property to up to 27 multifamily units with its CD-MU-N Zoning and leveraging the State of California's AB 2345 density bonus (Buyer verify). With its phenomenal location, the property is just minutes' walk from the South Lake Avenue commercial district, Old Town Pasadena, the Paseo shopping center, Caltech, Pasadena City College, and the Metro Gold Line. Tenants enjoy walkable access to a vibrant mix of retail, dining, and entertainment options, as well as close proximity to major employers.Therefore, the large +/-12,171 SF lot size may allow 18 units by right (Buyer verify). The investor/developer can benefit from the property's strong current income with rental upside from its existing 8 units.This meticulously maintained and professionally managed property features eight (8) existing 1 Bed / 1 Bath units with ample carport and street parking and attractive mi
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Wood
Fireplace No
Laundry Common Area, Other
Exterior
View None
Building
Lot Description Other, Front Yard
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