Exclusive Listings

Pasadena Development Opportunity

Address:
500 S. Pasadena Ave
Pasadena, CA 91105
Price:
$5,200,000
Status:
Available
Type:
Land
# Units:
Year Built:
1954
Building Size:
5,592
Lot Size:
30,929
CAP Rate:
5
GRM:
5x
Price/Unit:
Price/SqFt:
$168

The Growth Investment Group is proud to present a unique development opportunity, located within walking distance to Old Town Pasadena, and just off Fair Oaks. The Property consists of 30,000 SF of flat land in the CD6 Zone (Fair Oaks Corridor) and presents the opportunity to develop Work/ Live units, or a Medical Use with the proximity to Huntington Hospital. This particular pocket is screaming for new construction, as it seems to be the last area in Pasadena without new development. This land will give Developers a chance to build a very unique product, in a market filled with the appropriate demographic to take advantage of these units. Work/ Live can be a great opportunity for a Sole Proprietor/ Entrepreneur to purchase a home and office in very desirable area of Pasadena, and can be the next most desirable type of unit, with all the internet and work from home based businesses.

Buyer to verify all information regarding zoning and check with the city on the ability to complete the desired project, and not rely on the listing broker to guarantee any project. Visit the Planning department or City website for Permitted Uses:

http://ww2.cityofpasadena.net/zoning/P-3.html#Table3-1-note



 Location

Located between Del Mar and California, just West of Fair Oaks - less than 1 mile from Colorado Blvd. Very walkable to all Old town Pasadena’s Restaurants and Shops. Easy access to all freeways 134, 210, and 110. This central Pasadena location is Prime for new development, close to everything Pasadena has to offer, and is not far from Downtown LA.


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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