233 S Euclid Avenue

    Pasadena, CA 91101
    • $15,000,000
    • STATUS: Active
    • ON SITE: 145 days
    • ID#: 18346694
    UPDATED: 13 min ago
    $15,000,000
    • 0
      BEDS
    • 1.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    We are pleased to present a 1.3 acre site located in Prime Pasadena. The offering is currently an 18 unit office buildingwith 95% of the leases on a 1 year basis set to expire in 2019. Gross income generated as an office building year-to-date 2017 equatesto $630,660 which allows a developer to finance a portion of the project (please see attached rent roll). This lot is one of the last sitesof its size this far south of the 210 freeway. Zoned RM-48 HL-40(45), this site allows a developer to build up to 62 units by right andup to 84 units with a density bonus (buyer to verify with the City of Pasadena).233 S Euclid is ideally located in the high demand submarket of Pasadena, California which boasts high-end demographics ($107,000median household income w/in a 3-mile radius), dense immediate population (6,100 people / sq. mile), high barriers to entry andstrong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth pote

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-15T07:25:52.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/83841410

    233 S Euclid Avenue Pasadena, CA 91101

    • Price: $15,000,000
    • Status: Active
    • Updated: 13 min ago
    • ID#: 18346694
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.3
    Acres
    Neighborhood:
    648 - Pasadena (SE)
    County:
    Los Angeles
    Area:
    648 - Pasadena (SE)
    Property Description
    We are pleased to present a 1.3 acre site located in Prime Pasadena. The offering is currently an 18 unit office buildingwith 95% of the leases on a 1 year basis set to expire in 2019. Gross income generated as an office building year-to-date 2017 equatesto $630,660 which allows a developer to finance a portion of the project (please see attached rent roll). This lot is one of the last sitesof its size this far south of the 210 freeway. Zoned RM-48 HL-40(45), this site allows a developer to build up to 62 units by right andup to 84 units with a density bonus (buyer to verify with the City of Pasadena).233 S Euclid is ideally located in the high demand submarket of Pasadena, California which boasts high-end demographics ($107,000median household income w/in a 3-mile radius), dense immediate population (6,100 people / sq. mile), high barriers to entry andstrong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth pote
    Exterior Features

    Lot Size Dimensions A1.3 Lot Size Units Square Feet View See Remarks View YN Yes

    Property Features

    Association Fee 0.00 Special Listing Conditions Standard Zoning Rm-48 Hl-40(45)

    Listing provided courtesy of Filip Niculete of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-15T07:25:52.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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