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273 S Sierra Madre Blvd

Pasadena, CA 91107
  • $3,850,000
  • STATUS: Active
  • ON SITE: 206 Days
  • MLS #: 24-415387
UPDATED: 50 min ago
$3,850,000
  • 42
    BEDS
  • 0.34
    ACRES
  • 41
    BATHS
  • 0
    1/2 BATHS
  • 28,274
    SQFT
  • $136
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2026
County:
Area:

School Ratings & Info

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-09T08:43:04.38. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/152715662
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273 S Sierra Madre Blvd Pasadena, CA 91107

  • Price: $3,850,000
  • Status: Active
  • On Site: 206 Days
  • Updated: 50 min ago
  • MLS #: 24-415387
42
Beds
41
Baths
0
½ Baths
0.34
Acres
28,274
SQFT
$136
$/SQFT
2026
Built
Neighborhood:
Pasadena Se
County:
Los Angeles
Area:
Pasadena Se
Property 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.
Exterior Features

Levels Three Or More Lot Size Area 14740 Other Structures None Parking Garage Community Garage Total Parking 31

Interior Features

Common Walls Attached Cooling Central Equipment None Heating Central

Property Features

Assessed Total Value 2040000 Disclosures None Gross Income 0 Gross Operating Income 0 Like Units1 18 Like Units2 8 Net Operating Income 0.00 Number Of Buildings 1 Number Of Units 26 Property Condition New Construction Sale Type Standard Source Living Area Plans Source Lot Size Area Plans Total Annual Expense 0 Type Of Units Apartments Year Built Source Estimated Zoning LCR4YY

Listing provided courtesy of Benjamin J. Hsiang DRE#01438644 of Realty Investment Advisors, Inc.: .


Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-09T08:43:04.38. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The John Jay Group - Bennion Deville Homes
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