Homes for sale - 1736 N Sierra Bonita AVE, Pasadena, CA 91104

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Nick Resendez

nick.resendez@gmail.com +1(714) 271-2565

$ 1,500,000

Est. payment | -/mo

0.32 Acres Lot

Save

$ 1,500,000

Est. payment | -/mo

Save

0.32 Acres Lot

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV24250858

HOA Y/N No

Year Built 1914

Lot Size 0.321 Acres

Lot Dimensions Assessor

Property Sub-Type Mixed Use

Property Description

This property offers an investor or developer the chance to build up to 10 residential units in a prime Altadena location just 5 minutes to shops, dining, and the 210 freeway. The property consists of two lots totaling 13,973 SF with three buildings. The two front buildings are commercial (1,008 SF and 2,138 SF), and there is a 912-SF, craftsman, 3-bed, 2-bath, fully remodeled, single-family home in the back. Max out the development and then sell for a profit, or hold it for long-term cash-flow. The $139,660 per year average household income within a one-mile radius provides a strong capacity for premium rents. A detailed review in a meeting with a Los Angeles County planner confirmed that an 8-unit apartment building could be constructed on the front, C2-zoned portion of the property without a conditional use permit. On the R2 portion, another unit could be built to create a duplex. In the wake of the Eaton Fire, which destroyed thousands of homes nearby, community members want to move back, but there aren't enough available rental units in the area. Building nine more units can meet a big need in a disaster-impacted community while creating a strong investment return. 2-Bedroom units currently command between $2,800 and $3,100 per month in the area, and 1-bedroom units fetch $2,100 to $2,400 a month. 3-bed, 2-bath duplex units will rent for between $3,400 and $3,700 a month. The existing single-family home can provide revenue during preconstruction, and the two commercial buildings offer additional options. All the structures are vacant, so you can get started implementing your vision right away. With stabilized annual revenue between $317,000 and $353,000 and multi-family properties selling at capitalization rates between 4.5% and 5.0%, the property would be worth between $4.9M and $5.5M.

Location

State CA

County Los Angeles

Area 646 - Pasadena (Ne)

Zoning C2, R2

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup, Inside, Laundry Room, Stacked

Exterior

Fence Wood

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Roof Type Asphalt,Composition,Flat,Shingle

Present Use Commercial,Residential,Single Family,Storage

Building

Lot Description Back Yard, Level, Near Public Transit, Rectangular Lot, Yard, Flat

Story 1

Water Public

Others

Tax ID 5851003003

Acceptable Financing Conventional, 1031 Exchange, Government Loan

Listing Terms Conventional, 1031 Exchange, Government Loan

Special Listing Condition Standard

Listed by Caleb Hanson KELLER WILLIAMS REALTY COLLEGE PARK 626-328-4199

Nearby Locations

SCHOOLSPROPERTIES

Elementary Schools 20

8

Odyssey Charter

Public | KG - 8
8

Field (Eugene) Elementary School

Public | KG - 5
7

Pasadena Rosebud Academy

Public | KG - 6
7

Aveson School of Leaders

Public | KG - 5
7

Hamilton Elementary School

Public | PK - 5
6

Daniel Webster Elementary School

Public | PK - 5
5

Washington Elementary School

Public | PK - 5
5

Longfellow Elementary School

Public | PK - 5
5

Norma Coombs Elementary School

Public | KG - 5
5

Willard Elementary School

Public | PK - 5
4

Franklin Elementary School

Public | PK - 5
4

Roosevelt Elementary School

Public | PK - 5
3

Cleveland Elementary School

Public | PK - 5
3

McKinley School

Public | KG - 8
3

Jefferson Elementary School

Public | PK - 5
2

Madison Elementary School

Public | PK - 5
2

Opportunities for Learning - Baldwin Park

Public | KG - 12
1

Altadena Arts Magnet

Public | PK - 5
1

Cis Academy

Public | KG - 12
0

Chandler School

Private | KG - 8

Middle Schools 12

8

Marshall Fundamental

Public | 6 - 12
6

Pasadena Rosebud Academy Middle School

Public | 7 - 8
5

Aveson Global Leadership Academy

Public | 6 - 12
4

Wilson Middle School

Public | 6 - 8
2

Charles W. Eliot Arts Magnet Academy

Public | 6 - 8
1

Washington STEAM Multilingual Academy

Public | 6 - 8
1

Opportunities for Learning - Baldwin Park II

Public | 7 - 12
1

Opportunities for Learning - Santa Clarita

Public | 7 - 12
0

Excelsior School

Private | 8 - 12
0

The Peace & Justice Academy

Private | 6 - 12
0

Learning Works

Public | 7 - 12
0

Rosemary School

Private | 8 - 12

High Schools 6

6

Pasadena High School

Public | 9 - 12
3

John Muir High School

Public | 9 - 12
0

Maranatha High School

Private | 9 - 12
0

Rose City High (Continuation)

Public | 9 - 12
0

Agbu Vatche and Tamar Manoukian High School

Private | 9 - 12
0

Agbu Vatche & Tamar Manoukian High School

Private | 9 - 12

School and business data provided by Attom Data.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 271-2565

nick.resendez@gmail.com

1736 N Sierra Bonita AVE Pasadena, CA 91104