233 S Euclid Av Pasadena, CA 91101

$15,000,000
Pasadena, CA   91101
0 Beds, 0.0 Baths, 0 sq ft, 56,580 sq ft lot, Built in 0
233 S Euclid Av, Pasadena, CA 91101 Photo 0
233 S Euclid Av, Pasadena, CA 91101 Photo 1
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0 Beds,
0.0 Baths,
0 sq ft,
56,580 sq ft lot
Built in 0

Description

MLS# 18346694

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 Listed by Filip Niculete, Marcus & Millichap.

Description

MLS# 18346694

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 Listed by Filip Niculete, Marcus & Millichap.

Area
AREA: 648 - Pasadena (SE)
COUNTY: LA
Building Info
VIEW: See Remarks
Community
HOA DUES 1: 0.00
Land
LOT DIMENSIONS: A1.3
ZONE: RM-48 HL-40(45)
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