1135 E Villa St Pasadena, CA 91106

$549,000
Pasadena, CA   91106
0 Beds, 0.0 Baths, 0 sq ft, 6,260 sq ft lot, Built in 0
1135 E Villa St, Pasadena, CA 91106 Photo 0
1135 E Villa St, Pasadena, CA 91106 Photo 1
1135 E Villa St, Pasadena, CA 91106 Photo 2
0 Beds,
0.0 Baths,
0 sq ft,
6,260 sq ft lot
Built in 0

Description

MLS# 818003718

Prime corner property at the intersection of Villa Street and Mar Vista Avenue, in between Lake & Hill Street, one block north of the 210 Freeway. Tremendous future development opportunity, currently structures on the property include a corner retail market and and 1BD-1BA residential unit. Residential unit has one additional bedroom which may not be permitted. (Please check with city for building permits).Current multi-tenant mixed use property with tremendous future development opportunity for multifamily residential. RM-32 Zoning with, possible 4 units can be developed at property. Please verify all uses and potential development possibilities with the City of Pasadena.HUGE RENTAL UPSIDE. Long term tenants currently occupying the property. Residential unit at the property is currently leased month to month while the commercial retail unit has 4 years remaining on the lease. Residential unit paying $600/mo and commercial unit paying $725/mo starting 9/1/2018 for a total annual income of $15,900 annually. Projected market rents with renovations to the residential unit could bring in $2,000 +/- per month for projected $32,700 annual gross income. Listed by Michael Dostalek, A1 West Commercial Real Estate.

Description

MLS# 818003718

Prime corner property at the intersection of Villa Street and Mar Vista Avenue, in between Lake & Hill Street, one block north of the 210 Freeway. Tremendous future development opportunity, currently structures on the property include a corner retail market and and 1BD-1BA residential unit. Residential unit has one additional bedroom which may not be permitted. (Please check with city for building permits).Current multi-tenant mixed use property with tremendous future development opportunity for multifamily residential. RM-32 Zoning with, possible 4 units can be developed at property. Please verify all uses and potential development possibilities with the City of Pasadena.HUGE RENTAL UPSIDE. Long term tenants currently occupying the property. Residential unit at the property is currently leased month to month while the commercial retail unit has 4 years remaining on the lease. Residential unit paying $600/mo and commercial unit paying $725/mo starting 9/1/2018 for a total annual income of $15,900 annually. Projected market rents with renovations to the residential unit could bring in $2,000 +/- per month for projected $32,700 annual gross income. Listed by Michael Dostalek, A1 West Commercial Real Estate.

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    Mike Misquez, MBA

    NMLS# 1662824

    Direct: (909) 251-2560
    Email: mike@colonialres.com

Area
AREA: 646 - Pasadena (NE)
B TRACT: Not Applicable - 1007242
COUNTY: LA
Land
ZONE: RM-32
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Nearby cities:    Monrovia    Thousand Oaks    Sierra Madre    Temple City    South Pasadena    San Gabriel