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130 N Mar Vista Avenue
USD 3,088,000
Property ID: 23327221
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130 N Mar Vista Avenue ,91106
icon Land
icon 15426 SqFt
icon Built in 0001
icon USD 200/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
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Construction Details
Property Type Land
Property Condition --
Architectural Style --
New Construction --
Year Built 0001
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Detailed Introduction Of This Home
We are pleased to present a unique opportunity to acquire an entitled development site for a 23-unit apartment complex located at 130-140 N. Mar Vista Avenue in Pasadena. Expertly designed by the well-known Tighe Architecture firm, the proposed building features 13 two-bedroom + two-bath units, 9 one-bedroom + one-bath units, and 1 studio + one-bath unit situated above one level of subterranean parking. One of the biggest hurdles in Pasadena is obtaining design and concept approval for a residential development. This project has successfully cleared and secured that final approval. It is now ready for the next phase, construction design drawings and City plan check, en route to obtaining Ready to Issue (RTI) permits status and then start construction. This stage allows a new owner the flexibility to use any or all their own consultants and preferred companies for the CD process. The design of the building encompasses Pasadena's architectural heritage and enriches it with a modern touch. The project features ground level resident garden areas as well as a private rooftop garden and deck space. The site consists of two lots totaling +/- 15,426 square feet and with a corner location the project is designed for efficient use of space and maximum curb appeal. A huge advantage to a newly constructed property is the exemption from local Pasadena rent control laws, providing an owner with greater operational flexibility. Strategically situated south of the 210 freeway, the location offers easy access to the Metro Gold Line and South Lake Avenue, enhancing its attractiveness to prospective residents in what is already a consistently high demand rental city. Currently there is a house and a triplex on the lots that are being rented out month to month and generate a total monthly income of almost $7,300. In summary, this is a compelling investment opportunity that combines a prime location, thoughtful design, and operational advantages in a robust rental market.
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Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
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Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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130 N Mar Vista Avenue
USD 3,088,000 0 Beds
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