Description
For sale is a unique opportunity for an investor or developer to purchase both an investment and development property. DEVELOPMENT OPPORTUNITY Featuring two parcels with two different assessor parcel numbers, one of the parcels has a 6,560 sf two story structure that is currently leased, and is being used as a permitted group home. The size of that lot with the structure is 10,125sf. The current tenant can stay, or be vacated. On the adjacent lot, is a vacant piece of land that can be developed into a 3 u For sale is a unique opportunity for an investor or developer to purchase both an investment and development property. DEVELOPMENT OPPORTUNITY Featuring two parcels with two different assessor parcel numbers, one of the parcels has a 6,560 sf two story structure that is currently leased, and is being used as a permitted group home. The size of that lot with the structure is 10,125sf. The current tenant can stay, or be vacated. On the adjacent lot, is a vacant piece of land that can be developed into a 3 unit property per the City of Pasadena's current building codes. This lot is 9,500sf. Combined, the two lots make up 19,625 sf and a total of seven units could be built on the two parcels if developed together. INVESTMENT OPPORTUNITY An investor can purchase this property and collect rent from the current in-place tenant. An investor could also choose to add value by vacating the current tenant, renovating the premises, and placing a new higher-paying tenant.
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8BEDS
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0.23ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
For sale is a unique opportunity for an investor or developer to purchase both an investment and development property. DEVELOPMENT OPPORTUNITY Featuring two parcels with two different assessor parcel numbers, one of the parcels has a 6,560 sf two story structure that is currently leased, and is being used as a permitted group home. The size of that lot with the structure is 10,125sf. The current tenant can stay, or be vacated. On the adjacent lot, is a vacant piece of land that can be developed into a 3 u For sale is a unique opportunity for an investor or developer to purchase both an investment and development property. DEVELOPMENT OPPORTUNITY Featuring two parcels with two different assessor parcel numbers, one of the parcels has a 6,560 sf two story structure that is currently leased, and is being used as a permitted group home. The size of that lot with the structure is 10,125sf. The current tenant can stay, or be vacated. On the adjacent lot, is a vacant piece of land that can be developed into a 3 unit property per the City of Pasadena's current building codes. This lot is 9,500sf. Combined, the two lots make up 19,625 sf and a total of seven units could be built on the two parcels if developed together. INVESTMENT OPPORTUNITY An investor can purchase this property and collect rent from the current in-place tenant. An investor could also choose to add value by vacating the current tenant, renovating the premises, and placing a new higher-paying tenant.