For Sale
$8,000,000

0 Walnut StPasadena, CA 91103

Prime Pasadena land, 84 micro-unit potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 0.91-acre land parcel in Pasadena, CA (APN: 5737-007-011, 5737-007-012, 5737-007-057, 5737-007-060, 5737-007-065), located on W Walnut St, zip code 91103, presents a unique opportunity for development. The site is ideally positioned to capitalize on Pasadena's robust rental market and significant housing shortage. Plans call for a three-level building featuring 84 micro-units, a mix of market-rate, moderate-income, low-income, and very low-income units (68, 7, 4, and 5 respectively). The proposed development includes desirable amenities such as a welcoming courtyard pool, spa, dog park, indoor lounge, and gym. The building will incorporate Type 5 construction over an on-grade Type 1 parking structure. This location offers unparalleled convenience, with close proximity to the California Institute of Technology, Pasadena City College, public transportation, employment centers, and entertainment options. The asking price for this exceptional development opportunity is $8,000,000. Given Pasadena's high rental rates and housing demand, this project promises strong returns for investors. The central location and planned amenities will attract a diverse range of residents, ensuring high occupancy rates. This is a rare chance to acquire a prime development site in a thriving California city.

Highlights

  • $8,000,000 asking price for 0.91-acre land parcel.
  • Located in Pasadena, CA (91103), Los Angeles County.
  • APN: 5737-007-011, 5737-007-012, 5737-007-057, 5737-007-060, 5737-007-065.
  • Proposed 84-unit micro-apartment development with a mix of market-rate, moderate-income, and low-income units.
  • Amenities include a courtyard pool, spa, dog park, lounge, and gym.

Property Details for 0 Walnut St

Property type
Land
Lot Size (sq. ft)
39,640 SF

Location Insight

City
Pasadena
County
Los Angeles
State
California
Latitude
34.1496435
Longitude
-118.1564194
Walnut St, Pasadena, California

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0 Walnut St
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