Walnut St Pasadena, CA 91103

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.