233 S Euclid Avenue

  • Pasadena

  • $12,500,000
  • Acres
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Lot sold on Tuesday, October 16, 2018. For available lots, view Similar Lots or Search Properties.


Lot/LandDetails

Description & Essential
Description
We are pleased to present a 1.3 acre site located in Prime Pasadena. The offering is currently an 18 unit office buildingwith 95% of the leases on a 1 year basis set to expire in 2019. Gross income generated as an office building year-to-date 2017 equatesto $630,660 which allows a developer to finance a portion of the project (please see attached rent roll). This lot is one of the last sitesof its size this far south of the 210 freeway. Zoned RM-48 HL-40(45), this site allows a developer to build up to 62 units by right andup to 84 units with a density bonus (buyer to verify with the City of Pasadena).233 S Euclid is ideally located in the high demand submarket of Pasadena, California which boasts high-end demographics ($107,000median household income w/in a 3-mile radius), dense immediate population (6,100 people / sq. mile), high barriers to entry andstrong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth pote
Essential
MLS #18346694
Price$12,500,000
Lot Square Feet≈ 56,580
CountyLos Angeles
StateCA
ViewSee Remarks
Area648 - Pasadena (SE)
ZoneRM-48 HL-40(45)
StatusClosed
Sale TypeStandard
Listing BrokerageMarcus & Millichap
Listing AgentFilip Niculete
Listing Agent BRE #01905352

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, October 16, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.