1135 E Villa Street East

  • Pasadena

  • $470,000
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Home sold on Monday, October 1, 2018. For available homes, view Similar Homes or Search Properties.


Residential Income Details

Description
Prime corner property at the intersection of Villa Street and Mar Vista Avenue, in between Lake & Hill Street, one block north of the 210 Freeway. Tremendous future development opportunity, currently structures on the property include a corner retail market and and 1BD-1BA residential unit. Residential unit has one additional bedroom which may not be permitted. (Please check with city for building permits).Current multi-tenant mixed use property with tremendous future development opportunity for multifamily residential. RM-32 Zoning with, possible 4 units can be developed at property. Please verify all uses and potential development possibilities with the City of Pasadena.HUGE RENTAL UPSIDE. Long term tenants currently occupying the property. Residential unit at the property is currently leased month to month while the commercial retail unit has 4 years remaining on the lease. Residential unit paying $600/mo and commercial unit paying $725/mo starting 9/1/2018 for a total annual income of $15,900 annually. Projected market rents with renovations to the residential unit could bring in $2,000 +/- per month for projected $32,700 annual gross income.
Essential
MLS #818003713
Price$470,000
Number of Units2
Sale TypeStandard
StatusClosed
Listing BrokerageA1 West Commercial Real Estate
Listing AgentMichael Dostalek
Listing Agent BRE #01343641
Interior
Exterior
Garage Spaces1
Community
Area646 - Pasadena (NE)
TractNot Applicable - 1007242
Address1135 E Villa Street East
CityPasadena
CountyLos Angeles
StateCA
ZipCode91106
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, October 2, 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.