1135 E Villa Street East

  • Pasadena

  • $549,000
  • Acres
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Lot/LandDetails

Description & Essential
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 #818003718
Price$549,000
Lot Square Feet≈ 6,260
StateCA
Area646 - Pasadena (NE)
ZoneRM-32
StatusActive Under Contract
Sale TypeStandard
Listing BrokerageA1 West Commercial Real Estate
Listing AgentMichael Dostalek
Listing Agent BRE #01343641

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Based on information from California Regional Multiple Listing Service, Inc. as of Wednesday, August 15, 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.