4 SFR near Old Town Pasadena, RM-48 zoning, 20k SF Lot - Up To 23units

Highlights:

• - Four Single Family Houses portfolio being offered for sale as a development deal
• - Large 20,473SF (0.47Acre) R4 High-Density Zone Lot
• - Buildable up to 23 units for sale or for rent market rate units before any bonus density
• - 2 out of the 4 houses are vacant and can be delivered vacant
• - Each house is a 2 bedroom + 1 bathroom house, complete with garage parking – Very well maintained with excellent curb appeal
• - Excellent location minutes away from Old Town Pasadena, Rose Bowl, and FWY 210
• - First Time for Sale since 1961, 1981,1983, and 1988.
• - Walk Score 84, Bike Score 87, Adjacent to multiple newer condominiums and across the street from upcoming new 22 condominiums project
• - Excellent demographics with ±$120,347 average household income in a 1-mile radius

Description:

Four Single Family Houses portfolio (2 are vacant) on large combined R4 zone lot, Buildable Up to 23 Market Rate units (For Sale or For Rent), First Time for Sale since 1961 & 1980s. Great location near Old Town Pasadena and adjacent to several new condominiums.

Growth Investment Group California is proud to offer a four single family houses portfolio in a highly desirable location in the City of Pasadena, CA. The portfolio consists of 4 SFRs located at: 445 N Wilson Ave (vacant), 459 N Wilson Ave (tenant occupied), 1072 E Villa St (corner – tenant occupied), and 1062 E Villa St (vacant). These 4 SFRs have been very well maintained by current family who have owned it since 1961, 1981, 1983, and 1988. The properties are in a highly gentrified area right across from a 22-unit condominiums project and only a lot away from 2 newer condominiums projects. It is located only 3 blocks east of Lake Ave, and minutes away from most of City of Pasadena amenities such as Old Town Pasadena, Lake Ave Shopping District, Rose Bowl area, CALTECH and PCC. It is surrounded by other small apartments and single-family houses and has excellent demographics of ±$120,347 average household income in a 1-mile radius.

The total lot size of this portfolio is 20,473 SF lot – each of the SFR has R4 High Density zone lot which allows a total of 23 buildable units by law before any bonus density (buyer to verify!). This portfolio can be purchased together with the fourplex that is adjacent to it 1056 E Villa St for a larger development play (buildable up to 32 units).

445 N Wilson: This well-maintained cute bungalow style house was built in 1901 and sit on a 5569 SF R4 zone lot. It is a 2-bedroom and 1-bathroom - 898SF house complete with small front yard and a large backyard. It has a 1 car garage parking and a long driveway – which would be perfect for ADU addition if the final buyer decides to keep the current structure as investments. This house is vacant and will be delivered vacant.

459 N Wilson: This cute bungalow style house was built in 1922 and sit on a 5205SF R4 zone lot. It is a 2-bedroom and 1-bathroom - 783SF house complete with small front yard and a large backyard. It has a 1 car garage parking and a long driveway – which would be perfect for ADU addition if the final buyer decides to keep the current structure as investments. This house is occupied by tenant, and owner will deliver it with current tenant in place.

1072 E Villa: This Spanish Colonial style house was built in 1922and sit on a 4993SF R4 zone CORNER lot. It is a 2-bedroom and 1-bathroom - 948SF house complete with circular front and side yard. It has a 1 car garage and a driveway. This house is occupied by tenant, and owner will deliver it with current tenant in place.

1062 E Villa: This cute bungalow style house was built in 1922 and sit on a 4706SF R4 zone lot. It is a 2-bedroom and 1-bathroom - 910SF house complete with a front yard and large backyard. It has a 1 car garage and a driveway. This house is vacant and will be delivered vacant.

Each house has its own garage parking which could be converted into ADUs if the final buyer decides to keep the current SFRs as investments and rental units. Each house has individual washer/dryer hookup, has original hard wood flooring, and other amenities. Each house has excellent curb appeal and very well maintained. Seller may consider selling each individual houses by itself at a higher price.

The portfolio is located just three blocks away from Lake Ave and within walking distance to myriads of shopping and other amenities on Lake Ave and Colorado Blvd. It is within minutes from Old Town Pasadena, Rose Bowl, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has excellent demographics of $120,347 average household income within a 1-mile radius. The property has superb access to FWY 210 and 110 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connect to Downtown Los Angeles.

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