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Wow, hard to find 16 unit townhome development project priced under $200K/unit, ready to build in great Pasadena location. Beautifully designed with (12)3 bedroom/3 baths & (4)2 bedroom/ 3 baths averaging 1740 Sq.ft. each.
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Located blocks from El Paseo, walking distance from old town pasadena, major business districts and gold line. Property consists of two parcells almost a half acre in size (21,750 Sq.ft.) with 11 units and $111K+ annual income. All units are designed townhouse style, with direct access, 2 car subterranain garages. Tenative tract map in place, will be able to pull final building permit prior to the close of escrow. This deal is priced well, under $200K per unit for a ready to build project in Pasadena with NO Inclusionary housing requirment. Seller will pay nearly $400,000K to have the low housing requirement removed. Consider the value, to build the same project today would cost a builder almost $1 million in fees alone. Compare similar projects, this won't last
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