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107 - 109 N Michigan Avenue, Pasadena, CA
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107 - 109 N Michigan Avenue
Pasadena, CA 91106 - Pasadena/Arcadia/Monrovia Submarket
For Sale Price:
Growth Investment Group is proud to present the Michigan Ave development opportunity; a high density zoned RM-48 lot in the highly-desirable city of Pasadena, California. This offering presents a rare opportunity for investors to acquire a well-located, multifamily/residential development site in one of the strongest sub-markets in the West San Gabriel Valley.
The property is located at the south west corner of Michigan Ave and Union St. It is situated on a large 10,444 SQFT lot size with RM-48 zoning. The zoning for the property allows density up to 48-units per acre. Based on the lot size, this lot allows density up to 11-unit condominiums or apartments*.
There is a 4-unit apartment structure on the lot. The building was built in 1984 and consists of three 3bedroom+1-1/2bathroom units and one 2bedroom+1-1/2 bathroom unit. Total building size is 4,491sqft. The property is separately metered for electricity and gas. Each unit has a private patio area, windows, and A/C. Parking is provided by a carport on the side of the lot.
*Buyer is to verify with the City of Pasadena planning department to verify the maximum density for this property.
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Growth Investment Group, Inc.
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