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.
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GROWTH INVESTMENT GROUP, INC.
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This Multi-Family home
for sale in Pasadena, CA
is currently listed for $2,050,000.
Featuring a lot size of 10,444 Sq. Ft.,
109 N Michigan Avenue
was built in 1984 and
has been on ERA.com for 67 days.
This listing is provided courtesy of GROWTH INVESTMENT GROUP, INC..
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Data last updated: Friday, October 21, 2016 at 10:17 AM. Properties in listings may have been sold or may no longer be available.