3864 East Colorado Boulevard
Pasadena, CA, 91107 $ 1,800,000
Baths0.0 Monthly Estimate*
$ 11,963
Studio
for $1,800,000. This building was built in 1952.
We proudly present the acquisition opportunity of 3864 E. Colorado Blvd, a retail property nestled in the vibrant heart of East Pasadena. Spanning 5,275 square feet, this 1952-built asset sits on an 8,845 square foot lot, uniquely zoned for Mixed Use Development (MXD). The property hosts three retail spaces, offering a blend of architectural charm and functional versatility.Currently, two of the three units are occupied under one-year leases set to conclude this year, with the remaining space filled by a tenant on a month-to-month agreement. This setup presents a rare opportunity for investors to potentially enhance income by an estimated 30% through strategic interior and exterior renovations post-lease expirations. Additionally, the site offers an enticing prospect for owner-users, who can leverage SBA financing options for reduced down payments, making acquisition more accessible and appealing. Strategically positioned within a Transit Oriented District, 3864 E. Colorado Blvd benefits from a "Mixed Use" (MU) designation on the East Pasadena-East San Gabriel Land Use Policy Map, supporting a maximum density of 150 units per acre, a floor area ratio of up to 3, and allowing for structures up to 65 feet in height. The MXD zoning further broadens the potential uses, making it an ideal investment for those looking towards future development possibilities. The property's prime location, just south of the 210 Freeway and flanked by Rosemead Blvd and Michillinda Ave, places it on one of San Gabriel Valley's principal arteries. It is enveloped by a rich tapestry of local enterprises, dining options, retail outlets, and residential areas, ensuring a constant flow of foot traffic and visibility. Proximity to key transit routes and notable landmarks such as Hastings Ranch Plaza, Hastings Village Shopping Center, the LA County Arboretum, Santa Anita Park, and Westfield Santa Anita mall, coupled with easy access to the 210 Freeway, enhances its appeal to both potential investors and tenants seeking convenience and connectivity. This property not only offers immediate rental income potential but also serves as a canvas for visionary development, promising a blend of immediate returns and long-term strategic value. Seize the opportunity to invest in a location where tradition meets potential, at 3864 E. Colorado Blvd, East Pasadena.
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FeaturesGeneralZoning LCC2*
Year Built 1952
County Los Angeles
Net Operating Income 90248.0
Property Type F
Status Pending
City Pasadena
MLS Area 648 - Pasadena SE
Lot Size Square Feet 0.0
Street Name Colorado
Standard Status Pending
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ExteriorLot Size Area 8488.0
Lot Size Acres 0.0
Land Lease Type Fee
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InteriorTotal Stories 1
Street Suffix Boulevard
Total Baths 0
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* Excluded FeaturesList BySevak KeshishianListing Agent
Affordability Calculator
- Monthly Principal & Interest
- $11,963
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Pasadena, CA
Average List Price $2,134,983
Percent of Sale Price 19%
About Pasadena, CA 141,450 Population
6% Since 2002
$ 77,514 Median Income
39.52 Median Age
22% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/21/2024 | $1,800,000 | | Listed Price |