Request More Info
Schedule a Showing
Share
Print
|
Exceptional multifamily investment with ADU/redevelopment opportunity at 999 Cordova Street (aka 153 S. Catalina Avenue) in the City of Pasadena, California. With its rare large lot size of +/-12,171 SF in one of Pasadena's most sought-after neighborhoods at the intersection of Cordova Street and Catalina Avenue, the property presents an extraordinary opportunity to either redevelop ADU units, or redevelopment the entire property to up to 27 multifamily units with its CD-MU-N Zoning and leveraging the State of California's AB 2345 density bonus (Buyer verify). With its phenomenal location, the property is just minutes' walk from the South Lake Avenue commercial district, Old Town Pasadena, the Paseo shopping center, Caltech, Pasadena City College, and the Metro Gold Line. Tenants enjoy walkable access to a vibrant mix of retail, dining, and entertainment options, as well as close proximity to major employers.Therefore, the large +/-12,171 SF lot size may allow 18 units by right (Buyer verify). The investor/developer can benefit from the property's strong current income with rental upside from its existing 8 units.This meticulously maintained and professionally managed property features eight (8) existing 1 Bed / 1 Bath units with ample carport and street parking and attractive mid-century architectural charm. Some units have wood flooring and some have carpet. New electrical subpanels were installed in all eight units in 2025, and new exterior painting in 2023. The onsite laundry room generates additional income.Contact listing agents for Offering Memorandum. Buyer to verify all information herein. Broker/Agent and Seller does not guarantee its accuracy. Drive-by only, please do not walk on the property of disturb the tenants.
Property Type(s):
Residential Income
| Last Updated | 6/6/2025 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1953 | Community | 648 - Pasadena (SE) |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 648 - Pasadena (SE) |
| HEAT | Wall Furnace |
| LOT | 0.2794 acre(s) |
| LOT DESCRIPTION | Front Yard, Landscaped |
| PARKING | Carport |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | MidCenturyModern |
| SUBDIVISION | Not Applicable |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with Keller Williams Realty
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2025.
Twitter
Facebook
Email