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53 Unit Entitled Condominum Development 185 Monterey Rd Lot | Résidentiel | 0,51 ha | À vendre | 7 009 760 € | South Pasadena, CA 91030
Certaines informations ont été traduites automatiquement.
Informations principales sur l'investissement
- 53-unit condominium project with approved tract map, significantly reducing entitlement risk and saving years of development timeline.
- Approximately 1.26 acres (54,794 SF) approved for a 7-story, 53-unit condominium project in an extremely land-constrained market.
- Current underwriting models a $70.47 million gross sellout, supported by new condominium sales in nearby Pasadena ranging from $1,042 - $1,101 per sf.
- Located in one of Southern California's most desirable residential communities, renowned for its award-winning schools, and walkable downtown.
- Project is delivered without building permits, allowing the buyer to finalize construction documents, and optimize building design.
- South Pasadena has experienced virtually no significant new condominium development due to restrictive zoning and limited available land.
Résumé analytique
The LAAA Team of Marcus & Millichap is pleased to present 185 Monterey Road, a rare fully entitled 53-unit condominium development opportunity located in the highly sought-after city of South Pasadena. The ±1.26-acre site has received Tract Map Approval, eliminating years of entitlement risk while allowing a developer to retain flexibility by completing building permits, value engineering, and contractor selection after closing.
The approved project consists of 53 condominium residences (46 market-rate and 7 moderate-income units) within a seven-story, approximately 88,111-square-foot building featuring structured podium parking, premium resident amenities, and contemporary architectural design. Offered at $8,000,000 ($150,943 per approved unit), the project represents one of the few large-scale for-sale residential development opportunities available in one of Los Angeles County's most supply-constrained ownership housing markets.
South Pasadena's exceptional public schools, affluent demographics, walkable downtown, and Metro A Line connectivity continue to drive strong demand for ownership housing while restrictive zoning has significantly limited new condominium development. The offering provides developers the opportunity to capitalize on a scarcity-driven market supported by recent Pasadena new-construction condominium sales exceeding $1,000 per square foot.
The approved project consists of 53 condominium residences (46 market-rate and 7 moderate-income units) within a seven-story, approximately 88,111-square-foot building featuring structured podium parking, premium resident amenities, and contemporary architectural design. Offered at $8,000,000 ($150,943 per approved unit), the project represents one of the few large-scale for-sale residential development opportunities available in one of Los Angeles County's most supply-constrained ownership housing markets.
South Pasadena's exceptional public schools, affluent demographics, walkable downtown, and Metro A Line connectivity continue to drive strong demand for ownership housing while restrictive zoning has significantly limited new condominium development. The offering provides developers the opportunity to capitalize on a scarcity-driven market supported by recent Pasadena new-construction condominium sales exceeding $1,000 per square foot.
Informations sur l’immeuble
| Prix | 7 009 760 € | Sous-type de bien | Résidentiel |
| Type de vente | Investissement | Usage proposé | |
| Nb de lots | 1 | Surface totale du lot | 0,51 ha |
| Type de bien | Terrain |
| Prix | 7 009 760 € |
| Type de vente | Investissement |
| Nb de lots | 1 |
| Type de bien | Terrain |
| Sous-type de bien | Résidentiel |
| Usage proposé | |
| Surface totale du lot | 0,51 ha |
1 Lot disponible
Lot
| Prix | 7 009 760 € | Surface du lot | 0,51 ha |
| Prix par ha | 13 747 217,43 € |
| Prix | 7 009 760 € |
| Prix par ha | 13 747 217,43 € |
| Surface du lot | 0,51 ha |
1 1
Assez praticable à pied
50/100
Exceptionnellement adapté aux voitures
100/100
Transports en commun limités
30/100
Moyennement praticable en vélo
70/100
Taxes foncières
| Numéro de parcelle | 5311-010-076 | Évaluation des aménagements | 122 347 € |
| Évaluation du terrain | 2 343 613 € | Évaluation totale | 2 465 961 € |
Taxes foncières
Numéro de parcelle
5311-010-076
Évaluation du terrain
2 343 613 €
Évaluation des aménagements
122 347 €
Évaluation totale
2 465 961 €
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53 Unit Entitled Condominum Development | 185 Monterey Rd
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