7,501 Sqft Lot
7,501 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26086347
HOA Y/N No
Lot Size 7,501 Sqft
Property Description
A rare infill opportunity on N Michigan Avenue: a 7501SF, RM-48 high-density lot located mere steps from Caltech and Pasadena City College. Because this site is a vacant lot, developers benefit immediately from zero demolition costs, allowing for a faster, more cost-effective path to vertical construction in one of Southern California's most supply-constrained markets.
The property offers unparalleled flexibility, accommodating a wide range of builder strategies. Depending on city approvals, developers can pursue three distinct development paths: a High-Density affordable project yielding up to 35 units, a Mid-Density Transit-Oriented Development (TOD) yielding 17-21 units, or a Low-Density residential project of 5 units. This makes it an ideal acquisition for boutique builders or seasoned development firms looking to expand their footprint in a high-barrier-to-entry city.
Location serves as the ultimate amenity for this site. Situated between LAKE Ave and Hill Ave, and 1 lot away from Union St and Michigan Ave corner, it offers superb access to all the best amenities City of Pasadena has. Situated just minutes from major employment centers, the Lake Avenue Business District, and the Metro L Line, the property sits squarely within a walkable, amenity-rich neighborhood. It benefits from a built-in, highly educated renter pool and aligns perfectly with Pasadena's ongoing push for smart, sustainable, transit-connected growth.
With limited undeveloped land remaining in Pasadena, this parcel represents a strategic canvas to deliver much-needed housing while capturing durable, long-term value in an economically resilient, premium demographic.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Zoning RM48
Interior
Fireplace No
Exterior
Fence None
Community Features Suburban, Valley
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Available, Water Connected
View Y/N No
View None
Present Use Parking Lot,See Remarks
Building
Lot Description 36-40 Units/Acre, Near Public Transit, Paved, Rectangular Lot, Street Level, Value In Land
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5738014019
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Locations
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