3864 E Colorado Boulevard
Pasadena, CA, 91107 $ 1,800,000
Baths0.0 Sq 5,275 Monthly Estimate*
$ 12,574
Listed by Marcus & Millichap
Studio
for $1,800,000. This 5,275 square foot building was built in 1952 on a lot size of 0.1949.
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.
See more
FeaturesGeneralZoning LCC2*
HOA 0.0
Year Built 1952
County Los Angeles
Net Operating Income 90248.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Head north on South Michillinda Avenue and turn left on East Colorado Blvd. The subject property is located in between South Michillinda Avenue and Merlon Avenue.
City Pasadena
View Y/N N
Senior Community Y/N N
Open Parking Spaces 6.0
MLS Area 648 - Pasadena (SE)
Lot Size Square Feet 8488.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Colorado
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 0
Standard Status Active
Cap Rate 5.01
See more
ExteriorTotal Parking 6.0
Lot Size Area 8488.0
Number of Buildings 1
Spa N
Building Area Total 5275.0
Lot Size Acres 0.1949
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
See more
InteriorTotal Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Boulevard
Electric On Property Y/N N
Total Baths 0
See more
* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $12,574
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% 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 $1,951,489
Percent of Sale Price 8%
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.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/22/2024 | $1,800,000 | | Listed Price |