999 Cordova ST, Pasadena, CA 91106 – P1-22624

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

Jun

Sun

Jun

Mon

Jun

Gatehouse Properties

GateHouse Properties

info@gatehouseproperties.com +1(714) 743-9882

$ 2,400,000

Est. payment | -/mo

0.28 Acres Lot

Save

$ 2,400,000

Est. payment | -/mo

Save

0.28 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID P1-22624

HOA Y/N No

Year Built 1953

Lot Size 0.279 Acres

Property Sub-Type Apartment

Property Description

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 or disturb the tenants.

Location

State CA

County Los Angeles

Area 648 - Pasadena (Se)

Zoning CD-MU-N

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Wood

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Carport

Carport Spaces 7

Fence None

Pool None

Community Features Sidewalks

View Y/N No

View None

Total Parking Spaces 7

Private Pool No

Building

Lot Description Front Yard, Landscaped, Sprinklers None, Value In Land, Yard

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Mid-Century Modern

Level or Stories Two

Others

Senior Community No

Tax ID 5735027033

Energy Description 172.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Tzu-ning Chang • Keller Williams Realty

+1(714) 743-9882

info@gatehouseproperties.com

Costa Mesa, CA, 92626, United States

GET MORE INFORMATION

QUICK SEARCH

There are 30 quick searches

999 Cordova ST Pasadena, CA 91106