3864 Colorado Boulevard

Pasadena, CA 91107

$1,800,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $341 / sqft

1952

calendar_month Built

Property Description

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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 3864 Colorado Boulevard
City Pasadena
State CA
Zip 91107
County Los Angeles
Listing Agent Sevak Keshishian DRE#01887505
Courtesy Of Marcus & Millichap
MLS 24360655
List Price $1,800,000
Status Pending
Type Commercial
Structure Size N/A
Lot Size N/A
Year Built 1952
DOM 68

Exterior Information

Maps

Listing information courtesy of: Sevak Keshishian, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 29th, 2024 at 3:19 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.