We are pleased to present a rare development and investment opportunity just 1/3 of a mile to the San Marino city limit. The new owner will have the opportunity to develop a brand new, modern 26-unit apartment building project in the Unincorporated area of Pasadena. This development boasts a contemporary design, featuring 31 on-grade parking spaces (NO SUBTERRANEAN) with a highly desirable unit mix, ensuring strong, long term rental demand. The future apartments benefit from the absence of Pasadena City rent control laws, providing a significant advantage for investors by maximizing potential returns. This opportunity is made even more attractive as the project will be delivered with fully approved plans and will be permit-ready (RTI), allowing for a expedited construction process. Additionally, the property's versatility is enhanced by the potential to create two 1+1 ADUs by converting storage rooms into additional units, bringing the total to 28 apartments. This flexibility offers an excellent chance to increase rental income and overall property value. Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. The shortage of new construction apartment properties in Pasadena will help this rare building maintain stable and high valuation. Property is currently fully vacant, so no tenant relocations required.
Property Details
Property Features
Listing Office:
Office Name: Realty Investment Advisors, Inc.
Listing Agent: Benjamin J. Hsiang
Exterior Features
Exterior Information:
View: None
Lot Features
Lot Information:
Lot Size: 0.34 Acres
Other
Directions Information:
Directions: East on Del Mar Blvd, South on Sierra Madre Blvd
Price Information
Listing Price Info
Price Summary:
List Price: $3,850,000
Tax Information:
Annual Amount: $3,210
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Pasadena, CA.
This property is $2.6M more than the Median Sold Price in Pasadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24415513
Listing Office:
Office Name: Realty Investment Advisors, Inc.
Listing Agent: Benjamin J. Hsiang
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/18/2024, 5:15:57 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Sep 27, 2021
Sep 27, 2021Home Sold
$2,000,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$3,210
$101,821
2020
$3,147
$100,778
2019
$4,314
$98,803
2018
$4,415
$96,867
2017
$4,415
$94,969
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Hamilton Elementary School
2089 Rose Villa St
Distance between this listing and this school0.29 miles
Public District Grades PK-5
6
/10
Willard Elementary School
301 Madre St
Distance between this listing and this school1.15 miles
Public District Grades PK-5
6
/10
Norma Coombs Elementary School
2600 Paloma St
Distance between this listing and this school1.25 miles
Public District Grades KG-5
Nearby Schools
9
/10
Henry E. Huntington Middle School
1700 Hntngtn Dr
Distance between this listing and this school1.75 miles
Public District Grades 6-8
3
/10
McKinley School
325 S Oak Knoll Ave
Distance between this listing and this school1.91 miles
Public District Grades KG-8
8
/10
Oak Avenue Intermediate
6623 Oak Ave
Distance between this listing and this school2.46 miles
Public District Grades 7-8
Nearby Schools
2
/10
Learning Works
90 N Daisy Ave
Distance between this listing and this school0.70 miles
Public Charter Grades 7-12
10
/10
San Marino High School
2701 Hntngtn Dr
Distance between this listing and this school1.13 miles
Public District Grades 9-12
7
/10
Pasadena High School
2925 E Sierra Madre Blvd
Distance between this listing and this school1.54 miles
The neighbors living near this home have an average income of $84,531. Most Pasadena, CA residents have annual incomes between $35k-100k. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 273 S Sierra Madre Blvd
What is the listing price of this property?
The listing price of 273 S Sierra Madre Blvd property is $3,850,000.
What type of property is this?
The property 273 S Sierra Madre Blvd is land located in Pasadena, California, 91107.
Is this property for sale now?
Active Listing: 273 S Sierra Madre Blvd is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $3,210 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 27, 2021 for $2,000,000. (source: MLS/tax record).
How much acreage is this property?
The property 273 S Sierra Madre Blvd is 0.34 acres.
Interested in 273 S Sierra Madre Blvd? Let's connect.
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This home is located at 273 S Sierra Madre Blvd in Pasadena, CA and zip code 91107 in the San Pasqual neighborhood. This home sits on a 0.34 acre lot. It has been listed on Rocket Homes since July 30, 2024 and is currently priced at $3,850,000.
Over 43 listings were sold over their listed price in November 2024 in Pasadena, CA. In the same period over 21 listings were sold below the listed price and 13 listings were sold for the listed price. Between October 2024 and November 2024, Pasadena, CA real estate market has seen decrease in the number of listings by 9.9%. In November 2024 median list price was $1,212,217 and the average listing age was 32 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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