Listed by Han Chen • Growth Investment Group Pasade
$2,700,000
Est. payment /mo
6,536 SqFt
New
1245 E Walnut Street Pasadena, CA 91106
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $413
MLS Listing ID CRAR25096444
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1961
Lot Size 0.388 Acres
Property Sub-Type Office
Property Description
The property is single story commercial office property with superb exposure right on Walnut St, located between Lake Ave and Hill Ave, and south of 210 FWY, it is the first time this property is being offered for sale since 1973! It is on a large ±16,881 SF/0.39ACRE corner lot with high density CG (Commercial General) zoning. A savvy developer would be able to maximize this lot with a high-density mixed-use redevelopment project (ground floor retail, and residential on subsequent floors). It has a total of 6,536SF building size on a ±16,881SF lot. It is separated into 16 individual suites. 8 of the suites are vacant and will be delivered vacant (approximately ±2,860 SF / ±44% - buyer to verify) which makes this building suitable for an owner-user. The remaining 8 tenants are all on month-to-month rent and are significantly below market. This clear rental upside provides clear opportunities for an owner-user or developer to immediately increase the rents and boost the current income. The property has a wide ±150ft exposure on Walnut Street and offers a CG (Commercial General) zoning which should allow much higher density redevelopment options (buyer to verify). The zoning allows a wide range of uses including (but not limited to): Medical use, Medical R&D, Retail, Residentia
Location
State CA
County Los Angeles
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
Water Public
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