Directly across from Pasadena Community College, Two retail downstairs includes Milkcow softserve ice cream and Bobaful Tea Shop. Second floor offices located upstairs. Property addresses includes 1513 , 1515, and 1517 E Colorado Blvd Pasadena, CA Building Tenants Fully Occupied by with with Tenants Half a million dollars went into remodeling the building Rear of building features a Gated Parking Lot with 12 Parking Spaces
This offering presents a rare opportunity to acquire two contiguous parcels totaling approximately 0.32 acres in the Pasadena/Altadena area, with a documented path toward high-density multifamily development. A recent third-party feasibility study prepared by Elevated Entitlements concludes that, if the parcels are merged and rezoned entirely to C-2 (Neighborhood Commercial) and developed utilizing the California State Density Bonus (AB 1287), the site could support up to 32 residential units, including required affordable housing components. The County of Los Angeles has indicated openness to efforts that advance multifamily housing at the site, subject to standard planning review and pre-application consultation. The property is not designated as a historic resource and is served by public utilities. For developers seeking scale in a supply-constrained rental market with strong household incomes, this asset offers a compelling blend of land basis, density potential, and entitlement upside. Existing Improvements can provide interim holding income: 1,008 SF Commercial Building • 2,138 SF Commercial Building • 912 SF Single-Family Home (3-Bed, 2-Bath)
Pasadena is located in California. Pasadena, California has a population of 138,771. Pasadena is less family-centric than the surrounding county with 29.61% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Pasadena, California is $89,661. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Pasadena is 39.1 years.
The average high temperature in July is 87.5 degrees, with an average low temperature in January of 45.1 degrees. The average rainfall is approximately 21.4 inches per year, with 0 inches of snow per year.
