388 Cordova St
Pasadena, CA 91101
JUST REDUCED $500,000 (MOTIVATED SELLER)! · Multifamily Property For Sale · 57 Units

JUST REDUCED $500,000 (MOTIVATED SELLER)! CHANG INVESTMENT GROUP is proud to exclusively present the opportunity to purchase or lease this brand-new build-out, class-A office condominium in the heart of Pasadena at 388 Cordova Street Suite 100C, Pasadena, CA. 388 Cordova is well located at the corner of Los Robles Avenue and Cordova Street, with Hilton Pasadena directly across the intersection. The property is within minutes walking distance to The Paseo shopping mall, Pasadena Civic Auditorium, City Hall, Sheraton, Hyatt Place, Old Town Pasadena, and shops and restaurants on Colorado Boulevard. The property is currently vacant, perfect for an owner user or an investor. The property’s CD-2 zoning (Civic Center/Midtown) is intended to “strengthen its role as the symbolic and governmental center of the City, supporting civic, cultural, and public service institutions, while augmenting the character of the area with a complementary mixture of uses” including professional and medical office, retail, restaurant, research and development, etc. Buyer/Tenant to verify the property’s zoning and land use with the city. 388 Cordova was originally built in 1980, and the property has undergone a complete redevelopment/conversion in 2020-2021 to become high-rise luxury condominiums with office/retail units on the ground floor and residential units above. Suite 100C is located on the street level and very easily accessible. The office condominium has a total unit size of ±8,650 sq. ft. The current owner spent almost $2 million on the build-out, with beautiful modern designs and top-quality materials/finishes and equipment. The property features a large reception / café area with textured wall background, a grand conference room with street-views, training/events room, (5) offices with large LED monitor and street- views, large open cubicles area, kitchen with a huge quartz countertop, (4) restrooms with gorgeous finishes, and 23 covered parking spaces. Association fee covers building insurance, roof & structural, 24-hour front desk/security, fire alarm monitoring, exterior paint, landscaping, and parking structure maintenance. Owner pays for utilities and trash. Buyer/Tenant to verify all information herein, Broker/Agent and Seller does not guarantee its accuracy. Note: Cap rate is based on proforma rental income.