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New York Drive - PRIME HIGH IDENTITY - RESIDENTIAL LAND 4.67 Acres of Residential Land Offered at $3,890,000 in Pasadena, CA 91107
INVESTMENT HIGHLIGHTS
- RESIDENTIAL DEVELOPMENT LAND FOR 26 DETACHED CONDOS
- PRIME HIGH IDENTITY LOCATION
EXECUTIVE SUMMARY
RESIDENTIAL DEVELOPMENT LAND
PRIME HIGH IDENTITY LOCATION
A conceptual site plan with 26 condominium units was submitted to the County for a one-stop review. Regional Planning, Fire, Parks and Recreation, Public Health and Public Works provided their comments, almost all of which were positive and straightforward to address.
Listing Price: $3,890,000
Lot Size: Approximately 4.67 acres
Buildable Area: Approximately 2 acres (due to slope)
APN: 5860-026-014
An excellent development opportunity! This 4.67-acre land lot allows for the development of 26 detached condominiums. The gently sloping terrain provides about 2 acres of buildable space, ideal for a residential community that can take advantage of the site's natural topography.
Key Features:
- Prime development potential with existing preliminary plans
- Suitable for detached condominium community projects
- Close proximity to key amenities
- No physical address currently assigned; identifed by APN #5860-026-014
Affordable housing requirement of 15% of total units, calculates to 4 units. Average affordability of 135% of AMI. No option to pay in-lieu fees. The project is eligible for affordable density bonus.
This property has a Pasadena address but a part of Los Angeles County. Utilities in the public right of way are under jurisdiction of the City of Pasadena and will require additional coordination. All utility design and approval will be required through the subdivision application and tentative/final map approval process.
*The Buyer is solely responsible for verifying all zoning and other requirements.
**The Seller makes no representations or warranties regarding the zoning status of the Property
PROPERTY FACTS
| Price | $3,890,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units - Condo |
| No. Lots | 1 | Total Lot Size | 4.67 AC |
| Property Type | Land | ||
| Zoning | LCR120000* | ||
| Price | $3,890,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Condo |
| Total Lot Size | 4.67 AC |
| Zoning | LCR120000* |
1 LOT AVAILABLE
Lot
| Price | $3,890,000 | Lot Size | 4.67 AC |
| Price Per AC | $832,976.45 |
| Price | $3,890,000 |
| Price Per AC | $832,976.45 |
| Lot Size | 4.67 AC |
APN #5860-026-014_New York Drive, Pasadena, CA 91107 RESIDENTIAL DEVELOPMENT LAND PRIME HIGH IDENTITY LOCATION
DESCRIPTION
APN #5860-026-014_New York Drive, Pasadena, CA 91107 RESIDENTIAL DEVELOPMENT LAND PRIME HIGH IDENTITY LOCATION A conceptual site plan with 26 condominium units was submitted to the County for a one-stop review. Regional Planning, Fire, Parks and Recreation, Public Health and Public Works provided their comments, almost all of which were positive and straightforward to address. Listing Price: $3,890,000 Lot Size: Approximately 4.67 acres Buildable Area: Approximately 2 acres (due to slope) APN: 5860-026-014 An excellent development opportunity! This 4.67-acre land lot allows for the development of 26 detached condominiums. The gently sloping terrain provides about 2 acres of buildable space, ideal for a residential community that can take advantage of the site's natural topography. Key Features: - Prime development potential with existing preliminary plans - Suitable for detached condominium community projects - Close proximity to key amenities - No physical address currently assigned; identified by APN #5860-026-014 Affordable housing requirement of 15% of total units, calculates to 4 units. Average affordability of 135% of AMI. No option to pay in-lieu fees. The project is eligible for affordable density bonus. This property has a Pasadena address but a part of Los Angeles County. Utilities in the public right of way are under jurisdiction of the City of Pasadena and will require additional coordination. All utility design and approval will be required through the subdivision application and tentative/final map approval process. *The Buyer is solely responsible for verifying all zoning and other requirements. **The Seller makes no representations or warranties regarding the zoning status of the Property
PROPERTY TAXES
| Parcel Number | 5860-026-014 | Improvements Assessment | $0 |
| Land Assessment | $85,450 | Total Assessment | $85,450 |
PROPERTY TAXES
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New York Drive - PRIME HIGH IDENTITY - RESIDENTIAL LAND
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