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$15,500,000
Est. payment /mo
1.95 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 23250919
HOA Y/N No
Lot Size 1.945 Acres
Property Description
Exceptional investment opportunity in the heart of the City of South Pasadena, CA. Discover a rare gem -- a 1.945-acre fully entitled city block in the bustling core of downtown South Pasadena, boasting a 94/100 walk score, one block from the Metro Gold Line, and surrounded by the city's best dining, cafes, and retail. It is an assemblage that cannot be reproduced. The 1.3-acre (56,634 SF) flat Mission Street development parcel is fully entitled for 108 residential units with condo rights and includes 10,597 SF of new ground-floor retail. Perfectly positioned within South Pasadena's most active downtown corridor, the site offers a rare opportunity to bring new housing and retail into the heart of one of Los Angeles County's most walkable and vibrant communities. It stands as a true flagship site within the city's downtown core. Originally a single 1.945-acre property, the site has been subdivided into two APNs: the 1.3-acre (56,634 SF) Mission Street development parcel and the 28,122 SF El Centro / School Hall parcel. The El Centro parcel includes 11,435 SF of historic buildings, fully rehabilitated and restored to preserve their original character while meeting modern standards. The buildings are fully leased to acclaimed tenants including the highly celebrated Villa's Tacos (Michelin-rated), The Boy & The Bear Coffee + Chocolate Roastery + Cafe, and District Brewery + Restaurant. As visitors enter through the main historic structure, they'll see coffee and chocolate being roasted on one side and bread and beer being crafted on the other, each with its own cafe and restaurant where guests will enjoy what's made on-site. Sid The Cat, the independent music collective behind major national acts, will operate its new music & arts venue here -- extending the property's identity as a creative, culinary, and cultural destination that's increasingly drawing regional and national attention. South Pasadena is served by the South Pasadena Unified School District, consistently ranked among the top in California for academic excellence and college readiness. Acquire the 1.3-acre fully entitled development parcel for $15.5M, the leased historic School Hall buildings with premier tenants for $12M, or the entire 1.945-acre city block including both assets and parcels for $25M. Don't miss this rare opportunity in the heart of South Pasadena's walkable, culturally vibrant downtown. Contact us today -- two sites, two APNs, full entitlements, strong tenancy, and the most sought-after location in the City of South Pas!
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Zoning MSSP
Interior
Fireplace No
Exterior
View Y/N Yes
View City Lights, Courtyard
Building
Lot Description Flat
New Construction No
Others
Senior Community No
Tax ID UNAVAILABLE
Special Listing Condition Standard
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Listed by Matthew Gangi Tricity Realty Inc
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