130 N Mar Vista Avenue

Pasadena CA, 91106


$200.18 per sqft



Listed by Alexander Metaxas with Realty Investment Advisors, Inc. 424-377-6001

We are pleased to present a unique opportunity to acquire an entitled development site for a 23-unit apartment complex located at 130-140 N. Mar Vista Avenue in Pasadena. Expertly designed by the well-known Tighe Architecture firm, the proposed building features 13 two-bedroom + two-bath units, 9 one-bedroom + one-bath units, and 1 studio + one-bath unit situated above one level of subterranean parking. One of the biggest hurdles in Pasadena is obtaining design and concept approval for a residential development. This project has successfully cleared and secured that final approval. It is now ready for the next phase, construction design drawings and City plan check, en route to obtaining Ready to Issue (RTI) permits status and then start construction. This stage allows a new owner the flexibility to use any or all their own consultants and preferred companies for the CD process. The design of the building encompasses Pasadena's architectural heritage and enriches it with a modern touch. The project features ground level resident garden areas as well as a private rooftop garden and deck space. The site consists of two lots totaling +/- 15,426 square feet and with a corner location the project is designed for efficient use of space and maximum curb appeal. A huge advantage to a newly constructed property is the exemption from local Pasadena rent control laws, providing an owner with greater operational flexibility. Strategically situated south of the 210 freeway, the location offers easy access to the Metro Gold Line and South Lake Avenue, enhancing its attractiveness to prospective residents in what is already a consistently high demand rental city. Currently there is a house and a triplex on the lots that are being rented out month to month and generate a total monthly income of almost $7,300. In summary, this is a compelling investment opportunity that combines a prime location, thoughtful design, and operational advantages in a robust rental market.



October 31, 2023


November 8, 2023



130 N Mar Vista Avenue
Pasadena CA, 91106

Exterior/Building Features

Lot Size

0.35 acres

Other Property Details

Days on Market








View Description

City Lights, Mountain(s)


Los Angeles



Listing Contact: 424-377-6001 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/8/2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 11/8/2023 at 12:29 PM UTC


Powered byLuxury Presence