Description

***Vacant*** Exceptional opportunity to own a duplex in the heart of Pasadena, ideal for investors, developers, or owner-users seeking value-add potential. Hitting a target cap rate of 9-12% is doable depending on your strategy with the upside in rents and additional unit(s). Located north of the 210 freeway, this gem sits on a generous lot, offering tremendous upside and flexibility for future expansion. Both units are vacant, making this a perfect blank slate to renovate, rent, or reimagine. With ample lot space, there may be potential to add an ADU, a third unit, or explore other development opportunities (buyers to independently verify with the City of Pasadena regarding zoning, density, and building regulations). Located on a picturesque tree-lined street near Pasadena City College, Caltech, and vibrant shops and dining on Lake Avenue, this property is a rare find in a great location with plenty of upside. Don't miss this chance to transform a fixer into a profitable long-term investment or develop sell at a premium disposition price.