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266 N Wilson Avenue, Pasadena, California 91106, Pasadena, 91106 - 3 bed, 2 bath

266 N Wilson Avenue, Pasadena, California 91106 home-pic-0
ACTIVE$1,499,000
266 N Wilson Avenue, Pasadena, California 91106
3Beds
2Baths
1,536Sqft
8,119Lot
Year Built
1927
Close
-
List price
$1.5M
Original List price
$1.77M
Price/Sqft
$976
HOA
-
Days on market
-
Sold On
-
MLS number
AR25059375
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.50M(32th), sqft - 1536(29th), beds - 3(50th), baths - 2(50th).

A 5-unit Townhouse development in Pasadena is an excellent opportunity, especially given its prime location near Pasadena City College . This land already has entitlement approval permit .The lot has approval for a 5-unit Townhouse development, which significantly reduces the time and uncertainty associated with zoning and permitting processes.Multi-unit developments are highly lucrative in Pasadena due to the high demand for housing.Great location near PCC makes the property attractive to students, faculty, and staff looking for convenient housing options.The neighborhood likely offers easy access to public transportation, shopping, dining, and entertainment. Pasadena's housing market is competitive, with high demand for both rental and owner-occupied properties. Don’t miss it .

Condition Rating
Tear down
The property was built in 1927 and the listing describes it as a 5-unit townhouse development opportunity with approved permits. The images provided are renderings of the proposed development, not the existing structure. Given the age of the existing structure (built over 50 years ago) and the intention for a new development, the current condition is likely unlivable and suitable for demolition.
Pros & Cons

Pros

Entitlement Approval: The property already has entitlement approval for a 5-unit townhouse development, saving significant time and reducing uncertainty in the development process.
Prime Location: Located near Pasadena City College (PCC), making it highly attractive to students, faculty, and staff.
Lucrative Multi-Unit Development: Multi-unit developments are highly lucrative in Pasadena due to the high demand for housing.
Access to Amenities: The neighborhood likely offers easy access to public transportation, shopping, dining, and entertainment.
Competitive Housing Market: Pasadena's housing market is competitive, with high demand for both rental and owner-occupied properties.

Cons

Price Reduction: The property has experienced a price reduction from its original list price, which may indicate challenges in attracting buyers at the initial price point.
Property Condition: The description does not explicitly mention the condition of the existing structure, which could be a concern for potential developers if significant renovations or demolition are required.
Limited Details on Existing Structure: The description focuses on the development potential but lacks details about the current 5-unit structure, such as its condition, rental history, or potential income.

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