1450 Fair Oaks Ave Pasadena, CA 91103-1801

This exceptional 28,512 square foot multifamily property, located at 1450 N Fair Oaks Ave in Pasadena, California (91103), presents a compelling value-add or repositioning opportunity. The property, built in 1965 and situated on a 35,000 square foot lot, is currently offered at $5,800,000 ($203.42/SF). The building boasts a diverse range of features including a lobby, multiple offices, activity/dining room, dorm-style showers, commercial kitchen, commercial laundry room, Jack & Jill restrooms, an elevator, employee lounge area, conference room, and two patios. Parking is provided for 30 vehicles. The property's permitted zoning (FGSP-RM-16) allows for a variety of uses including transitional housing, supportive housing, single/multi-family housing, home occupations, and limited adult and child day care. Its strategic location, one block north of Washington Blvd and within a half-mile of the 210 freeway and 1 ¼ miles of the 134 freeway, offers excellent accessibility. Note that this is a bankruptcy sale and was formerly a 24/7 extended care facility. This presents a unique chance to acquire a substantial property in a desirable location with significant potential for redevelopment or repositioning. The Los Angeles County Assessor's Parcel Number (APN) is 5728-011-022.