Mixed-Use 1299 E Green St

Mixed-Use 90 SRO units 81 Moderate Income units and 9 Low Income units with one 1500 sf retail space. Rents way under allowable.
Buyer can assume the existing loan at 3.67% for 6 more years. Seller is willing to entertain a second Trust Deed at the same interest rate. (Seller Approval and Restrictions apply)
Executive Summary
Nestled in the heart of picturesque Pasadena, California, stands an exemplary symbol of community and affordability: a 90-unit single-room occupancy (SRO) affordable housing building. Among its 90 units, there are 81 designated for moderate income residents and 9 for low-income individuals, spanning a generous 220 square feet each, all designed to provide comfort and dignity to its diverse range of residents. From the moment one steps inside, they are greeted by a warm and inviting atmosphere, echoing the spirit of inclusivity and support. Moreover, this building isn't just about providing homes; it's about fostering a vibrant community. With its strategic location at 1299 East Green St, near Pasadena City College and Caltech, residents have easy access to education and employment opportunities. The building boasts additional amenities, including a refreshing pool and a large outdoor courtyard, creating spaces for relaxation and social interaction. Additionally, the building features a spacious 1500 square foot retail restaurant space, which houses Kokoroll Cafe, a beloved eatery with several locations across Southern California. Kokoroll Cafe brings its signature blend of flavors and hospitality to the community, further enhancing the neighborhood's vibrancy. In a city renowned for its beauty and charm, this SRO affordable housing building stands as a beacon of hope and possibility, offering a sanctuary for those in need while enriching the fabric of Pasadena's diverse community.
*One non-conforming unit
Location
Located in Southern California, Pasadena is a city renowned for its rich tapestry of culture and history. Among its many attractions, the Rose Bowl Parade stands as a quintessential celebration, drawing visitors from far and wide to marvel at its elaborate floats and vibrant displays of floral artistry. Each year, on New Year's Day, the streets of Pasadena come alive with the sounds of marching bands and the spectacle of intricately decorated floats, making it a cherished tradition not just for locals but for spectators around the world. Beyond its iconic parade, Pasadena's charm extends to its bustling thoroughfare of Colorado Boulevard. Lined with an eclectic mix of shops, boutiques, and eateries, this vibrant street offers an unparalleled shopping experience. From designer boutiques to quaint cafes, there's something for everyone along this bustling avenue. Whether strolling amidst the fragrant blooms of the Rose Bowl Parade or indulging in retail therapy on Colorado Boulevard, Pasadena beckons visitors with its timeless allure and vibrant energy.
Listing agent has an ownership interest.