Property Detail

252 N Michigan

Pasadena CA 91106

$5,500,000

Status: Active

Property Details

Description

We are proud to offer the Hacienda Garden Condominiums (the “Property”), a Residential Opportunity to build 34 Modern Condo Units, in the city of Pasadena. This site is fully permitted with all building permit fees of over $600,000 paid by the Seller. This is an exceptional development opportunity that sits on two parcels with cross streets at Walnut Street and Corson Street. This fully entitled, shovel-ready project is offered at $5.5M, including all plans and permits for the construction of two three-story residential buildings with 34 modern condo units. With over $600,000 in building permit fees already paid, all the heavy lifting and planning are complete, and the project is construction-ready for immediate commencement. The approved plans account for a total of ±31,567 net rentable square feet of residential dwelling space, ±3,429 SF of residential common area and circulation, for a net residential size of ±34,996 SF space, with a total gross square footage of approximately ±67,567 residential net square feet, including a ±32,571 square foot subterranean parking area. The proposed development plans, designed by the award-winning architect LCRA, include a diverse unit mix to cater to a sophisticated market. The project consists of 19 flats, 11 two-story units, and four townhomes. Common area amenities include lush modern garden-style landscaping, a secured subterranean parking lot, an elevator, and EV parking. The units are designed with balconies or patios, modern amenities, high-quality fixtures, and fully equipped kitchens with state-of-the-art appliances. The city of Pasadena represents a premier market for high-end development. The property's central location is a significant advantage, placing it minutes from Downtown Los Angeles, the San Fernando Valley, and the Inland Empire. The project's prime location, coupled with its proximity to significant employers and cultural landmarks, offers a highly desirable lifestyle for future residents. Hacienda Garden Condominiums present a prime development opportunity that will yield a profitable investment. Located in an exceptional area in prime Pasadena, this property offers a stable and premium asset for a seasoned private investor or developer to add to their portfolio, with strong potential for student housing due to its proximity to local colleges.

Map Location

Listing provided courtesy of Eric Chen of CB RICHARD ELLIS. Last updated 2025-12-16 09:21:03.000000. Listing information © 2025 CRMLS.

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Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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