Property Detail

Description

Mixed-Use 91 Efficiency units with one 1500 sf retail/restaurant space. The building has a conventional loan in place from Chase and there are no tax credits or bond financing attached to the building.***PLEASE CALL ME FOR A SETUP SHEET***Buyer can assume the existing loan at 3.67% for about 5 more years. Nestled in the heart of picturesque Pasadena, California, this 90-unit affordable housing community exemplifies the values of accessibility, comfort, and thoughtful urban living. Each of the 90 units is designed at 250 rentable square feet to provide a compact yet dignified living space, with 81 units reserved for moderate-income residents and 9 for low-income individuals. From the moment you step inside, you're welcomed into an environment that prioritizes connection and quality of life.Located at 1299 East Green Streetjust moments from Pasadena City College and Caltechresidents benefit from proximity to premier educational institutions and abundant employment opportunities. The property is more than just a place to live; it's a hub for connection and activity. A refreshing pool and a large outdoor courtyard offer tranquil and social spaces for relaxation, while a ground-floor retail restaurant space adds flavor and vitality to daily life.The 1,500-square-foot retail component is home to **Danbi Coffee**, a beloved specialty caf known for its minimalist design, curated coffee program, and serene atmosphere. With several locations across Southern California, Danbi Coffee brings a refined and welcoming presence to the neighborhood, serving as a community gathering spot and enhancing the property's cultural and commercial appeal.Pasadena itself is a city celebrated for its cultural richness and historic charm. Home to the world-famous Rose Bowl Parade, held every New Year's Day, Pasadena draws thousands to witness the pageantry of elaborate floats and musical performances. Beyond the festivities, Colorado Boulevard serves as a vibrant commercial corridor, lined with boutiques, cafes, and one-of-a-kind shops that reflect the city's eclectic spirit.*Note: One non-conforming unit.*Listing agent has an ownership interest.