Description
Prime Pasadena Infill: High-Density RM-48 Lot Near Caltech & PCC Up to 35 Buildable Units (High Density), or 17-21 units (Mid Density). A rare infill opportunity on N Michigan Avenue: a 7501SF, RM-48 high-density lot located mere steps from Caltech and Pasadena City College. Because this site is a vacant lot, developers benefit immediately from zero demolition costs, allowing for a faster, more cost-effective path to vertical construction in one of Southern California s most supply-constrained markets. The property offers unparalleled flexibility, accommodating a wide range of builder strategies. Depending on city approvals, developers can pursue three distinct development paths: a High-Density affordable project yielding up to 35 units, a Mid-Density Transit-Oriented Development (TOD) yielding 17-21 units, or a Low-Density residential project of 5 units. This makes it an ideal acquisition for boutique builders or seasoned development firms looking to expand their footprint in a high-barrier-to-entry city. Location serves as the ultimate amenity for this site. Situated between LAKE Ave and Hill Ave, and 1 lot away from Union St and Michigan Ave corner, it offers superb access to all the best amenities City of Pasadena has. Situated just minutes from major employment centers, the Lake Avenue Business District, and the Metro L Line, the property sits squarely within a walkable, amenity-rich neighborhood. It benefits from a built-in, highly educated renter pool and aligns perfectly with Pasadena s ongoing push for smart, sustainable, transit-connected growth. With limited undeveloped land remaining in Pasadena, this parcel represents a strategic canvas to deliver much-needed housing while capturing durable, long-term value in an economically resilient, premium demographic.
Listing Agent: Handoko Chen
Listing Office: Growth Investment Group Pasade
Listed By
Co-Listing Agent
Justin McCardle
Growth Investment Group Pasade
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IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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Updated: 24th April, 2026 2:26 PM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 24th April, 2026 2:26 PM (UTC)
