OFFERS will be reviewed on Monday, October 14th at noon! 1555 Diamond Avenue has incredible development potential seldom seen in South Pasadena! This RARE single family home and huge gently sloping lot is a blank canvas waiting for a visionary new owner. This is a fixer upper with boundless potential and immediate upside! Some demo has been done and the house needs to be rebuilt. Perfect developer opportunity. Surrounded by homes selling for $2,000,000 to $3,000,000!
Enormous gently sloping 10,441 square foot lot spanning an entire city block from Diamond Avenue all the way to Meridian Avenue! There is room for anything from a huge pool to the maximum sized ADU plus plenty of room left over for impressive grounds and gardens! There is a truly huge separate garage structure at the rear with its own street entrance from Meridian Avenue. Check with the city on ADU conversion.
The location is impeccable – literally just steps to South Pasadena High School. This may be the last large lot with boundless development opportunity on Diamond Avenue by South Pasadena High School. Don’t miss out – because once it’s gone there will never be another property of this scale at this price.
Everything in town is just mere moments away. This home is just 0.7 of a mile to Marengo Elementary School and South Pasadena Middle School and just steps to the High School. Imagine walking your kids to school everyday! Want to use the Metro Rail or go visit the weekly South Pasadena Farmer’s Market? They are just 0.7 of a mile away straight down Meridian Avenue. Check out the list below of places you can walk to – all within a few minutes!
Here are just a few of the amazing places you can visit within 1.5 miles:
South Pasadena High School, public pool, football and baseball fields, public track for exercise, plus public basketball and handball courts – right down the street.
Trader Joe’s on Mission Street – Local neighborhood grocery store. Committed to providing customers outstanding value in the form of the best quality products at the best everyday prices. (Also the NEW Trader Joe’s when it opens is even closer!).
South Pasadena Farmer’s Market – Every Thursday afternoon there is an impressive array of locally grown produce and delicacies available directly from the growers who produce them. Add gourmet food, music, entertainment and a special kid’s area and you have a fun event every week!
Fair Oaks Pharmacy – South Pasadena landmark with a completely restored 50’s soda fountain serving lunch and ice cream delights.
Gus’s BBQ – American BBQ restaurant and bar.
Garfield Park – Large South Pasadena park with playground equipment (swings and slides for kids), barbecues, picnic tables, tennis courts, restrooms, large grassy areas, street parking. Special events include live music, live theater and movie nights in the park.
The Dinosaur Farm – Amazing retail space with tons of toys that are (mostly) devoted to dinosaurs.
Mama’s Brick Oven Pizza – Pizza and beer plus other great Italian foods.
Tokoro – Great Japanese food and sushi.
Canoe House – Hawaiian themed restaurant and bar.
Berry Opera – Extraordinary French pastries and gourmet coffee.
Starbucks South Pasadena – – Coffee and light snacks.
Habit Burger – Crazy good hamburgers.
Urban Pet – – Convenient local pet supplies.
There is an existing garage structure at the rear of the lot with separate driveway access from Meridian Avenue. This is a HUGE structure that has the potential to convert to a full sized ADU. Check with the city on ADU rules.
1555 Diamond Avenue in South Pasadena is listed at just $949,000. This is essentially the value of the land only. If you’re interested in taking a look or would like to hear a few further details – give me a call at: (626) 437-6800. This may be the last large lot with development opportunity on Diamond Avenue by South Pasadena High School. Don’t miss out – because once it’s gone there will never be another property of this scale at this price. You can’t go wrong with your local South Pasadena real estate agent.
Your Real Estate Friend,
Derek
