1156 Steuben, Pasadena, California 91106, Pasadena, 91106 - 0 bed, 0 bath
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Pasadena, California 91106
Analysis of 1156 Steuben, Pasadena, California 91106 is currently available with a list price of $925,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Pasadena Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1905, this property shows significant deferred maintenance and outdated systems. The interiors feature aged kitchens with mismatched appliances, old flooring, and window AC units. The listing's emphasis on 'development potential' and 'new construction' suggests the structure requires substantial rehabilitation or replacement, and the discrepancy between its legal status as a duplex and its current five-unit operation indicates significant non-conforming issues.
Situated within walking distance to Caltech, Pasadena City College, and Colorado Boulevard, the property is in a high-demand rental area with excellent transit accessibility.
Zoned RM48, this lot offers significant upside for investors looking to redevelop or construct high-density housing in a desirable Pasadena neighborhood.
Currently operating with five income-producing units and existing tenants, the property provides steady cash flow while plans for future improvements are finalized.
The property is tax-recorded as a duplex but operates as five units, which may present challenges with traditional financing and local building code compliance.
With only one electric and one gas meter for multiple units, the owner faces higher operational costs and less control over individual tenant utility consumption.
Unique investment opportunity in the heart of Pasadena—perfectly situated within walking distance to Colorado Boulevard, Pasadena City College, and Caltech. This property, zoned RM48, offers significant development potential in one of the most desirable and transit-accessible neighborhoods in the city. While the tax records show the property as a duplex, it is currently operating with five income-generating units. With an attractive Gross Rent Multiplier and Cap Rate, this asset allows you to collect income immediately while submitting plans for new construction or redevelopment. Additional property highlights include: Common laundry facility / Two water heaters/One electric meter and one gas meter/ Delivered with existing tenants in place This is a rare chance to secure a well-located, income-producing property with strong upside potential in a high-demand rental market. Whether you’re looking to expand your portfolio or begin a new project, this property offers both stability and opportunity. New sewer line.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.0 | 50% |
| Baths | 0.0 | 1.0 | 50% |
| Square foot | 3,164 | 2,803 | 50% |
| Lot Size | 6,807 | 8,478 | 17% |
| Price | $925.0K | $1.57M | 17% |
| Price per sq ft | $292 | $564 | 17% |
| Built year | 1905 | 1923 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 160 | 176 | 33% |
Jan 9, 2026
$925,000
$1,000,000
-7% Price Drop
Initial Listing
Nov 13, 2025
$1,000,000
Initial Listing