1429 Monterey Road, South Pasadena, California 91030, South Pasadena, 91030 - 0 bed, 0 bath
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South Pasadena, California 91030
This four-unit High-Potential Investment Opportunity is listed at a List Price of $2,500,000—positioned well below the $2,992,428 Fair Market Value by 16%. This valuation gap offers $492,428 in Instant Equity. Featuring a Condition Rating of 3, the property offers stable, well-maintained units in a prime South Pasadena location near award-winning schools. With individual meters and in-unit laundry, this asset is designed for operational efficiency. It is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1429 Monterey Road Subject | $2,500,000* List Price | 0 | 0 | 5,124 | $584 | - |
A 1600 Fair Oaks Sold | $2,000,000 | 0 | 0 | 3,428 | $583 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1923, the property is well-maintained and shows signs of significant updates within the 5-15 year range. Interior photos reveal polished hardwood floors, modern light fixtures, and the addition of mini-split HVAC systems. Bathrooms have been updated with contemporary large-format floor tiles and newer vanities, making the units functional and move-in ready.
Situated in a highly desirable neighborhood blocks from award-winning schools and the Mission Street corridor, ensuring strong tenant demand and long-term appreciation.
Each unit offers approximately 1,300 sqft of living space with in-unit laundry and built-ins, providing a spacious, house-like feel that commands premium rents.
The property features individual gas and electric meters alongside gated parking and dedicated storage for every unit, significantly reducing owner oversight and utility expenses.
With only one parking space per unit for large 1,300 sqft residences, the property may face challenges attracting multi-car households in a car-dependent region.
Built in 1923, the property may require higher maintenance reserves or future capital improvements for aging plumbing, electrical, or seismic systems common in century-old structures.
Fantastic investment opportunity! Well maintained four-unit income property in the heart of South Pasadena. Prime location just blocks from the city's award-winning high school, middle school, and main corridor on Mission Street. Residents enjoy quick access to shops, restaurants, and grocery stores including Trader Joe's and Pavilions. Two units on the main level and two units on the upstairs level, each approximately 1300sqft. All units feature one bedroom, one bathroom, in-unit laundry, living room, dining room, and individual meters for electric and gas. Upstairs units also include a walk-in closet and a large den that can be used as a 2nd bedroom. Gated parking with one parking spot and one storage space per unit. Lush, mature landscaping on the property adds privacy and aesthetic appeal. Built-ins and abundant storage within the units add convenience and functionality. Don't miss this rare opportunity in a high-demand area.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 5,124 | 1,482 |
| Lot Size | 7,848 | 7,559 |
| Price | $2.50M | $1.57M |
| Price per sq ft | $488 | $693 |
| Built year | 1923 | 1924 |
| HOA | $0 | $0 |
| Days on market | 22 | 128 |
Jun 30, 2026
$2,500,000
Initial Listing
Oct 15, 2014
$1,590,000
Public Record
Dec 4, 2003
$800,000
Public Record
Aug 9, 2002
$512,500
Public Record