1501 N El Molino Avenue, Pasadena, California 91104, Pasadena, 91104 - 0 bed, 0 bath
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Pasadena, California 91104
This property presents a High-Potential Investment Opportunity with a List Price of $1,000,000, currently aligned with its $1,000,000 Fair Market Value. Featuring Dual Detached Residences on a 10,122 sqft lot, this asset offers significant flexibility for multi-generational living or rental income. While the property maintains a Fair Condition Rating due to its 1925 vintage, the private gated backyards and prime location near Caltech provide strong long-term value. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in a high-demand Pasadena neighborhood.
Property is moderate renovation needed.
The property consists of two historic homes built in 1925 that appear well-maintained but are significantly outdated. The kitchen features older tile countertops and cabinetry, and the bathroom retains vintage fixtures. While the hardwood floors and original architectural details are charming, the overall interior finishes, appliances, and systems show their age and lack modern updates, fitting the 'fair' criteria of being functional but outdated.
The property features two completely detached homes on a single lot, offering superior privacy and flexibility for multi-generational living or dual rental income without the drawback of shared walls.
Situated on over 10,000 square feet of lushly landscaped grounds, each residence enjoys its own private, gated backyard, providing a rare amount of outdoor space for a multi-unit property.
Located just blocks from Washington Park and minutes from Caltech and Pasadena City College, the property is ideally positioned to attract high-quality tenants and offers excellent commuter access.
Both homes are currently tenant-occupied with strict 'do not disturb' instructions, which may complicate the viewing process, inspections, and immediate possession for an owner-occupant.
Built in 1925, these vintage structures may require significant capital investment for system upgrades and modernization to preserve their historic charm while meeting contemporary building standards.
PLEASE DO NOT DISTURB TENANTS.In the heart of Pasadena, this unique offering presents the best of both worlds: two fully detached homes, each with its own private, gated backyard, set on over 10,000 square feet of lushly landscaped grounds.The front residence is a charming early 20th-century Craftsman Bungalow, featuring two bedrooms and one bath, and capturing the warmth and character of a bygone era. Tucked quietly behind it, the Spanish-style home offers one bedroom and one bath, showcasing original built-ins, beautiful wood detailing, and the distinctive artistry that defines Pasadena's historic architecture.Both homes enjoy soft natural light throughout the day, mature trees, tranquil garden settings, and separate gated yard spaces, creating a true sense of privacy. The property also includes two dedicated parking spaces adjacent to a one-and-a-half-car garage.Ideally located just two blocks north of Washington Park and minutes from Pasadena City College, Caltech, and the 210 Freeway, this property balances peaceful living with exceptional convenience.Whether imagined as a multi-generational compound, or that income property you've been looking with enormous potential, the possibilities are truly endless.Both homes are currently tenant-occupied.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,560 | 2,217 |
| Lot Size | 10,122 | 8,545 |
| Price | $1.00M | $1.20M |
| Price per sq ft | $641 | $647 |
| Built year | 1925 | 1947 |
| HOA | $0 | $0 |
| Days on market | 170 | 81 |
Jul 2, 2026
$1,000,000
$899,000
+11% Price Increase
Initial Listing
Feb 2, 2026
$899,000
Initial Listing