165 S Meridith Avenue, Pasadena, California 91106, Pasadena, 91106 - 1 bed, 1 bath
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Pasadena, California 91106
Analysis of 165 S Meridith Avenue, Pasadena, California 91106 is currently available with a list price of $928,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1921, the property is over 100 years old. While the kitchen shows a mid-range renovation (granite counters and dark cabinetry likely 10-15 years old) and the hardwood floors appear maintained, the systems are dated, featuring a floor heater and window AC units rather than central HVAC. The listing's heavy emphasis on redevelopment and RM-16 zoning suggests the primary value is in the land, though the structure remains functional and livable.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8004, living area = 624.
The RM-16 zoning on an expansive 8,004 sqft lot allows for the construction of up to three units, providing significant upside for investors and developers.
Ideally situated within walking distance of Caltech and Pasadena City College, the property offers exceptional access to premier educational institutions, shopping, and dining.
At nearly $1,000,000 for only 624 sqft of living space, the property commands a high premium that reflects land value rather than the utility of the existing home.
The current 1-bedroom, 1-bathroom configuration is very small, which may limit its appeal to owner-users who are not prepared for immediate renovation or redevelopment.
Excellent opportunity for investors and owner-users. RM-16 zoning allows multi-family housing for at least 2 homes (buyer to verify). The existing property consists of a charming 1 bedroom, 1 bath bungalow-style home featuring approximately 624 sqft of comfortable living space on an expansive 8,004 sqft lot. Ideally situated close to Caltech and within walking distance of PCC, this residence offers exceptional access to local education, shopping, dining, and some of Pasadena’s most sought-after destinations, a rare find with high-growth redevelopment potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 8% |
| Baths | 1.0 | 2.0 | 24% |
| Square foot | 624 | 1,605 | 4% |
| Lot Size | 8,004 | 7,920 | 52% |
| Price | $928.0K | $1.60M | 24% |
| Price per sq ft | $1.5K | $925 | 92% |
| Built year | 1921 | 1921 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 152 | 12% |
Jun 6, 2026
$928,000
$998,000
-7% Price Drop
Initial Listing
May 4, 2026
$998,000
Initial Listing
Aug 31, 2018
$702,000
Public Record
Mar 14, 2008
$435,000
Public Record