1755 Morada Place, Altadena, California 91001, Altadena, 91001 - bed, bath

1755 Morada Place, Altadena, California 91001 home-pic-0
ACTIVE$1,699,000
1755 Morada Place, Altadena, California 91001
0Bed
0Bath
2,043Sqft
7,448Lot

Price Vs. Estimate

The estimated value ($1,036,695.09) is $662,304.91 (38%) lower than the list price ($1,699,000). This property may be overpriced.

Key pros and cons

Top Pros:
Income-Generating ADU: Features a legal Accessory Dwelling Unit (ADU) with its own address and electric meter, consistently rented for $3,000/month, providing significant rental income or flexible living arrangements.
Top Cons:
Significant Price Discrepancy: The listing price of $1,699,000 is substantially higher than the estimated property value of approximately $1,036,695, which may indicate overpricing or valuation challenges.

Compared to the nearby listings

Price:$1.70M vs avg $1.11M (+$584,000)84%
Size:2,043 sqft vs avg 1,582 sqft66%
Price/sqft:$832 vs avg $72269%

More Insights

Built in 1924 (101 years old).
Condition: Despite being built in 1924, the property has undergone a '12 month complete renovation' which includes a brand new roof, AC/furnace, water heater, and a fully updated kitchen with new quartz countertops, appliances, and a farmer's sink. The primary bathroom is newly added and features modern finishes. The ADU is also recently converted and well-maintained. All major systems and aesthetic components are new or virtually new, meeting current quality standards, aligning with the 'excellent' criteria for extensively renovated properties.
Year Built
1924
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$832
HOA
-
Days on market
-
Sold On
-
MLS number
P1-21348
Home ConditionExcellent
Features
Good View: Mountain(s)
ViewMountain(s)

About this home

2 Homes for the price of one! The front unit is a 1920's charming Bungalow with 3 beds, 2 bath and 1,422 square feet. An additional 210 square foot private front porch provides a serene oasis to have your morning coffee. The entire house has undergone a 12 month complete renovation. The interior walls and ceilings of the house has been skim coated and newly painted. The kitchen has brand new quartz countertops, dishwasher, stove/oven, backsplash, cabinet handles, farmers sink, and faucet/water spout. 3 spacious bedrooms with plenty of closet space. The primary bedroom has its own newly added spacious primary full bath with a shower tub. Primary Bedroom also has a new walk-in closet. Exterior has been repaired and newly painted. Brand new roof was installed. The attic has been upgraded with new catwalks, new insulation, ducting and a brand new AC and furnace. A brand new water heater has also been installed.The 2nd unit was a passion project and one of the first legal ADUs in the nation with its own address and electric meter. The ADU has been consistently rented for the last 5 years and was recently rented for $3,000/month. Totaling 621 square feet, this once 3-car garage has been converted into an open studio layout with a private entry, electric stove/oven, walk-in closet and bathroom. The ADU has its own washer/dryer hook ups and tankless water heater.The backyard has lemon and grapefruit trees with sprinkler systems installed throughout the property.This income producing property is hard to come by with endless opportunities! Enjoy mountain views, great markets, restaurants and schools all walking distance. Near golf courses, hiking trails and parks.Both units have been professionally cleaned by smoke mitigators after Jan. 7, 2025.

Condition Rating
Excellent

Despite being built in 1924, the property has undergone a '12 month complete renovation' which includes a brand new roof, AC/furnace, water heater, and a fully updated kitchen with new quartz countertops, appliances, and a farmer's sink. The primary bathroom is newly added and features modern finishes. The ADU is also recently converted and well-maintained. All major systems and aesthetic components are new or virtually new, meeting current quality standards, aligning with the 'excellent' criteria for extensively renovated properties.
Pros & Cons

Pros

Income-Generating ADU: Features a legal Accessory Dwelling Unit (ADU) with its own address and electric meter, consistently rented for $3,000/month, providing significant rental income or flexible living arrangements.
Extensive Recent Renovation: The main bungalow has undergone a comprehensive 12-month renovation, including a brand new roof, AC/furnace, water heater, updated kitchen with quartz countertops, new paint, and a newly added primary bath and walk-in closet.
Desirable Location & Amenities: Conveniently located within walking distance to markets, restaurants, and schools, and close to golf courses, hiking trails, and parks, enhancing lifestyle appeal.
Mountain Views: The property offers desirable mountain views, adding to its aesthetic appeal and overall desirability.
Charming Bungalow with Modern Upgrades: Retains the charm of a 1920s bungalow while benefiting from significant modern upgrades and a spacious private front porch, offering a blend of historic character and contemporary comfort.

Cons

Significant Price Discrepancy: The listing price of $1,699,000 is substantially higher than the estimated property value of approximately $1,036,695, which may indicate overpricing or valuation challenges.
Recent Smoke Incident Disclosure: The mention of professional cleaning by smoke mitigators after January 7, 2025, suggests a recent smoke event, which could raise concerns for buyers regarding potential lingering effects or the cause of the incident.
Older Underlying Structure: Despite extensive renovations, the main bungalow was built in 1924, meaning some original structural elements or systems not part of the recent upgrades might require future maintenance or attention.

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