279 Parke Street, Pasadena, California 91101, Pasadena, 91101 - 0 bed, 0 bath
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Pasadena, California 91101
This 4-unit High-Potential Investment Opportunity is listed at $1,880,000, positioned slightly above the $1,796,798 Fair Market Value. Despite the premium, the property offers significant upside through its 3-unit vacancy status, allowing for immediate market-rate rent resets. Featuring a Condition Rating of 3 with recent roof and flooring upgrades, the asset includes 10 off-street parking spaces and ADU development potential on its 11,392 sqft lot. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage immediate rental income and long-term density growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 279 Parke Street Subject | $1,880,000* List Price | 0 | 0 | 3,439 | $522 | - |
A 526 N Madison Active | $1,550,000 List Price | 0 | 0 | 3,326 | $466 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Originally built in 1910, the property has undergone significant recent renovations including a brand-new roof, new flooring, and updated windows. Interior photos show modern kitchens with new appliances and the installation of contemporary mini-split HVAC systems, making the vacant units move-in ready and well-maintained.
With three out of four units delivered vacant, including the primary 3-bedroom residence, investors can immediately set market-rate rents and maximize cash flow without the constraints of existing tenancies.
The expansive 11,392 sqft lot includes additional land at the rear, offering a prime opportunity for ADU development to further increase the property's density and long-term valuation.
Rare for a 1910 property in a dense Pasadena location, the provision of approximately 10 off-street parking spaces significantly enhances tenant desirability and competitive market positioning.
The property was recently sold within the past year on 2025-06-10. The sold price is $1,370,000.00.
The property is being sold in 'as-is' condition, which implies the buyer may need to budget for immediate capital expenditures or deferred maintenance typical of a century-old structure.
Given the 1910 construction date, the property may feature aging plumbing, electrical, or foundation systems that require specialized upkeep compared to modern multi-family assets.
Discover an exceptional investment opportunity in the heart of Pasadena with this rare 4-unit income property, offering a highly desirable unit mix and strong upside potential. With three units delivered vacant and only the smallest rear unit occupied, this property is ideal for both investors and owner-occupants seeking immediate flexibility and long-term income growth. The property also offers additional land at the rear with strong potential for future ADU development (buyer to verify with the city), presenting a valuable opportunity to further increase income and maximize long-term returns. Each unit features its own laundry hookups. The property also provides approximately 10 off-street parking spaces, a significant advantage in this prime Pasadena location. Ideally situated near Villa Parke Community Center and Park, the property offers easy access to recreational amenities, while also being conveniently close to local dining, shopping, and major freeways—making it highly attractive to tenants and homeowners alike. Property Breakdown: 285 Parke (Main House – Delivered Vacant) Spacious 3-bedroom, 2-bath residence—perfect for an owner-user or premium rental. Recently upgraded with a brand-new roof and flooring, featuring a private front yard, 4 dedicated parking spaces, and a clean basement ideal for storage. Equipped with new refrigerator, washer & dryer, microwave, stove, and dishwasher. 283 Parke (Delivered Vacant,with New Flooring and Windows) 3-bedroom, 1-bath unit offering generous living space, ideal for families or shared living. 281 Parke (Tenant Occupied) Cozy 1-bedroom, 1-bath unit located at the rear for added privacy. 279 Parke (Delivered Vacant) Larger 1-bedroom, 2-bath unit with a flexible layout. Delivered vacant and Equiped with new refrigerator, washer & dryer, microwave, stove, dishwasher. This property is being sold “as-is”, reflecting a compelling entry point for savvy investors. With only the smallest unit currently rented and all larger, higher-income potential units delivered vacant, the property offers a rare opportunity to reset rents to market levels immediately and maximize returns. Don’t miss this opportunity—schedule your private showing today.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,439 | 2,204 | 86% |
| Lot Size | 11,392 | 11,392 | 50% |
| Price | $1.88M | $1.21M | 86% |
| Price per sq ft | $547 | $547 | 50% |
| Built year | 1910 | 1924 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 213 | 14% |
May 5, 2026
$1,880,000
Initial Listing
Jun 10, 2025
$1,370,000
Public Record
Feb 18, 2004
$487,000
Public Record