279 Parke Street, Pasadena, California 91101, Pasadena, 91101 - bed, bath

279 Parke Street, Pasadena, California 91101 home-pic-0
ACTIVE$1,449,500
279 Parke Street, Pasadena, California 91101
0Bed
0Bath
3,439Sqft
11,392Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Income Potential: Rare 4-unit quadruplex offering substantial rental income and long-term investment growth in a desirable Pasadena neighborhood.
Top Cons:
As-Is Sale Condition: The property is offered 'as-is,' implying potential for immediate repairs, renovations, or deferred maintenance costs for the buyer.

Compared to the nearby listings

Price:$1.45M vs avg $1.42M (+$29,500)67%
Size:3,439 sqft vs avg 2,850 sqft67%
Price/sqft:$421 vs avg $49833%

More Insights

Built in 1910 (115 years old).
Condition: Built in 1910 and sold 'as-is,' this property requires substantial rehabilitation. The images clearly show severely outdated kitchens with old appliances, laminate countertops, and worn flooring, along with bathrooms featuring old fixtures and finishes. While the exterior appears maintained, the age of the building and lack of visible modern updates indicate that major systems (plumbing, electrical, HVAC) are likely original or very old and will require significant capital investment and extensive repairs to meet current standards.
Year Built
1910
Close
-
List price
$1.45M
Original List price
$1.5M
Price/Sqft
$421
HOA
-
Days on market
-
Sold On
-
MLS number
DW24216149
Home ConditionPoor
Features
View-

About this home

Discover an outstanding investment opportunity in beautiful Pasadena with this rare 4-unit property! Perfect for both investors and owner-occupants, this versatile property allows you to live in one unit while generating income from the other three. Each unit is designed with its own laundry hookups, making it a highly attractive feature for potential tenants. The property also offers a total of 6 parking spaces located at the back, providing plenty of off-street parking options for all residents. This property is ideally located in close proximity to the Villa Parke Community Center and Park, offering recreational amenities just steps away. You’ll also enjoy convenient access to an array of local restaurants, shops, and major freeways, making it a prime location for both renters and homeowners alike. The property consists of four distinct units: 285 Parke: The main house, featuring a spacious layout with 3 bedrooms and 2 full bathrooms, ideal for an owner-occupant or a high-end rental. 283 Parke: This adjacent unit offers 3 bedrooms and 1 bathroom, perfect for families or roommates seeking ample living space. 281 Parke: Located at the rear of the property, this cozy unit has 1 bedroom and 1 bathroom, ideal for a single tenant or a couple looking for privacy. Rear Unit: The second back unit offers a larger 3-bedroom, 2-bath layout, providing comfortable living for a larger family or group of tenants. This property is being sold in "as-is" condition, reflecting its competitive pricing, making it an exceptional investment for the discerning buyer. Whether you’re looking to rent out all units or occupy one and rent the others, this property presents limitless potential for long-term income growth in a highly desirable Pasadena neighborhood. Don’t miss out on this chance to own a multi-unit property in a prime Pasadena location—schedule a viewing today!

Condition Rating
Poor

Built in 1910 and sold 'as-is,' this property requires substantial rehabilitation. The images clearly show severely outdated kitchens with old appliances, laminate countertops, and worn flooring, along with bathrooms featuring old fixtures and finishes. While the exterior appears maintained, the age of the building and lack of visible modern updates indicate that major systems (plumbing, electrical, HVAC) are likely original or very old and will require significant capital investment and extensive repairs to meet current standards.
Pros & Cons

Pros

Exceptional Income Potential: Rare 4-unit quadruplex offering substantial rental income and long-term investment growth in a desirable Pasadena neighborhood.
Flexible Owner-Occupant Model: Ideal for buyers seeking to live in one unit while leveraging rental income from the other three, enhancing affordability and investment.
Prime Urban Location: Strategically located near Villa Parke Community Center, diverse local amenities, and major freeways, ensuring high tenant demand.
Individual Unit Laundry Hookups: A highly attractive feature for tenants, providing convenience and increasing rental appeal for each unit.
Generous Off-Street Parking: Six dedicated parking spaces offer significant value and convenience for residents in a dense urban environment.

Cons

As-Is Sale Condition: The property is offered 'as-is,' implying potential for immediate repairs, renovations, or deferred maintenance costs for the buyer.
Historic Property Age (1910): Built in 1910, the property likely requires substantial capital investment for system updates (e.g., plumbing, electrical) and general modernization to meet current standards.
Prolonged Market Presence: On the market for approximately six months with a price reduction, which may suggest initial overpricing or a need for further buyer incentives to facilitate a sale.

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