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292 N Craig Avenue, Pasadena, California 91107, Pasadena, 91107 - 5 bed, 2 bath

292 N Craig Avenue, Pasadena, California 91107 home-pic-0
ACTIVE UNDER CONTRACT$1,250,000
292 N Craig Avenue, Pasadena, California 91107
5Beds
2Baths
2,066Sqft
7,506Lot
Year Built
1923
Close
-
List price
$1.25M
Original List price
$1.6M
Price/Sqft
$605
HOA
-
Days on market
-
Sold On
-
MLS number
CV25012428
Home ConditionExcellent
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.25M(40th), sqft - 2066(40th), beds - 5(60th), baths - 2(60th).

PRICE REDUCED! Seller says SELL! Don't miss this golden opportunity in Pasadena! This freshly remodeled duplex offers a total of 5 bedrooms and 2.5 bathrooms spread across two units, each with its own laundry setup for convenience. With 2066 square feet of thoughtfully designed space, with 3 bedrooms in the upper unit and 2 bedrooms in the lower unit, this property maximizes comfort and usability. Excitingly, there's potential to add a third unit, perfect for expanding a rental portfolio. Whether you're an investor seeking rental income or looking for a versatile living arrangement, this duplex is an excellent purchase in a highly desirable location. Seize the chance to make this fantastic property yours!

Condition Rating
Excellent
Despite being built in 1923, the property has been 'freshly remodeled' as stated in the description, and the images strongly support an extensive, recent renovation. Both kitchens feature modern white shaker cabinets, dark countertops, new sinks with black fixtures, and at least one unit is equipped with new stainless steel appliances. The bathrooms are entirely new with contemporary tiling, modern vanities, and black fixtures. New laminate/LVP flooring and tile are present throughout, along with updated recessed lighting and mini-split AC units, indicating a comprehensive upgrade to current quality standards.
Pros & Cons

Pros

Income-Generating Duplex: The property is a freshly remodeled duplex with two distinct units (3-bed/2-bath and 2-bed/0.5-bath), offering immediate rental income potential or a versatile owner-occupant living arrangement.
ADU Potential: There is explicit potential to add a third unit, providing a significant opportunity to expand the rental portfolio and increase overall property value.
Recent Remodel: Described as 'freshly remodeled,' the property likely features updated interiors, reducing immediate renovation costs and enhancing tenant appeal.
Desirable Location: Situated in a 'highly desirable location' in Pasadena, the property benefits from a strong rental market and potential for appreciation.
Significant Price Reduction: The list price has been substantially reduced from $1.6M to $1.25M, indicating a motivated seller and a potentially attractive acquisition value for buyers.

Cons

Age of Structure: Built in 1923, the property's age, despite recent remodeling, may imply older underlying systems (e.g., plumbing, electrical, foundation) that could require future maintenance or upgrades.
Undisclosed Parking Details: The property description does not provide specific details regarding parking arrangements, which is a critical factor for a multi-unit property in an urban area like Pasadena.
Limited Outdoor Space Information: While the lot size is 7506 sqft, the description lacks details about specific usable outdoor living spaces, landscaping, or amenities, which could be a consideration for tenants or owners.

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