
Pasadena, California 91101
This Value-Add Quadruplex Asset is listed at $1,390,000, representing a stable valuation relative to its $1,317,148 Fair Market Value when factoring in the functional four-unit density. Currently in Poor Condition Rating, this 1914 Craftsman offers immense upside through the restoration of original architectural elements and a massive 1,000 sq. ft. vacant studio. With ADU Potential, a 2-car garage, and distant mountain views, the property is perfectly positioned to capture Pasadena's high rental demand. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Specialists.
Property is extensive renovation needed.
Built in 1914, this property shows significant signs of age and deferred maintenance. The kitchens feature outdated appliances, worn cabinetry, and old flooring (linoleum/tile). Bathrooms have vintage pink and white tile, wall-mounted sinks, and older fixtures, indicating they are likely original or renovated 30-50+ years ago. Interior spaces have worn flooring (some hardwood, some carpet, some checkered linoleum), peeling paint, and visible wear and tear throughout. The description explicitly states it 'likely requires significant investment for restoration, updating systems (electrical, plumbing), and addressing potential deferred maintenance.' This aligns with the 'poor' category, requiring substantial repairs and rehabilitation.
The property functions as a 4-unit despite being assessed as 3, offering immediate increased income potential and a higher cap rate upon legitimization.
Situated in a highly desirable and centrally located Pasadena neighborhood, ensuring strong rental demand and long-term appreciation.
Potential for restoration of charming Craftsman units, conversion of basement space for laundry, and exploration of ADU additions to maximize revenue.
The difference between the tax assessor's 3 units and the property's functional 4 units requires thorough buyer due diligence, potentially involving legal and permitting costs to legitimize the additional unit.
Built in 1914, the property likely requires significant investment for restoration, updating systems (electrical, plumbing), and addressing potential deferred maintenance to meet modern standards and tenant expectations.
Opportunities like adding a laundry room or ADUs are subject to city verification and approval, introducing uncertainty, potential delays, and additional capital expenditure.
Attention Investors, Future Pasadena Buyers, and 1031 Exchange Clients! The Tax Assessor shows this as a 3-unit property; however, upon inspection, you’ll find it actually functions as a 4-unit property! Located in one of Pasadena’s most desirable and centrally located neighborhoods, this property consists of three 1-bedroom/1-bath units and one large vacant studio (approximately 1,000 sq. ft.). Separate 2 car garage and basement. Room to put laundry room in the basement. Check with the City. Current rents for the one-bedroom units are $1,471, $1,568, and $1,409. This is an excellent opportunity to restore charming Craftsman-style units, capitalize on strong rental demand, and explore the potential to add ADUs—buyer to verify with the City of Pasadena. Don’t miss out—submit your best offer!
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 | 2,846 | 2,326 | 83% |
| Lot Size | 6,432 | 9,251 | 33% |
| Price | $1.39M | $1.27M | 83% |
| Price per sq ft | $488 | $546 | 33% |
| Built year | 1914 | 1931 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 153 | 161 | 50% |
Dec 13, 2025
$1,390,000
$1,419,000
-2% Price Drop
Initial Listing
Nov 20, 2025
$1,419,000
Initial Listing
Oct 10, 2001
$325,000
Public Record