397 Avocado Lane, Pasadena, California 91107, Pasadena, 91107 - 3 bed, 2 bath
ACTIVE$900,000
397 Avocado Lane, Pasadena, California 91107
3Beds
2Baths
100Sqft
4,304Lot
Year Built
1957
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$9,000
HOA
-
Days on market
-
Sold On
-
MLS number
IG24123628
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $900.0K(4th), sqft - 100(2th), beds - 3(50th), baths - 2(50th).
Single Family Residence a 4,304 SF lot. New built coming soon in 3 months. ADU plans approved. Great opportunity don't miss out on this chance to build a new rental.
Condition Rating
Tear down
The property, built in 1957, is explicitly marketed as a 'new build coming soon' with approved ADU plans, indicating the existing structure is not intended for habitation. The listed 100 sqft for a 3-bed, 2-bath home is physically impossible for a functional residence, and the provided images clearly show a construction site with exposed framing and a portable toilet, not a livable home. The property's value is based solely on the land and its redevelopment potential, aligning perfectly with the 'tear-down' criteria.
Pros & Cons
Pros
Approved ADU Plans: The property comes with approved Accessory Dwelling Unit (ADU) plans, offering a significant value-add for potential rental income or flexible living arrangements.
Development Opportunity: Explicitly marketed for a 'new build coming soon in 3 months,' this property presents a prime opportunity for a developer or investor to construct a modern residence.
Desirable Pasadena Location: Situated in Pasadena, a highly sought-after city known for its strong real estate market, amenities, and quality of life, enhancing future property value.
Investment Potential: The listing highlights the chance to 'build a new rental,' positioning it as a strong income-generating or value-add investment opportunity.
Manageable Lot Size: A 4,304 SF lot provides sufficient space for a new single-family residence and an ADU, optimizing development potential in an urban setting.
Cons
Minimal Existing Structure: The listed 100 sqft for a 3-bed, 2-bath property is highly unusual and strongly suggests the existing structure is either a tear-down or not a functional residence, implying significant construction costs.
Extensive Construction Required: The property is clearly positioned as a development project, meaning buyers must undertake substantial demolition and new construction, requiring significant capital, time, and project management.
Not Move-In Ready: Due to the implied nature of the existing structure and the focus on a 'new build,' this property is not suitable for immediate occupancy, limiting the buyer pool to investors or developers.