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398 N Holliston Avenue, Pasadena, California 91106, Pasadena, 91106 - 3 bed, 2 bath

398 N Holliston Avenue, Pasadena, California 91106 home-pic-0
ACTIVE$1,299,000
398 N Holliston Avenue, Pasadena, California 91106
3Beds
2Baths
1,150Sqft
12,637Lot
Year Built
1922
Close
-
List price
$1.3M
Original List price
$1.3M
Price/Sqft
$1,130
HOA
-
Days on market
-
Sold On
-
MLS number
AR25133811
Home ConditionPoor
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.30M(50th), sqft - 1150(50th), beds - 3(75th), baths - 2(75th).

Positioned in one of Southern California’s most desirable neighborhoods, a walkable neighborhood minutes from Old Town Pasadena's thriving retail/dining corridor, Caltech, the Rose Bowl, and Metro Gold Line access. This duplex at 398-400 N Holliston Ave presents a high-potential opportunity for investors and developers seeking to capitalize on Pasadena’s robust rental market and enduring demand. Explore options to modernize units, add square footage, or maximize density (e.g., ADUs, multifamily conversion). This property is primed for immediate cash flow or transformative redevelopment. The property currently has two separate units and a three-car garage offering immediate cash flow. Don't miss out on this extraordinary opportunity. Schedule a feasibility review to assess renovation/ redevelopment potential.

Condition Rating
Poor
Built in 1922, this property is in very poor condition, requiring substantial repairs and rehabilitation. The kitchen and bathroom are extremely outdated with old fixtures, worn surfaces, and exposed plumbing. Interior images reveal worn hardwood floors, old linoleum, and a lack of central air conditioning, relying on window units and wall heaters. The listing description explicitly states the property 'likely requires significant modernization, renovation, or even a complete redevelopment,' indicating that major components are well beyond their useful life and need extensive replacement.
Pros & Cons

Pros

Prime Location: Positioned in one of Southern California’s most desirable neighborhoods, offering a walkable lifestyle minutes from Old Town Pasadena's retail/dining, Caltech, the Rose Bowl, and Metro Gold Line access.
Significant Redevelopment Potential: The property presents a high-potential opportunity for investors and developers to modernize units, add square footage, or maximize density through ADUs or multifamily conversion, supported by a large lot.
Robust Rental Market & Immediate Cash Flow: Located in Pasadena’s robust rental market, the existing duplex with two separate units and a three-car garage offers immediate cash flow, appealing to investors seeking current income.
Large Lot Size: With a substantial lot size of 12,637 sqft, there is ample space for expansion, additional dwelling units (ADUs), or a more extensive multifamily redevelopment, significantly enhancing its value-add potential.
Versatile Investment Opportunity: The property is primed for both immediate cash flow generation and transformative redevelopment, appealing to a broad range of investors from passive landlords to active developers.

Cons

Age of Property & Condition: Built in 1922, the property likely requires significant modernization, renovation, or even a complete redevelopment, implying substantial capital expenditure beyond the purchase price.
Small Existing Square Footage: The current 1150 sqft for a duplex (3 beds/2 baths total) is relatively small, which may limit immediate rental income potential without expansion or significant interior reconfiguration.
High Entry Price for Current State: The list price of $1.299 million for a 1922, 1150 sqft duplex suggests a significant portion of the value is in the land and redevelopment potential, requiring a substantial upfront investment before realizing full value.

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