683 E Villa Street, Pasadena, California 91101, Pasadena, 91101 - bed, bath
ACTIVE$1,150,000$2,512/sqft
683 E Villa Street, Pasadena, California 91101
0Bed
0Bath
2,512Sqft
6,504Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location: Strategically located just blocks north of Old Town Pasadena, offering tenants convenient access to dining, entertainment, shopping, and public transportation, enhancing rental demand and property value.
Top Cons:
Age and Potential for Capital Expenditure: Built in 1951, the property is likely to require substantial capital investment for system upgrades (e.g., plumbing, electrical, HVAC) and modernization to meet contemporary tenant expectations and maximize rental income.
Compared to the nearby listings
Price:$1.15M vs avg $1.21M ($-60,000)33%
Size:2,512 sqft vs avg 2,512 sqft50%
Price/sqft:$458 vs avg $49833%
More Insights
Built in 1951 (75 years old).
Condition: Built in 1951 and on the market for the first time in 40 years, this property shows clear signs of significant age and deferred maintenance. The listing explicitly notes the 'Age and Potential for Capital Expenditure' for system upgrades (plumbing, electrical, HVAC) and 'Lack of Renovation Details' suggesting 'outdated interiors and deferred maintenance.' Without interior photos, a direct assessment of kitchens and bathrooms is impossible, but given the property's age and lack of recent renovations, these areas are highly likely to be severely outdated and require substantial rehabilitation to meet modern standards. The property is currently occupied, indicating it's livable, but the need for major system replacements and modernization aligns with the 'poor' condition criteria.
Year Built
1951
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$458
HOA
-
Days on market
-
Sold On
-
MLS number
P1-25238
Home ConditionPoor
Features
View-
About this home
First time on market in 40 years! 683 E Villa, 4-unit property. Situated only a few blocks north of Old Town Pasadena. The unit mix is three (3) x 1bedroom+1bathroom and three (3)bedroom+1bathroom unit. The property was built in 1951, has a total of +/-2,512 square feet and is situated on a +/-6,504 square foot lot. Off-street carport parking. Each unit has individual water heaters and separately metered for electricity and gas. Delivered fully occupied.
L
Lee Cuellar
Listing Agent
Condition Rating
Poor
Built in 1951 and on the market for the first time in 40 years, this property shows clear signs of significant age and deferred maintenance. The listing explicitly notes the 'Age and Potential for Capital Expenditure' for system upgrades (plumbing, electrical, HVAC) and 'Lack of Renovation Details' suggesting 'outdated interiors and deferred maintenance.' Without interior photos, a direct assessment of kitchens and bathrooms is impossible, but given the property's age and lack of recent renovations, these areas are highly likely to be severely outdated and require substantial rehabilitation to meet modern standards. The property is currently occupied, indicating it's livable, but the need for major system replacements and modernization aligns with the 'poor' condition criteria.
Pros & Cons
Pros
Prime Location: Strategically located just blocks north of Old Town Pasadena, offering tenants convenient access to dining, entertainment, shopping, and public transportation, enhancing rental demand and property value.
Immediate Income Generation: As a fully occupied quadruplex, the property provides instant cash flow for investors, minimizing vacancy risk and offering a stable revenue stream from day one.
Operational Efficiency: Each unit features individual water heaters and separate metering for electricity and gas, significantly reducing landlord utility expenses and administrative burden.
Rare Market Opportunity: Being offered for sale for the first time in 40 years, this property represents a unique chance to acquire a stable asset in a desirable area, often indicating a well-established tenant base.
Valuable Off-Street Parking: The provision of off-street carport parking is a significant amenity in a dense urban environment like Pasadena, adding convenience for tenants and increasing the property's attractiveness.
Cons
Age and Potential for Capital Expenditure: Built in 1951, the property is likely to require substantial capital investment for system upgrades (e.g., plumbing, electrical, HVAC) and modernization to meet contemporary tenant expectations and maximize rental income.
Ambiguous Unit Mix Description: The listing's description of the unit mix ('three (3) x 1bedroom+1bathroom and three (3)bedroom+1bathroom unit' for a 4-unit property) is contradictory and requires immediate clarification to accurately assess income potential and property configuration.
Lack of Renovation Details: With 40 years of single ownership and a 1951 build date, the absence of information regarding recent renovations suggests potential for outdated interiors and deferred maintenance, which could necessitate immediate investment to optimize rental rates and tenant satisfaction.