851 N Michigan Avenue, Pasadena, California 91104, Pasadena, 91104 - 3 bed, 3 bath
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Pasadena, California 91104
This 1908 Craftsman represents a High-Potential Investment Opportunity, listed at $1,200,000—positioned slightly above the $1,193,502 Fair Market Value. While the property requires modernization, its Fair Condition Rating and historic charm in the coveted Bungalow Heaven district provide a solid foundation for value-add renovations. The expansive 7,333 sqft lot and detached garage offer significant potential for an ADU conversion or workshop. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to build long-term equity through strategic cosmetic updates.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 851 N Michigan Avenue Subject | $1,200,000* List Price | 3 | 3 | 1,703 | $701 | - |
A 892 N Chester Avenue Sold | $925,000 | 2 | 1 | 1,340 | $690 | 0.1 mi |
B 967 N El Molino Avenue Sold | $1,180,000 | 3 | 2 | 1,637 | $721 | 0.7 mi |
C 2030 Paloma Street Sold | $1,360,000 | 4 | 2 | 1,905 | $714 | 1.0 mi |
D 1453 Bresee Avenue Sold | $1,200,000 | 3 | 2 | 1,656 | $725 | 0.8 mi |
E 1315 N Wilson Avenue Pending | $1,200,000 List Price | 4 | 3 | 1,878 | $639 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1908 Craftsman is well-maintained but significantly dated. The interior features older carpeting, 20+ year old bathroom fixtures (exposed plumbing, basic vanity), and original architectural elements that haven't seen a major renovation in decades. While functional and livable, the 'potential to make your own' description and the age of the finishes indicate it needs minor repairs and comprehensive cosmetic updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7333, living area = 1703.
Situated in the highly coveted Bungalow Heaven landmark district, this property offers significant prestige and a picturesque, tree-lined neighborhood environment known for its historic preservation.
The 1908 Craftsman architecture features preserved timeless elements including original wood built-ins, classic moldings, and high ceilings that maintain the home's historic integrity and charm.
The listing notes 'potential to make your own,' suggesting that the interior finishes and systems likely require updating to meet modern luxury standards and buyer expectations.
Built in 1908, the property may necessitate maintenance or costly upgrades to foundational systems such as plumbing, electrical, or seismic retrofitting common to homes of this era.
Pasadena Craftsman charm on a tree-lined street in Bungalow Heaven! This warm 3 bedroom, 2.5 bathroom architectural home has timeless details, a comfortable floor plan and great potential to make your own. The sun-drenched interior boasts high ceilings, classic moldings, and a cozy living room fireplace. The formal dining room includes original wood built-ins and views of the front yard. The centrally located kitchen has an adjacent half bath. Two bedrooms share a full bathroom and laundry, and a third bedroom in the back has an attached three-quarter bathroom. The backyard features a fully fenced grassy area, mature fruit trees and a versatile detached garage perfect for parking, storage, or a future workshop.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,703 | 1,739.5 |
| Lot Size | 7,333 | 7,979 |
| Price | $1.20M | $1.62M |
| Price per sq ft | $705 | $897 |
| Built year | 1908 | 1936 |
| HOA | $0 | $250 |
| Days on market | 15 | 45 |
Jul 7, 2026
$1,200,000
Initial Listing