93 N Craig Avenue, Pasadena, California 91107, Pasadena, 91107 - 3 bed, 1 bath
Loading property details...
Pasadena, California 91107
Analysis of 93 N Craig Avenue, Pasadena, California 91107 is currently available with a list price of $1,790,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Pasadena Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The MLS listing explicitly states 'SELLING FOR LAND VALUE' and that the existing structure 'will require demolition' for a 6-unit development. Built in 1920, the property is over 100 years old, and the images show a severely aged exterior with clear signs of deferred maintenance. The property's value is solely based on its land and redevelopment potential, aligning perfectly with the 'tear-down' criteria.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9009, living area = 1092.
The property comes with explicit approval for building 6 units, significantly de-risking and accelerating the development process by bypassing major entitlement hurdles.
Marketed specifically for its land value and multi-unit development potential, this property offers a clear and defined path to maximizing investment returns.
The 1920-built single-family home is likely outdated and will require demolition, adding to the overall development costs and project timeline.
The list price of $1.79M for 'land value' represents a substantial upfront capital outlay, potentially limiting the buyer pool to well-capitalized developers.
The property's value is almost entirely tied to its development potential, making it unsuitable for traditional home buyers and narrowing its market appeal to specific investors/developers.
SELLING FOR LAND VALUE. APPROVED OF BUILDING 6 UNITS, GREDT DEVELOPMENT OPPORTUNITY.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 15% |
| Square foot | 1,092 | 1,843 | 8% |
| Lot Size | 9,009 | 8,380.5 | 64% |
| Price | $1.79M | $1.55M | 63% |
| Price per sq ft | $1.6K | $845 | 99% |
| Built year | 1920 | 1949 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 286 | 187 | 93% |
Jul 10, 2025
$1,790,000
Initial Listing