93 N Craig Avenue, Pasadena, California 91107, Pasadena, 91107 - 3 bed, 1 bath
93 N Craig Avenue
Pasadena, California 91107
Property Price
SUMMARY
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.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
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.
- Pre-Approved Development
The property comes with explicit approval for building 6 units, significantly de-risking and accelerating the development process by bypassing major entitlement hurdles.
- High-Value Development Potential
Marketed specifically for its land value and multi-unit development potential, this property offers a clear and defined path to maximizing investment returns.
CONSRISKS & DEFICIENCIES
- Existing Structure Condition/Age
The 1920-built single-family home is likely outdated and will require demolition, adding to the overall development costs and project timeline.
- High Initial Investment
The list price of $1.79M for 'land value' represents a substantial upfront capital outlay, potentially limiting the buyer pool to well-capitalized developers.
- Limited Buyer Pool
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.
About 93 N Craig Avenue
SELLING FOR LAND VALUE. APPROVED OF BUILDING 6 UNITS, GREDT DEVELOPMENT OPPORTUNITY.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1920
- Lot Size
- 9,009 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 12% |
| Square foot | 1,092 | 1,827 | 10% |
| Lot Size | 9,009 | 8,416.5 | 64% |
| Price | $1.79M | $1.47M | 64% |
| Price per sq ft | $1.6K | $887 | 99% |
| Built year | 1920 | 1946 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 239 | 171 | 89% |
Pricing History
Listed for Sale
Jul 10, 2025
$1,790,000
Initial Listing