615 N Mentor Avenue, Pasadena, California 91106, Pasadena, 91106 - bed, bath
ACTIVE$1,350,000
615 N Mentor Avenue, Pasadena, California 91106
0Bed
0Bath
1,390Sqft
11,471Lot
Year Built
1924
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$971
HOA
-
Days on market
-
Sold On
-
MLS number
WS25059744
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.35M(75th), sqft - 1390(50th), beds - undefined(50th), baths - undefined(50th).
Calling all investors and developers. Prime Pasadena duplex located in a desirable neighborhood with over 11,400 sq ft lot, zoned high density allowing to build up to 12 units townhouse/condos or ADU potential. Featuring 2 bungalow style homes with 2bed 1 bath each and separate car garage. Both tenants are on a month-to-month lease with 2 separate gas & electric meters. Conveniently located 1 block near the Shops on Lake, PCC, Caltech, Old Town, Metro Gold Line and easy access to the 210 & 110fwy. Large flat lot with endless possibilities and future expansion.
Price History
Date
Event
Price
03/18/25
Listing
$1,350,000
Condition Rating
Poor
Built in 1924, this property is nearly 100 years old. The kitchens and bathrooms are significantly outdated, featuring older cabinets, basic fixtures, and worn tile flooring, suggesting renovations that are likely 30-50 years old or older. While functional, the interiors show considerable wear and lack modern amenities. The listing description itself highlights the property's age and condition as a weakness, explicitly stating it will 'likely requiring substantial renovation or demolition,' which aligns with the 'poor' condition criteria of needing substantial repairs and rehabilitation, and major components requiring repair due to age.
Pros & Cons
Pros
Development Potential: Zoned high density, allowing for the construction of up to 12 units (townhouses/condos) or significant ADU potential, making it ideal for investors and developers.
Large, Flat Lot: An expansive 11,471 sq ft flat lot provides ample space for future expansion and maximizes the development potential.
Prime Location: Strategically located in a desirable Pasadena neighborhood, one block from the Shops on Lake, PCC, Caltech, Old Town, Metro Gold Line, and major freeways (210 & 110).
Income-Generating Asset: Currently configured as a duplex with two 2-bed/1-bath bungalow-style homes, both on month-to-month leases with separate meters, providing immediate rental income.
Investor/Developer Focus: Explicitly marketed towards investors and developers, highlighting its core value proposition as a redevelopment opportunity rather than a turnkey residential property.
Cons
Age and Condition of Existing Structures: Built in 1924, the existing bungalows are nearly 100 years old, likely requiring substantial renovation or demolition for any significant redevelopment project.
Tenant Relocation Complexity: While month-to-month leases offer flexibility, managing tenant relocation or buyouts can introduce additional costs and timelines for redevelopment plans.
Significant Upfront Investment: The list price of $1.35 million, coupled with the implied need for extensive redevelopment, suggests a substantial capital outlay beyond the purchase price, potentially limiting the buyer pool.