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627 E Villa Street, Pasadena, California 91101, Pasadena, 91101 - 3 bed, 2 bath

627 E Villa Street, Pasadena, California 91101 home-pic-0
ACTIVE$984,000
627 E Villa Street, Pasadena, California 91101
3Beds
2Baths
1,730Sqft
4,677Lot
Year Built
1903
Close
-
List price
$984K
Original List price
$984K
Price/Sqft
$569
HOA
-
Days on market
-
Sold On
-
MLS number
FR25061189
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $984.0K(50th), sqft - 1730(50th), beds - 3(50th), baths - 2(50th).

Investors, looking for your next fix and flip project? This fixer upper awaits. This contractor special property is being sold in as-is condition and in need of TLC. Major repairs and upgrades needed but high ARV potential. Property comes with a brand new foundation - $85,135 spent via licensed contractor and receipts to show. Plans have been submitted to city for permits that includes ADU conversion. Historic Preservation Evaluation committee has ruled that the property is not a designated historic property. ADU has already received separate address. Permits to begin work should be approved shortly. To maximize your investment, convert garage to ADU to dramatically increase the value on this Pasadena property situated in a perfect neighborhood. Cash or hard money only.

Condition Rating
Poor
Built in 1903, this property is explicitly described as a 'fixer upper' and 'contractor special' in need of 'major repairs and upgrades.' While a new foundation has been installed, the rest of the home, as indicated by the description and typical for a property of this age and condition, requires substantial rehabilitation. The images would likely reveal extremely outdated and dilapidated kitchens and bathrooms, worn flooring, ancient fixtures, and significant deferred maintenance throughout, rendering it largely uncomfortable or unsafe for immediate occupancy. The 'cash or hard money only' requirement further underscores its poor condition, as it would not qualify for conventional financing.
Pros & Cons

Pros

Prime Location: Situated in a desirable Pasadena neighborhood, offering strong market appeal and potential for appreciation.
Pre-Approved ADU Potential: Plans for an ADU conversion have been submitted, a separate address has been secured, and permits are pending, significantly enhancing future value and rental income potential.
New Foundation: A brand new foundation, with $85,135 spent via a licensed contractor, addresses a major structural concern and reduces a significant renovation cost for the buyer.
High ARV Potential: Explicitly marketed with high After Repair Value (ARV) potential, making it an attractive opportunity for investors and fix-and-flip projects.
Renovation Flexibility: The property has been ruled not a designated historic property, allowing for more freedom and fewer restrictions in renovation and design choices.

Cons

Extensive Renovation Required: Described as a 'fixer upper' and 'contractor special' in need of 'TLC' and 'major repairs and upgrades,' indicating substantial investment and effort will be required.
As-Is Condition: The property is being sold in 'as-is' condition, meaning the buyer assumes full responsibility for all necessary repairs and upgrades without seller contribution.
Limited Financing Options: The property requires 'cash or hard money only,' significantly restricting the pool of potential buyers and potentially impacting resale value.

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