693 Santa Barbara Street, Pasadena, California 91101, Pasadena, 91101 - bed, bath
ACTIVE$1,950,000
693 Santa Barbara Street, Pasadena, California 91101
0Bed
0Bath
3,875Sqft
10,596Lot
Year Built
1962
Close
-
List price
$1.95M
Original List price
$1.95M
Price/Sqft
$503
HOA
-
Days on market
-
Sold On
-
MLS number
WS25105866
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.95M(67th), sqft - 3875(67th), beds - undefined(50th), baths - undefined(50th).
Great potential for investors or owner to live at front 3 bedroom+1 bonus room house, and collect great incomes from the other 3 units. Located in quiet neighborhood. Walking distance to Metro Gold Line & Lake Ave. Two Buildings with 4 Total Units. The front building has 3 bedroom plus 1 bonus room (2 bedroom and bonus room downstairs & 1 bedroom upstairs) with 3 bathroom, about 1,636 sq Ft. The other building is about 2,239 Sq Ft with three units of 2 bedroom 1 bathroom each. 100% Occupancy. This home is conveniently located to Pasadena Downtown/Freeway 210/Bus Stations/Pasadena City College/Art Center College.
Condition Rating
Poor
Built in 1962, this property is over 60 years old with no indication of recent major renovations. The visible interior shows dated light fixtures and flooring, suggesting a need for significant aesthetic updates. Crucially, the property analysis highlights the age as a weakness, indicating potential for 'significant capital expenditures for system updates (e.g., plumbing, electrical, roofing) and modernization.' While currently occupied, the property likely requires substantial repairs and rehabilitation to bring major systems and overall condition up to modern standards, especially in key areas like kitchens and bathrooms, which are presumed to be very dated given the lack of images and the property's age.
Pros & Cons
Pros
Strong Income Potential: As a quadruplex with 100% occupancy, the property offers immediate and diversified rental income streams, making it an attractive investment.
Strategic Pasadena Location: Located in a quiet neighborhood with excellent walkability to the Metro Gold Line and Lake Ave, plus convenient access to Downtown Pasadena, Freeway 210, and major colleges.
Versatile Ownership Opportunity: The property caters to both investors seeking rental income and owner-occupants looking to live in one unit while generating income from the others.
Established Occupancy: The reported 100% occupancy rate minimizes vacancy risk and provides stable cash flow from the outset, a key advantage for income properties.
Multi-Unit Configuration: Comprising four distinct units (one 3+1 bonus/3 bath, three 2 bed/1 bath), it offers flexibility in tenant mix and income diversification.
Cons
Property Age: Built in 1962, the property is over 60 years old, potentially requiring significant capital expenditures for system updates (e.g., plumbing, electrical, roofing) and modernization.
Lack of Condition Details: The description does not specify recent renovations or the current condition of the units, implying potential for deferred maintenance or necessary upgrades to optimize rental value.
Potential for High Operating Costs: Older multi-unit properties often incur higher ongoing maintenance, repair, and utility expenses, which could impact the net operating income and overall return on investment.