1156 Steuben Street

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$1,025,000

3,164 Sq.Ft.

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Description

Unique investment opportunity in the heart of Pasadena--perfectly situated within walking distance to Colorado Boulevard, Pasadena City College, and Caltech. This property, zoned RM48, offers significant development potential in one of the most desirable and transit-accessible neighborhoods in the city. While the tax records show the property as a duplex, it is currently operating with five income-generating units. With an attractive Gross Rent Multiplier and Cap Rate, this asset allows you to collect income immediately while submitting plans for new construction or redevelopment.
Additional property highlights include: Common laundry facility / Two water heaters/One electric meter and one gas meter/ Delivered with existing tenants in place This is a rare chance to secure a well-located, income-producing property with strong upside potential in a high-demand rental market. Whether you're looking to expand your portfolio or begin a new project, this property offers both stability and opportunity. Offers are due 7/30/2025 at 6:00 pm

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Location

1156 Steuben Street, Pasadena, CA 91106

Status

For Sale

Enrique Lizarazu

TITLE

Associate-Broker

PHONE

(626) 818-0980

EMAIL

[email protected]

CONTACT AGENT

Property Amenities

Interior

Laundry room Common Area

Fireplace None

Flooring Carpet, Wood

Other Interior Features Multiple Staircases

Area & Lot

Lot Area 6,807 Sq.Ft.

Living area 3,164 Sq.Ft.

MLS® ID PF25149429

Year Built 1905

View Description None

Architecture Styles Bungalow

Type Multi-Family

Status For Sale

Exterior

Stories 2

Pool None

Air conditioning Wall/Window Unit(s)

Heat type Floor Furnace, Wall Furnace

Water Source Public

Garage Space 2.0

Security Features Carbon Monoxide Detector(s), Smoke Detector(s)

Sewer Public Sewer

Parking Driveway, Garage

Lot Features Street Level, Value In Land

Roof Rolled/Hot Mop, Shingle

Finance

Sales Price $1,025,000

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Thank you for your interest in 1156 Steuben Street, Pasadena, CA 91106. We are reviewing your request and will be in touch shortly!

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$1,025,000