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Listed by Enrique Lizarazu • COMPASS
$ 1,025,000
Est. payment /mo
Pending
1156 Steuben Street Pasadena, CA 91106
3,164 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 3,164 sqft
Price per Sqft $323
MLS Listing ID CRPF25149429
HOA Y/N No
Year Built 1905
Lot Size 6,807 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property 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.
Location
State CA
County Los Angeles
Interior
Heating Floor Furnace, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Wood
Fireplace No
Laundry Common Area
Exterior
View None
Building
Lot Description Level
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