1156 Steuben St Pasadena, CA 91106
Playhouse Village NeighborhoodEstimated payment $6,063/month
Highlights
- Very Popular Property
- Property is near public transit
- No HOA
- Dual Staircase
- Wood Flooring
- 4-minute walk to Grant Park
About This Home
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. New sewer line.
Listing Agent
COMPASS Brokerage Phone: 626-818-0980 License #00691382 Listed on: 11/13/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1905
Lot Details
- 6,807 Sq Ft Lot
- Lot Dimensions are 56x121
- Two or More Common Walls
- Rectangular Lot
- Level Lot
Parking
- 3 Open Parking Spaces
- 2 Car Garage
Home Design
- Duplex
- Entry on the 1st floor
- Fixer Upper
- Combination Foundation
- Raised Foundation
- Stone Foundation
- Slab Foundation
Interior Spaces
- 3,164 Sq Ft Home
- 2-Story Property
- Dual Staircase
- Living Room
- Basement
Flooring
- Wood
- Carpet
- Laminate
- Tile
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Utilities
- Cooling System Mounted To A Wall/Window
- Floor Furnace
- Wall Furnace
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Legal Lot and Block 33 / M
- Tax Tract Number 4050
- Assessor Parcel Number 5735015003
- $694 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 5 Units
Amenities
- Laundry Facilities
Building Details
- 5 Leased Units
- Rent Control
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Gardener Expense $1,440
- Insurance Expense $5,000
- Other Expense $2,170
- Water Sewer Expense $8,022
- New Taxes Expense $12,500
- Operating Expense $29,562
- Gross Income $77,244
- Net Operating Income $47,682
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $14,707 | $1,304,661 | $977,976 | $326,685 |
| 2024 | $14,707 | $1,279,080 | $958,800 | $320,280 |
| 2023 | $3,132 | $220,081 | $210,533 | $9,548 |
| 2022 | $3,035 | $215,766 | $206,405 | $9,361 |
| 2021 | $2,907 | $211,536 | $202,358 | $9,178 |
| 2020 | $5,672 | $486,908 | $463,496 | $23,412 |
| 2019 | $5,685 | $477,361 | $454,408 | $22,953 |
| 2018 | $2,747 | $201,239 | $192,507 | $8,732 |
| 2016 | $2,613 | $193,427 | $185,033 | $8,394 |
| 2015 | $2,584 | $190,522 | $182,254 | $8,268 |
| 2014 | $2,549 | $186,791 | $178,684 | $8,107 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/08/2026 01/08/26 | Price Changed | $925,000 | -7.5% | $292 / Sq Ft |
| 11/13/2025 11/13/25 | For Sale | $1,000,000 | -- | $316 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | None Listed On Document | |
| Deed | -- | None Listed On Document | |
| Quit Claim Deed | -- | None Listed On Document | |
| Grant Deed | -- | None Listed On Document | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PF25256939
APN: 5735-015-003
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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