185 Monterey Road
South Pasadena, CA 91030
Listing broker / agent: Marcus & Millichap · Filip Niculete · CRMLS
MLS # 26859615 · Last checked Oct 22, 2026 01:31 UTC
About this property
We are pleased to present 185 Monterey Road, a rare fully entitled 53-unit condominium development opportunity located in the highly sought-after city of South Pasadena. The 1.26-acre site has received Tract Map Approval, eliminating years of entitlement risk while allowing a developer to retain flexibility by completing building permits, value engineering, and contractor selection after closing.The approved project consists of 53 condominium residences (46 market-rate and 7 moderate-income units) within a seven-story, approximately 88,111-square-foot building featuring structured podium parking, premium resident amenities, and contemporary architectural design. Offered at $8,000,000 ($150,943 per approved unit), the project represents one of the few large-scale for-sale residential development opportunities available in one of Los Angeles County's most supply-constrained ownership housing markets.South Pasadena's exceptional public schools, affluent demographics, walkable downtown, and Metro A Line connectivity continue to drive strong demand for ownership housing while restrictive zoning has significantly limited new condominium development. The offering provides developers the opportunity to capitalize on a scarcity-driven market supported by recent Pasadena new-construction condominium sales exceeding $1,000 per square foot.
Property details
- MLS number
- 26859615
- Status
- Active
- Type
- Land
- Lot size
- 1.2579 acres
- County
- Los Angeles
More property detailsCollapse
Listing
- Days on market
- 94
Bathrooms
- Full bathrooms
- 0
- Half bathrooms
- 0
- Three-quarter bathrooms
- 0
- Quarter bathrooms
- 0
Exterior & parking
- Total parking spaces
- 0
- Lot size source
- Assessor
- Property outlook
- None
Fees & lease terms
- Association
- No
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Arroyo Vista Elementary South Pasadena Unified · South Pasadena | K–5 | 0.4 mi |
| San Pascual Elementary Science Technology Engineering Arts And Mathematics (STEAM) Magnet (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–5 | 0.6 mi |
| Monterey Hills Elementary South Pasadena Unified · South Pasadena | K–5 | 0.6 mi |
| Garvanza Elementary School Technology and Leadership Magnet (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–5 | 0.8 mi |
| Luther Burbank Middle School Science, Technology, Engineering, Arts and Math Magnet (school website, opens in a new tab) Los Angeles Unified · Los Angeles | 6–8 | 0.9 mi |
| Bushnell Way Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–5 | 1.1 mi |
| South Pasadena Senior High South Pasadena Unified · South Pasadena | 9–12 | 1.1 mi |
| Sierra Vista Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–6 | 1.3 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $7,000,000
- MLS-reported original asking price
- $8,000,000
- MLS-reported previous asking price
- $8,000,000
- MLS-reported last price change
- 2026-09-21 09:21 UTC
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 05:35 | $7,000,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in South Pasadena
Active residential homes for sale in South Pasadena, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
4 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-22 02:41 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
Explore a fixed-rate loan scenario. The price comes from this listing; a 20% down payment and 30-year term are starting assumptions, not requirements. Enter your own interest rate—not APR—and estimated costs.
Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗