For sale

$7,000,000

Est. $47,311/mo

Land

•

1.26

acres (lot)

185 Monterey Rd, South Pasadena, CA 91030

About this home

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.

Vacant landProperty Type

1.26 acresLot Size

$5,555,556Price/Acres

Listed by Filip Niculete •DRE #01905352 • Marcus & Millichap

•818-212-2748 (agent)

•info@laaa.com (agent)

Listed by Glen Scher •DRE #01962976 • Marcus & Millichap

•818-667-6683 (agent)

•glen.scher@marcusmillichap.com (agent)

Listing updated: Oct 8, 2026 at 09:06am

Redfin checked: 3 minutes ago

•Source:TheMLS #26859615

Payment calculator

$47,311 per month

Principal and interest$38,678

Property taxes

$7,292

HOA dues

Home insurance

$1,342

Utilities

Add

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Around this home

Schools

K - 12
Preschool & daycare

Arroyo Vista Elementary School

Public K-5 • Assigned • 0.4mi

9/10

South Pasadena Middle School

Public 6-8 • Assigned • 1.4mi

10/10

South Pasadena Senior High School

Public 9-12 • Assigned • 1.1mi

10/10

Provided by GreatSchools

About Ostrich

Farm

Ostrich Farm, located between the Arroyo Seco and Mission Street, is a hillside and residential South Pasadena neighborhood with winding lanes and canyon-edge views. The neighborhood’s character concentrates around Mission Street at Fair Oaks Avenue, where sidewalk cafes, indie boutiques, and low-key dining set a small-town rhythm. Craftsman bungalows and Spanish Revival homes mix with tucked-away stair streets and pocket gardens. The historic Ostrich Farm site and nearby Arroyo Seco trails give the area a nature-meets-history feel. A short walk leads to the South Pasadena Farmers’ Market and the Rialto Theatre for a classic Main Street night out.

Provided by Walk Score and Local Logic

Property details

Exterior
Finance

Exterior features
Lot measures approximately 1.2475 acres
Lot dimensions roughly 50 x 300
South of Pasadena Avenue

Home design
Residential land

Sale and tax history for 185 Monterey Rd

Sale History
Tax History

Date

Event

Price

TheMLS #26859615

Sep 21, 2026

Price Changed

$7,000,000

Jul 6, 2026

Listed

$8,000,000

Public Records

Apr 5, 2021

Sold

$2,600,000

Public Records

Jan 28, 2014

Sold

$650,000

Public Records

Dec 23, 2013

Sold

$1,280,000

CRMLS #AR13129113

Oct 2, 2013

Listing Removed

—

Jul 3, 2013

Listed

$688,000

CRMLS #AR13067870

Jul 1, 2013

Listing Removed

—

Apr 16, 2013

Listed

$588,000

CRMLS #AR12138433

Mar 29, 2013

Listing Removed

—

Nov 8, 2012

Listed

$578,000

CRMLS #A12000484

Jul 1, 2012

Listing Removed

—

Jan 3, 2012

Listed

$588,000

CRMLS #A11060612

Jan 1, 2012

Listing Removed

—

May 12, 2011

Listed

$598,000

CRMLS #A10117859

May 9, 2011

Listing Removed

—

Nov 10, 2010

Price Changed

$688,000

Nov 8, 2010

Listed

$588,000

CRMLS #A502328

Jun 17, 2005

Sold

$568,000

May 4, 2005

Listed

$568,000

Public Records

Jan 22, 1988

Sold

$177,500

Year

Property tax

Land + Additions

Assessment*

2025

$32,134 (+235.7%)

$2,728,179 + $142,423

$2,870,602

2024

$9,571 (+2.2%)

$706,976 + $37,142

$744,118

2023

$9,366 (+2.4%)

$706,976 + $37,142

$744,118

2022

$9,149 (−2.6%)

$693,114 + $36,414

$729,528

2021

$9,393 (+1.5%)

$679,524 + $35,700

$715,224

2020

$9,258 (+1.6%)

$515,288 + $220,836

$736,124

2019

$9,116 (+2.3%)

$510,005 + $218,572

$728,577

2018

$8,911 (+1.4%)

$500,005 + $214,287

$714,292

2017

$8,791 (+6.3%)

$480,590 + $205,967

$686,557

2016

$8,273 (+1.6%)

$480,590 + $205,967

$686,557

2015

$8,141 (−5.9%)

$471,167 + $201,929

$673,096

2014

$8,650 (+36.9%)

$645,000 + $60,000

$705,000

2012

$6,317 (+1.2%)

$433,500 + $76,500

$510,000

2011

$6,241 (−0.4%)

$425,000 + $75,000

$500,000

2010

$6,263 (+6.7%)

$393,500 + $98,400

$491,900

2009

$5,872 (−16.7%)

$393,500 + $98,400

$491,900

2008

$7,052

$393,500 + $98,400

$491,900

Public record

Public record
Zoning

Beds

Baths

Stories

—

Lot width

—

Lot depth

—

Lot size

1.25 Acres

Year renovated

1947

Finished Sq. Ft.

777

Unfinished Sq. Ft.

—

Total Sq. Ft.

777

Year built

1947

Style

Single Family Residential

County

Los Angeles County

APN

5311010076

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Oct 7, 2026.

Residential Medium Density District

The RM zoning district applies to areas appropriate for a variety of housing types. Typical residential land uses include single-family bungalow courts, courtyard housing, townhomes, duplexes, triplexes, multiplexes, and other attached dwellings on smaller lots. The allowable residential density ranges from 5.1 to 30 dwelling units per acre, except that any property in the RM district that is also included on the Housing Element Table VI-50 or VI-51 shall require a minimum density of 20 dwelling units per acre. The RM zoning district is consistent with the Medium Density Neighborhood land use designation of the General Plan.

Permitted uses

Include but are not limited to:

Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Other

Historical weather

South Pasadena, CA • 91030

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

82/ 100

Very good sunlight

Sunscore

This home receives average direct sun exposure in South Pasadena. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

9.1 hrs

3.5 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 185 Monterey Rd

$5,807,196

$1.2M under list price of $7.00M

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