According to the book South Pasadena by Rick Thomas: in 1928 the school was rebuilt by the architectural firm of Marsh, Smith and Powell who gave us the building you see here. It has been used to house the school district administrative offices since 1979.
Thankfully, this lovely place has suffered only minimal alteration. It looks a lot like it did when it was built except for a tower that was removed in 1949 for earthquake safety concerns. In 1952, the original school bell was taken down placed in front of the building. I don't think the city has to worry about anybody trying to steal the thing -- it weighs a quarter ton and was cast of solid iron way back in 1889.
I love to linger here when I walk by, and I often do. (It's right across from Kaldi as well as the library.) I've already mentioned how much I like those impossibly whimsical multicolored bricks as well as the funny W-shaped squiggles on the arch columns. But take a look in the lower left corner at that fallen section of the low wall. The rest of the building is so pristine and perfect, I like the flaw of that off-kilter tilt. I don't know who or what knocked it over (a rowdy teenager? An earthquake?) but I hope nobody ever fixes it.