1677 N Lake, Pasadena, CA 91104
1677 N Lake, Pasadena, CA 91104
1677 N Lake, Pasadena, CA 91104
1677 N Lake, Pasadena, CA 91104
1677 N Lake, Pasadena, CA 91104
1677 N Lake, Pasadena, CA 91104
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Zach Arrington

Zach Arrington

+1(619) 374-5339
$ 2,730,000
Est. payment | /mo

5 Beds

4 Baths

0.38 Acres Lot

Save Virtual Tour
$ 2,730,000
Est. payment | /mo
Save Virtual Tour

5 Beds

4 Baths

0.38 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26217788

Bedrooms 5

Lot Size 0.378 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

12-Unit Mid-Century Value-Add, Excellent Unit Mix + Large Lot, Major Capex Completed (New Roof, New Landscaping, Upgraded electrical panels and subpanels), 8.32% Proforma Cap Rate, Generational Hold (Owned Since 1963). Can Be Acquired together with 295 S Hudson Ave, Pasadena (14 units). 1677 N Lake Ave, a commanding 12-unit value-add apartment community in one of Southern Californias most desirable markets: Pasadena, CA. This generational asset has been meticulously maintained by the same family since 1963. Situated on the prominent Lake Avenue corridor, the property provides tenants with immediate access to premier local destinations including Old Pasadena, the Lake Ave Shopping District, the Rose Bowl, Caltech, and Pasadena City College. The asset is nestled among single-family homes and boutique apartment communities, supported by exceptional local demographics featuring an average household income of $167,051 within a one-mile radius. Constructed in 1959, this classic Mid-Century building boasts excellent curb appeal, enhanced by a well-maintained central courtyard and newly installed drought-tolerant landscaping. The property encompasses 9,118 square feet of rentable space on an expansive 16,478 square-foot, medium-density residential lot (RM-16). The highly attractive unit mix consists of two (2) 2-bedroom/2-bathroom units, two (2) 2-bedroom/1-bathroom units, and eight (8) spacious 1-bedroom/1-bathroom units, averaging 760 square feet each. The floor plans are bright and expansive, featuring large windows for abundant natural light, through-the-wall A/C, and a mix of

Location

State CA

County Los Angeles

Zoning Assessor

Direction FWY 210 exit Lake Ave and go north, property on the west side right before Atchison St.

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5848011008

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10550

MLS Router / San Diego MLS
Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade 

Nearby Locations

Zach Arrington

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(619) 374-5339

zach@zarealtygroup.com

1420 Kettner Blvd suite 100, San Diego, California 92101, USA

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1677 N Lake