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Listed by Giusy Mele-Brown, DRE #01252230 • BHHS California Properties
$2,400,000
Est. payment /mo
0.48 Acres Lot
Active
1157 1165 Lake AVE Pasadena, CA 91104
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Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRP1-27267
Style Spanish
Year Built 1923
Lot Size 0.485 Acres
Source California Regional MLS
Property Description
Exceptional value-add investment opportunity in highly desirable Pasadena, ideally located just north of Mountain Street along vibrant Lake Avenue. This 1922 Spanish-style quadruplex features four spacious 2-bedroom, 1-bath units with an attractive unit mix ideal for strong long-term rental demand.Each unit offers generous layouts with timeless architectural charm, including hardwood floors, original built-ins, formal dining rooms, and breakfast nooks. Select system updates include portions of upgraded electrical, copper plumbing plus in-unit laundry hookups that add convenience and tenant appeal.The property includes a large shared backyard, four single-car garages, and significant upside potential for investors seeking to increase value through renovations, rental repositioning, or possible future expansion. Three units are currently tenant-occupied and professionally managed, providing immediate income stability, while one unit will be delivered vacant--creating an excellent opportunity for immediate improvements and market-rate leasing.Zoned PSC, this property offers compelling flexibility and future potential in one of the area's most desirable rental corridors. A rare chance to acquire a character-rich asset with income today and upside for tomorrow.
Location
State CA
County Los Angeles
Area 646 - Pasadena (Ne)
Rooms
Kitchen Oven Range
Interior
Heating Gravity
Cooling Window / Wall Unit
Laundry Other
Exterior
Parking Features Other
Garage Spaces 8.0
Pool 31, None
View None
Building
Story One Story
Water District - Public
Architectural Style Spanish
Others
Tax ID 5730027024
Special Listing Condition Not Applicable
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