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Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade
$ 2,730,000
Est. payment /mo
Active
1677 N LK Pasadena, CA 91104
0.38 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26217788
Year Built 1959
Lot Size 0.378 Acres
Source California Regional MLS
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 California's 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 attracti
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces
Garage Spaces 16.0
Pool 31, None
View Hills, Local/Neighborhood
Roof Type Shingle
Building
Lot Description Grade - Level
Foundation Raised
Water District - Public
Others
Tax ID 5848011008
Special Listing Condition Not Applicable
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