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1562 N Lake Ave 4 Unit Apartment Building $1,699,000 ($424,750/Unit) 4.91% Cap Rate Pasadena, CA 91104
Investment Highlights
- 4-Unit Multifamily (Qualifies for Residential Financing).
- Each Unit has their own Covered Carport Parking.
- Great mix of 2 Bedroom and 1 Bedroom Units!
Executive Summary
Rare 4-Unit Multifamily property in North Pasadena (this property qualifies for residential financing). Ideal mix of 2 x (2B+2B), 1 x (2B+1B), 1x (1B+1B). Building Size is 3,793 SF situated on large 11,936 SF lot . Each unit has their own covered carport parking. All units are currently occupied and all tenants are current on rents. Recent upgrades have been done on the property (List of upgrades can be emailed over).
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$110,640
|
$29.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$110,640
|
$29.17
|
| Taxes |
$18,604
|
$4.90
|
| Operating Expenses |
$8,538
|
$2.25
|
| Total Expenses |
$27,142
|
$7.16
|
| Net Operating Income |
$83,498
|
$22.01
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $110,640 |
| Annual Per SF | $29.17 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $110,640 |
| Annual Per SF | $29.17 |
| Taxes | |
|---|---|
| Annual | $18,604 |
| Annual Per SF | $4.90 |
| Operating Expenses | |
|---|---|
| Annual | $8,538 |
| Annual Per SF | $2.25 |
| Total Expenses | |
|---|---|
| Annual | $27,142 |
| Annual Per SF | $7.16 |
| Net Operating Income | |
|---|---|
| Annual | $83,498 |
| Annual Per SF | $22.01 |
Property Facts
| Price | $1,699,000 | Apartment Style | Low-Rise |
| Price Per Unit | $424,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 4.91% | Building Size | 3,793 SF |
| Gross Rent Multiplier | 15.35 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1907 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Zoning | Co SP-1a LD-16 | ||
| Price | $1,699,000 |
| Price Per Unit | $424,750 |
| Sale Type | Investment |
| Cap Rate | 4.91% |
| Gross Rent Multiplier | 15.35 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 3,793 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1907 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | Co SP-1a LD-16 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,390 | 1,645 |
| 1+1 | 1 | $1,540 | 380 |
| 2+2 | 1 | $2,570 | 1,211 |
| 2+1 | 1 | $1,720 | 616 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5848-033-007 | Total Assessment | $1,412,571 |
| Land Assessment | $757,701 | Annual Taxes | $18,604 ($4.90/SF) |
| Improvements Assessment | $654,870 | Tax Year | 2025 |
Property Taxes
Parcel Number
5848-033-007
Land Assessment
$757,701
Improvements Assessment
$654,870
Total Assessment
$1,412,571
Annual Taxes
$18,604 ($4.90/SF)
Tax Year
2025
Contact
-
Donald La -
ATLAS GROUP - EXP REALTY
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