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1677 N Lake Ave 12 Unit Apartment Building $2,975,000 ($247,917/Unit) Pasadena, CA 91104
Investment Highlights
- Amenities include carport parking, individual laundry rooms, and proximity to the North Lake Avenue corridor’s retail and services.
- Located along North Lake Avenue, a major north-south corridor connecting Pasadena to Altadena, with walkable access to dining, retail
- ncome-Producing Asset: Two-story 12-unit multifamily building offering a total of 9,118 square feet with 14 bedrooms and 14 bathrooms
Executive Summary
Located on North Lake Avenue, the major north/south corridor from Pasadena to Altadena providing a variety of eateries, financial services, transportation, personal service establishments, boutique and major retailers, has this multi-family, twelve unit building much to offer to residents and investors alike. Spacious units, covered surface parking (12 spaces), onsite laundry room, and more. Constructed in 1959 and situated on approximately 0.38 acres. The asset comprises 9,118 square feet across two stories and features a unit mix of (predominantly 1-bed/1-bath units)
Property Facts
| Price | $2,975,000 | Building Class | C |
| Price Per Unit | $247,917 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 9,118 SF |
| Gross Rent Multiplier | 11.7 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | PSR1 | ||
| Price | $2,975,000 |
| Price Per Unit | $247,917 |
| Sale Type | Investment |
| Gross Rent Multiplier | 11.7 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 9,118 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | PSR1 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5848-011-008 | Improvements Assessment | $206,413 |
| Land Assessment | $38,956 | Total Assessment | $245,369 |
Property Taxes
Parcel Number
5848-011-008
Land Assessment
$38,956
Improvements Assessment
$206,413
Total Assessment
$245,369
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1677 N Lake Ave
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