1157 1165 Lake Avenue, Pasadena, CA 91104
List Price: $2.4M
Listing Status: Active
0Days on Market: 49
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1923
Lot Size: 21,106 sq ft
Garage Spaces: 4
Private Pool: Yes
MLS Number: P1-27267
About This Property
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.
Listing provided by: Giusy Mele-Brown DRE #01252230 (626) 440-5100 giusy@having-fun.com, BHHS California Properties
Source: CRMLS, MLS #: P1-27267