2058-2068 Lake Avenue
$3,750,000
4
10
6,704
6,704
$559
Description
Property Details: This investment opportunity comprises two parcels of land totaling 24,744 square feet. The current development on these parcels includes: Parcel 1: A 9-unit apartment complex featuring a mix of 6 one-bedroom and 3 two-bedroom units. Additionally, this parcel boasts three 2-car garages and on-site laundry facilities. Parcel 2: Positioned to the north, this parcel includes a single-family residence at the rear of the property with a detached garage conversion. Notably, the front portion...Property Details: This investment opportunity comprises two parcels of land totaling 24,744 square feet. The current development on these parcels includes: Parcel 1: A 9-unit apartment complex featuring a mix of 6 one-bedroom and 3 two-bedroom units. Additionally, this parcel boasts three 2-car garages and on-site laundry facilities. Parcel 2: Positioned to the north, this parcel includes a single-family residence at the rear of the property with a detached garage conversion. Notably, the front portion of this parcel offers ample parking space for up to 18 vehicles and a site for development. Opportunity 1: Expansion and Conversion: The prospective investor can explore the possibility of adding additional units to the parking area. Additionally, there exists the potential to convert the current garages into income-generating units, thereby maximizing the revenue potential of the property. Opportunity 2-A new development of low income housing for Senior citizens or… Alternatively, investors may opt to embark on a new development project encompassing both parcels. This comprehensive approach allows for the creation of a fresh, integrated development plan spanning across the entire property. Importantly, rental income from the existing structures can be sustained throughout the planning and entitlement phase of the new development, ensuring financial stability and flexibility.
- Listed by John Fredrickson • DRE #00853111 • Brokerage DRE #00899496 • Sotheby's International Realty • 626-688-9890
Property Details for 2058-2068 Lake Avenue
Parking Spaces Total
44
Private PoolNo
Total Units10.0
Lot Size SourceAssessor
Property Attached YNtrue
Common Walls2+ Common Walls
New ConstructionNo
Average Studio Area UnitsSquare Feet
LISTING UPDATED: 11/04/2024 03:10 AM
Property Details for 2058-2068 Lake Avenue
Status | Active |
---|---|
MLS # | PF24148851 |
Days on Market | 125 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Apartment |
Year Built | 1940 |
Lot Size | 0.57 AC / 24,744 SF |
County | Los Angeles County |
Building Information for 2058-2068 Lake Avenue
Stories2Residences-Year Built1940Building Size-Lot Size0.57 AC / 24,744 SF
Property Information for 2058-2068 Lake Avenue
Property History for 2058-2068 Lake Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 2058-2068 Lake Avenue
This home is within Pasadena Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
---|---|---|
Altadena Elementary School PublicK to 5 | ||
Charles W. Eliot Middle School Public6 to 8 | ||
Pasadena High School Public9 to 12 | ||
Aveson School Of Leaders CharterK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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