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1677 N Lake

Pasadena, CA 91104
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$2,730,000 $11,509/Mo
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Bed 5

Bed

Bath 4

Bath

SqFt16,478

Sqft(Lot)

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 hom es 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 attractive unit mix consists of two (2) 2-bedroom/2-bathroom units, two (2) 2-bedroom/1-bathroom units, and eight (8) spacious 1-bedroom/1-bathroom units, averaging ±760 square feet each. The floor plans are bright and expansive, featuring large windows for abundant natural light, through-the-wall A/C, and a mix of original and upgraded hardwood flooring. Current ownership has injected significant capital to strategically de-risk the asset, including a new roof and comprehensive upgrades to the electrical panels and unit subpanels. Operations are highly efficient: units are separately metered for gas and electricity, each features its own water heater, and the building is serviced by a shared laundry room with leased machines. Parking is generously accommodated by 12 rear carport spaces and 4 open spaces, fundamentally exempting the property from costly soft-story seismic retrofitting requirements. Furthermore, the property has already passed its required SB-721 inspection. Beyond standard interior renovations to capture proven market premiums (achieving an 8.20% proforma CAP rate), the property's massive lot and rear carport layout present a superb opportunity to add ADUs.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,730,000

AD Id : 91701274

MLS Id : AR26217788

Beds : 5

Lot Size : 16,478 Sq. Ft

Tax Amount : $30,593

Year Built : 1959

County : Los Angeles

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Feature Features

  • Interior Features

    Roof: Shingle
    Appliances: GasRange
    Laundry Features: CommonArea

  • Heating & Cooling

    Has Heating: Yes Heating: WallFurnace Has Cooling: Yes Cooling: WallWindowUnits

  • Building Information

    Year Built: 1959
    Building Area Total: 9118
    Construction Materials: Stucco
    Stories: 2
    Pool Features: None
    Private Pool: No
    View: Mountains, Neighborhood

  • Lot Information

    Main Square Feet: 16478 Lot Size Acres: 0.3783 Lot Size Source: Assessor Lot Size Square Feet: 16,478 Lot Description: Landscaped,Level,NearPublicTransit,RectangularLot,StreetLevel

  • Listing Price Information

    Listing Price: $2730000
    Cash, CashToNewLoan

  • Tax Information

    Parcel Number: 5848011008 Tax Lot: 47 Annual Tax: $30593

  • Utility Information

    CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected

  • Location Information

    Direction: FWY 210 exit Lake Ave and go north, property on the west side right before Atchison St. WaterSource: Public Security Features: CarbonMonoxideDetectors,SmokeDetectors
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2152 E Washington, Pasadena, CA, 91104 $1,350,000 4 4 -- 8,118 Sq. Ft
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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 10/10/2026 @ 10:22

MLS: AR26217788 LISTED BY: Handoko Chen, Growth Investment Group Pasade 626-594-4900 SOURCE: CRMLS

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