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2076 Lake Ave

Altadena, CA 91001
  • $1,500,000
  • STATUS: Active
  • ON SITE: 51 Days
  • MLS #: 22-142709
UPDATED: 74 min ago
$1,500,000
  • 5
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,055
    SQFT
  • $491
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1927
County:
Area:

School Ratings & Info

Description

Excellent Unit Mix - Altadena is one of the hottest submarkets undergoing potential for growth and urbanization. 2076 Lake Ave boasts strong rent collections throughout the pandemic. First Time On The Market in 18 Years - Family owned and operated for the past 18+ years, providing a savvy investor the opportunity to reposition this longtime family owned apartment building. This wonderful complex is 4+1 featuring 5 physical units 1 of which *Is Unpermitted*: (1 unit) Studio/1 Bath, (1 unit) 2 Bed/2 Bath, (1 unit) 2 bed/1 Bath, and (2 units) 1 Bed/1 Bath. Rental Upside Potential - 2076 Lake Ave contains more than 40% in rental upside. Centrally Located and within 3 miles of major freeways, Old Town Pasadena, Pasadena City College, JPL and the The Rose Bowl. Value-Add Opportunity - Ability to reposition the asset to market rents. High-Demand Submarket

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T06:44:22.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/127336029
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2076 Lake Ave Altadena, CA 91001

  • Price: $1,500,000
  • Status: Active
  • On Site: 51 Days
  • Updated: 74 min ago
  • MLS #: 22-142709
5
Beds
0
Baths
0
½ Baths
0.27
Acres
3,055
SQFT
$491
$/SQFT
1927
Built
Neighborhood:
Altadena
County:
Los Angeles
Area:
Altadena
Property Description
Excellent Unit Mix - Altadena is one of the hottest submarkets undergoing potential for growth and urbanization. 2076 Lake Ave boasts strong rent collections throughout the pandemic. First Time On The Market in 18 Years - Family owned and operated for the past 18+ years, providing a savvy investor the opportunity to reposition this longtime family owned apartment building. This wonderful complex is 4+1 featuring 5 physical units 1 of which *Is Unpermitted*: (1 unit) Studio/1 Bath, (1 unit) 2 Bed/2 Bath, (1 unit) 2 bed/1 Bath, and (2 units) 1 Bed/1 Bath. Rental Upside Potential - 2076 Lake Ave contains more than 40% in rental upside. Centrally Located and within 3 miles of major freeways, Old Town Pasadena, Pasadena City College, JPL and the The Rose Bowl. Value-Add Opportunity - Ability to reposition the asset to market rents. High-Demand Submarket
Exterior Features

Lot Size Area 11915 Other Structures None Parking Garage Driveway Total Parking 0

Interior Features

Baths Total 4.00 Common Walls Detached/No Common Walls Cooling Wall Unit(S) Equipment Other Heating Other

Property Features

Assessed Total Value 1002870 Gross Income 89670 Gross Operating Income 89760 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 55170.00 Number Of Buildings 5 Number Of Units 4 Sale Type Standard Security Features None Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 34500 Type Of Units Income Year Built Source Vendor Enhanced Zoning Lcc3*

Listing provided courtesy of Giovanni Oliva DRE# of Ambiance Realty.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T06:44:22.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270