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$3,750,000
157 Days On Site

2058 N Lake Avenue
Altadena, CA 91001

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
6,704
SqFt
$559
/SqFt
1940
Built
County:
Los Angeles
Listed by John Fredrickson of Sotheby's International Realty [email protected]

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2058 N Lake Avenue2058 N Lake Avenue2058 N Lake Avenue2058 N Lake Avenue
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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.

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Listing Snapshot
Price 
$3,750,000
Days On Site 
157 Days
Bedrooms 
N/A
Inside Area (SqFt) 
6,704 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.568 Acres
Year Built 
1940
MLS® Number 
PF24148851
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
5 months agoStatus changed to Active
5 months agoListing updated with changes from the MLS®
5 months agoListing first seen on site
General Features
Acres 
0.568
Garage 
Yes
Garage Spaces 
22
Number Of Stories 
2
Parking 
Assigned
Parking Spaces 
44
Property Sub Type 
Apartment
SqFt Total 
6704
Stories 
Two
Utilities 
Cable AvailableSewer ConnectedWater Connected
Zoning 
LCC2*
Interior Features
Cooling 
Wall/Window Unit(s)
Laundry Features 
Common Area
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Exterior Features
Lot Features 
Near Public Transit
Pool Features 
None
Road Frontage 
City Street
Community Features
Building Access 
Front
Community Features 
Street LightsSidewalks
Financing Terms Available 
Cash
MLS Area 
604 - Altadena
Roads 
Paved


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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