$3,750,000
For Sale

2058 N Lake Avenue

Altadena, CA 91001
0.57 acres | #PF24148851
Listing OfficeSotheby's International Realty
Browse 20 photos
Type:Multi-Family
Structure:House
Zone:Residential

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 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.

  • Property Details
      • Lot DescriptionTwentyOneToTwentyFiveUnitsAcre, TwentySixToThirtyUnitsAcre, ThirtySixToFortyUnitsAcre, ThirtyOneToThirtyFiveUnitsAcre, Over40UnitsAc
      • Stories2
    • Measurements
      • Acres0.568
    • Parking
      • Parking Spaces22
  • Construction Details
      • Property TypeMulti-Family
    • Condition
      • Year Built1940
  • Utilities / Energy Details
      • Utility FeaturesCableAvailable, SewerConnected, WaterConnected
      • Sewer InformationSewerTapPaid
  • Community and Neighborhood Details
      • CountyLos Angeles
  • Financial Details
      • Original List Price$3,750,000
  • Other
      • MLS #PF24148851

Location

Marylin PaulReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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