2058 2068 N Lake Avenue

Altadena, CA 91001

  • 0 Bed(s)
  • 0 Bath(s)
  • 6,704 Sqft
  • 24744
    Sqft(Lot)
$3,750,000

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 Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    46414638

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Property Details

  • Water/Sewer

    • Sewer : Sewer Tap Paid

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

  • Building Information

    • Year Built: 1940
    • Building Area Total: 6,704

    Pool Features

    • None

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.568
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 24744

  • Listing Price Information

    • Original List Price: 3,750,000
    • Listing Contract Date: 2024-07-19

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5845010015

  • Garage and Parking

    • Garage Description: Assigned

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 604 - Altadena
    • Postal Code Plus 4: 2439
    • Directions: Between New York and Mendocino
    • Zoning: LCC2*
    • Source Property Type: Residential Income
    • Area: 604 - Altadena
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 84
    • Common Walls: 2+ Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: Front
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 12/22/2024 @ 08:39

  • MLS: PF24148851
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 6,704 sqft, 24,744 sized lot, and 22 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Altadena , in zip code 91001, this Los Angeles County Home are nearby neighborhoods.