Multifamily

934 N Lake Ave

934 N Lake Ave, Pasadena, CA 91104

Listing Price: $1,650,000

Cap Rate
2.79%
Number of Units
6
GRM
19.37
Occupancy
97.0%
Price/Unit
$275,000
Price/Gross SF
$446.43
Gross SF
3,696

Investment Overview

Marcus & Millichap is proud to present this six-unit building located at 934 North Lake in Pasadena, CA. Built in 1953, the property sits on 9,247-square feet of and with 3,696-square feet of rentable area and consists of five, one-bedroom/one-bath units; and one. two=bedroom/one-bath unit.

The property offers investors the possibility to renovate all the units and capture significant upside in rents. Unit #2, which was the owner's unit, will be delivered vacant at the clos of escrow. Although the rents are significantly below market, the property is well maintained with no significant deferred maintenance, including the fact that this property does not need seismic retrofitting. Additionally, each unit has above-average size floor plans, and each unit has their own water heater.

Investment Highlights

  • Not Subject to LA Rent Control
  • Built in 1953
  • Huge Value Add - 58% Upside
  • Ample On-Site Parking

Exclusively Listed By

Listing Price: $1,650,000

Cap Rate
2.79%
Number of Units
6
GRM
19.37
Occupancy
97.0%
Price/Unit
$275,000
Price/Gross SF
$446.43
Gross SF
3,696

Investment Highlights

  • Not Subject to LA Rent Control
  • Built in 1953
  • Huge Value Add - 58% Upside
  • Ample On-Site Parking

Investment Overview

Marcus & Millichap is proud to present this six-unit building located at 934 North Lake in Pasadena, CA. Built in 1953, the property sits on 9,247-square feet of and with 3,696-square feet of rentable area and consists of five, one-bedroom/one-bath units; and one. two=bedroom/one-bath unit.

The property offers investors the possibility to renovate all the units and capture significant upside in rents. Unit #2, which was the owner's unit, will be delivered vacant at the clos of escrow. Although the rents are significantly below market, the property is well maintained with no significant deferred maintenance, including the fact that this property does not need seismic retrofitting. Additionally, each unit has above-average size floor plans, and each unit has their own water heater.

Exclusively Listed By

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