$3,750,000
2058 N Lake Avenue Altadena, CA 91001
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$3,750,000
Est. payment /mo
6,704 SqFt
Active
2058 N Lake Avenue Altadena, CA 91001
UPDATED:
11/04/2024 11:08 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,704 sqft
Price per Sqft $559
MLS Listing ID CRPF24148851
HOA Y/N No
Year Built 1940
Lot Size 0.568 Acres
Acres 0.57
Property 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 pl
Location
State CA
County Los Angeles
Area Listing
Zoning LCC2
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Other
Exterior
Utilities Available Other Water/Sewer
Parking Type Assigned
Building
Lot Description Level, Other
Water Other
New Construction No
Others
Tax ID 5845010015
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by John Fredrickson • Sotheby's International Realty
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