1104 N Lake Avenue, Pasadena, California 91104, Pasadena, 91104 - 0 bed, 0 bath
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Pasadena, California 91104
Analysis of 1104 N Lake Avenue, Pasadena, California 91104 is currently available with a list price of $1,195,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Pasadena Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1951 (75 years old) with no major renovations cited. The property is explicitly marketed as a 'redevelopment opportunity' with the 'true value' in its maximum build-out potential for 15-20 units, indicating the existing structures are intended for demolition.
Located within the North Lake Specific Plan, the site offers a base density of 48 units per acre with the potential to reach 15-20 units by utilizing State Density Bonuses.
As a designated Transit-Priority Area near the Metro A Line, the project qualifies for significant parking reductions and expedited CEQA processing, streamlining the development timeline.
The existing well-maintained multi-unit residential configuration provides immediate cash flow to offset carrying costs while the owner navigates the entitlement and permitting phases.
The presence of a fourth non-conforming dwelling may complicate traditional financing options and requires careful legal due diligence during the redevelopment process.
A recent price reduction from the original list price suggests that the initial valuation was ahead of market demand for the site's current state and required investment.
REDEVELOPMENT OPPORTUNITY: Here is a rare opportunity to acquire a prime infill site in the heart of the newly adopted North Lake Specific Plan (NLSP). This 8,618 SF parcel sits within the high-growth Washington Place subarea, designated for Washington Mixed-Use (NLSP-WMU). Zoning also allows for a Residential Care Facility for the Elderly. The site currently features a well-maintained 3-unit residential with a 4th non-conforming dwelling, providing immediate cash flow during the entitlement process. The true value lies in the Maximum Build-Out Potential. Under current NLSP standards, the site supports a base density of 48 units per acre (approx. 10 units). By utilizing the State Density Bonus (AB 1287/SB 1818), developers can achieve an estimated 15-20 units with a 4-story 'Wedding Cake' structure. Property next door at 1112 N. Lake after adding a 749 square feet ADU is now worth per Zillow Zestimate $1,636,900. Boasting a 'Very Walkable' score, the site is steps from Washington Park, the historic Bungalow Heaven district, and the thriving retail nodes of Washington Blvd. It serves as a critical link to the Metro A Line (Lake Station), making it a 'Transit-Priority Area' (TPA) that qualifies for significant parking reductions and expedited CEQA processing.Position your portfolio at the leading edge of Pasadena's most significant urban redesign in decades. 1104 N. Lake Ave is not just a lot; it's the future of North Pasadena.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1951 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
May 27, 2026
$1,195,000
$1,250,000
-4% Price Drop
Initial Listing
Apr 23, 2026
$1,250,000
$1,358,000
-8% Price Drop
Initial Listing
Mar 13, 2026
$1,358,000
Initial Listing
Jan 8, 2015
$749,000
Public Record
Oct 4, 2007
$203,500
Public Record