1157 1165 Lake Avenue, Pasadena, California 91104, Pasadena, 91104 - 0 bed, 0 bath
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Pasadena, California 91104
This Spanish-style Quadruplex Asset is listed at $2,800,000, representing a stable entry point at its $2,800,000 Fair Market Value. Currently maintaining a Fair Condition Rating, the property features original 1923 architectural details and hardwood floors that provide a strong foundation for a value-add strategy. The massive 21,106 sqft lot and PSC Zoning offer rare expansion potential and significant upside in a prime Pasadena corridor. With distant mountain views and a mix of occupied and vacant units, this is a premier acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1157 1165 Lake Avenue Subject | $2,800,000* List Price | 0 | 0 | 4,608 | $608 | - |
A 849 E Howard Sold | $2,100,000 | 0 | 0 | 2,975 | $706 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1923 Spanish-style quadruplex is well-preserved with original charm, hardwood floors, and built-ins. However, the kitchens and bathrooms, while functional, are significantly outdated in style and features, appearing to be original or from a very old renovation. The presence of window AC units indicates a lack of central cooling, and the description notes only 'some updated electrical,' suggesting further electrical upgrades may be needed. While maintained and tenant-occupied, these factors place it in the 'Fair' category, as it requires minor updates to meet modern standards, particularly in the kitchen and bathrooms.
As a quadruplex with 3 units currently tenant-occupied and 1 delivered vacant, this property offers immediate rental income and flexibility for an owner-occupant or new tenant placement.
Ideally situated on vibrant Lake Avenue, just above Mountain Street in Pasadena, offering excellent access to amenities, transportation, and a highly desirable neighborhood.
Beautifully preserved 1922 Spanish-style architecture with timeless character, complemented by thoughtful updates such as hardwood floors, original built-ins, and in-unit laundry hookups.
Built in 1923, despite updates, an older property may present ongoing maintenance challenges or require significant capital expenditures for systems not explicitly mentioned as updated (e.g., plumbing, roof, foundation).
All four units are configured as 2 bedrooms and 1 bath, which might limit the diversity of the tenant pool or potential for varied rental income streams compared to properties with different unit sizes or bathroom counts.
The description notes 'some updated electrical,' implying that not all electrical systems have been modernized, which could lead to future upgrade costs or potential issues.
Step into this beautifully preserved 1922 Spanish-style quadruplex, ideally located just above Mountain Street on vibrant Lake Avenue. All 4 units offer 2 bedrooms and 1 bath, blending timeless charm with thoughtful updates, including hardwood floors, original built-ins, a formal dining room, and a cozy breakfast nook. The spacious layouts are filled with natural light, complemented by some updated electrical and in-unit laundry hookups. A generous shared backyard provides plenty of space to relax or entertain. With four single-car garages, this property offers the best of urban living with classic architectural character. Plenty of upside potential and opportunity for expansion. 3 units are currently tenant-occupied and professionally managed. 1 will be delivered vacant. Zoned PSC.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,608 | 3,174 | 83% |
| Lot Size | 21,106 | 6,435.5 | 83% |
| Price | $2.80M | $1.83M | 67% |
| Price per sq ft | $608 | $657 | 33% |
| Built year | 1923 | 1942 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 208 | 202 | 67% |
Sep 26, 2025
$2,800,000
Initial Listing