1550 N Lake, Pasadena, California 91104, Pasadena, 91104 - 3 bed, 4 bath

1550 N Lake
Pasadena, California 91104
Property Price
SUMMARY
Analysis of 1550 N Lake, Pasadena, California 91104 is currently available with a list price of $2,100,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
This 1924 Mediterranean triplex has undergone over $250,000 in extensive renovations within the last two years, effectively bringing it to a like-new standard. The property features fully remodeled bathrooms, updated kitchens with modern appliances, and high-end finishes like hardwood flooring and character detailing. Critical infrastructure—including the roof, electrical panels, HVAC systems with new ducting, and plumbing—has been recently upgraded, eliminating deferred maintenance and meeting the criteria for excellent condition.
PROSSTRENGTHS & OPPORTUNITIES
- Extensive Capital Improvements
With over $250,000 invested in the last two years—including a new roof, electrical panels, HVAC ducting, and plumbing repairs—this property offers a rare turnkey experience with significantly reduced immediate CAPEX requirements.
- Ideal Owner-User Configuration
The spacious, remodeled 2-bedroom upstairs unit features private laundry, a balcony, and central air, providing a high-quality primary residence while the two lower units generate substantial rental income.
- Exceptional Curb Appeal and Lot Size
Sited on a nearly 12,000-square-foot lot with a deep setback and stately Mediterranean architecture, the property offers a premium aesthetic and ample space that distinguishes it from standard multi-family investments.
CONSRISKS & DEFICIENCIES
- High-Traffic Location
Situated on North Lake Avenue, a major Pasadena thoroughfare, the property is subject to higher noise levels and traffic volume, which may be a drawback for tenants seeking a quiet residential atmosphere.
- Modest School Ratings
The assigned public schools for this address have relatively low ratings (ranging from 3 to 5), which could limit the appeal for families looking to occupy the larger units.
About 1550 N Lake
Do not miss seeing this extraordinary opportunity to live in an absolutely beautiful, spacious unit while leasing the others out or to become a landlord of an extremely well maintained & updated triplex in the heart of Pasadena. This stately Mediterranean style triplex, built in 1924, is perfectly sited on a large 11,901 square foot lot with a deep setback & exceptional curb appeal. You might not normally think of living on the top, second floor of a gorgeous triplex like this, but perhaps you are in need of housing while rebuilding, or you would simply like to take advantage of living in one fabulous home while increasing income w/ the other two units. This truly is the live-in investment opportunity you have been thinking about & looking for, offering move in ready condition & exceptional pride of ownership. The upstairs home is like a birdhouse w/ the best features & benefits of a traditional home. This private upstairs unit is gorgeous, spacious & light filled, offering wonderful upgrades as well as character details galore, featuring two spacious bedrooms, two remodeled baths, its own entry, a large patio, balcony, central air, hardwood floors, & private laundry inside the unit. This beautifully maintained complex consists of three units, all w/ their own private laundry inside, providing excellent convenience for residents. The downstairs level offers a one bedroom, one bath unit & a separate studio unit, each well appointed & thoughtfully updated. Each unit includes one garage space plus additional storage that may be used by the owner or rented for extra income. Over $250,000 of upgrades and improvements have been invested into this exceptional property over the past two years, including newer roofing, automatic security gate, extensive landscaping, new electrical panels & upgraded subpanel, Eaton fire remediation, select interior painting, plumbing repairs, HVAC improvements with duct replacement, attic repairs with insulation removal & replacement & new mailboxes. Ideally located close to shopping, dining, transportation, & everyday conveniences, the property is positioned to benefit from the ongoing N. Lake Street renaissance & Pasadena's continued revitalization. Lot size is approx 61 by 195. Buyer & broker to verify all information w/ the city regarding development. Photographs are of the One Bedroom Unit and the Studio Unit - both downstairs. No photos are currently available for the stunning upstairs unit-come visit & see it for yourself!
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1924
- Lot Size
- 11,901 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pasadena Unified Schools
Longfellow (Henry W.) Elementary School
Grades K-5 • 0.3 mi
Charles W. Eliot Middle School
Grades 6-8 • 0.8 mi
Pasadena High School
Grades 9-12 • 2.4 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | - | 67% |
| Baths | 4.0 | - | 67% |
| Square foot | 3,022 | 2,998.5 | 50% |
| Lot Size | 11,901 | 6,435.5 | 67% |
| Price | $2.10M | $1.83M | 50% |
| Price per sq ft | $695 | $679 | 50% |
| Built year | 1924 | 1942 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 146 | 17% |
Pricing History
Listed for Sale
Feb 23, 2026
$2,100,000
Initial Listing
Sold
Oct 6, 2022
$1,800,000
Public Record
Sold
Oct 24, 2016
$1,100,000
Public Record




















































