640 S Lake 204, Pasadena, California 91106, Pasadena, 91106 - 2 bed, 3 bath
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640 S Lake 204
Pasadena, California 91106
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,469Sq Ft
0Lot Size
Property Price
LIST PRICE$819,000
EST. MARKET VALUE
$856,668
4% BelowMARKET VALUE
SUMMARY
This Spacious Single-Level Condominium represents a Strong Value Opportunity, listed at $819,000—positioned well below the $856,668 Fair Market Value by 4%. This valuation gap offers $37,668 in Instant Equity for the buyer. While the unit maintains a Condition Rating of 4, it features a remodeled kitchen and dual private patios. Its prime location near the South Lake District provides significant rental demand. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add asset.
Estimated Market Value
$856,668+$37,668 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Pasadena.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 640 S Lake 204 Subject | $819,000* List Price | 2 | 3 | 1,469 | $583 | - |
A 640 S Lake Avenue 105 Sold | $855,000 | 2 | 3 | 1,514 | $565 | 0.0 mi |
B 1000 E California Boulevard E 204 Sold | $849,000 | 2 | 3 | 1,345 | $631 | 0.1 mi |
C 497 E California Boulevard 318 Sold | $878,000 | 3 | 3 | 1,421 | $618 | 0.5 mi |
D 484 E California Boulevard 36 Sold | $785,000 | 2 | 3 | 1,278 | $614 | 0.5 mi |
E 497 E California Boulevard 203 Sold | $749,000 | 2 | 2 | 1,226 | $611 | 0.5 mi |
F 497 E California Boulevard 119 Sold | $707,000 | 2 | 2 | 1,184 | $597 | 0.5 mi |
G 1127 E Del Mar Sold | $650,000 | 2 | 2 | 1,363 | $477 | 0.5 mi |
H 235 S Holliston Avenue 211 Sold | $720,000 | 2 | 2 | 1,122 | $642 | 0.7 mi |
I 960 San Pasqual Street Active | $698,800 List Price | 2 | 2 | 1,262 | $554 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1979, the property is over 40 years old and shows significant dating. While the kitchen has 'newer' laminate flooring and countertops, the bathrooms appear original or have very old updates, and the living areas feature dated green carpeting. The unit is functional but requires cosmetic modernization and bathroom renovations to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Walkable Location
Situated in the heart of Pasadena's South Lake Avenue district, the property offers exceptional walkability to premier shopping and dining like Erewhon and Trader Joe's, plus close proximity to Caltech.
- Spacious Single-Level Layout
With nearly 1,500 square feet of living space, this unit features a rare three-bathroom configuration for a two-bedroom home and seamless indoor-outdoor flow via two private patios.
- Updated Kitchen & Modern Amenities
The kitchen has been tastefully remodeled with newer countertops and flooring, complemented by essential modern features like central HVAC, in-unit laundry, and side-by-side subterranean parking.
CONSRISKS & DEFICIENCIES
- High Monthly HOA Dues
The $800 monthly association fee is relatively high, which may impact the overall affordability and debt-to-income ratio for some prospective buyers.
- Building Age
Constructed in 1979, the building may lack the contemporary architectural aesthetics and extensive common-area amenities found in newer luxury condominium developments in the area.
About 640 S Lake 204
Welcome to this spacious single-level condominium offering two bedrooms and three bathrooms in Pasadena's vibrant South Lake Avenue shopping and dining district. The home features a n open living room centered around a beautiful fireplace, a wet bar, and sliding door that offers tons of natural light while providing access to one of two private patios, creating inviting indoor-outdoor living spaces. The kitchen has been remodeled with newer countertops, ample cabinet space, backsplash and newer laminate flooring, plus a large pantry, and a cozy breakfast nook that also opens to the private balcony.The spacious bedrooms offer plenty of natural light, plus the primary bedroom has direct access to it's own balcony. The home also offers central air and heat, laundry closet, and 2 side by side parking spaces in the subterranean garage. HOA includes water, trash, common area maintenance and landscaping, and earthquake building insurance.Enjoy a convenient & prime Pasadena location near Caltech and the South Lake District, with shopping, dining, coffee shops, and everyday essentials just a short distance away, including Erewhon, Trader Joe's, and Pavilions.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1979
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $800.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,469 | 1,199.529 |
| Lot Size | - | 34,835.592 |
| Price | $819.0K | $778.0K |
| Price per sq ft | $558 | $641 |
| Built year | 1979 | 1979 |
| HOA | $800.0 | $631 |
| Days on market | 32 | 55 |
Pricing History
Listed for Sale
Aug 8, 2026
$819,000
Initial Listing
Sold
Mar 18, 1999
$185,000
Public Record