650 S Lake Ave, Pasadena, California 91106, Pasadena, 91106 - 0 bed, 0 bath
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650 S Lake Ave
Pasadena, California 91106
ACTIVE
CONDITION: GOOD
0Beds
0Baths
21,260Sq Ft
16,988Lot Size
Property Price
LIST PRICE$13,000,000
SUMMARY
Analysis of 650 S Lake Ave, Pasadena, California 91106 is currently available with a list price of $13,000,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 2010, the property is approximately 16 years old, placing it squarely in the 'Good' category. The listing highlights recent maintenance including new exterior paint and backyard concrete, indicating the luxury units are well-maintained and move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Institutional Location
Situated in the heart of Pasadena's South Lake Avenue district, the property offers exceptional walkability to high-end retail, dining, Cal Tech, and the Playhouse District, ensuring high tenant demand.
- Modern Luxury Infrastructure
Built in 2010, this gated 12-unit complex features desirable underground parking with private 2-car garages for each unit, a rare and premium amenity that commands higher rents.
- Turnkey Condition
Recent capital improvements, including new exterior paint and updated backyard concrete, reduce immediate deferred maintenance costs and enhance the property's overall curb appeal.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =16988, other record lot size in square feet = 17173. Living area discrepancy between mls listing and other public or private record. mls listing living area = 21260, other record living area = 1970.
- High Capital Requirement
With a list price exceeding $14 million, the property requires significant liquidity and sophisticated financing, which narrows the pool of potential investors compared to individual unit sales.
- Limited Unit Diversity
The heavy concentration of 3-bedroom units (11 out of 12) may limit the property's appeal to the large demographic of single professionals or couples seeking smaller, more affordable luxury configurations.
About 650 S Lake Ave
Prime location in the heart of Pasadena. Gated 12 units luxury townhomes. Built in 2010. One unit is a 2 bedrooms and all other 11 units are 3 bedrooms with 2.5 or 3.5 bedrooms. Underground parking. Each unit has a 2 car garage. New exterior paint and new backyard concrete. Super convenient location, walking distance to shops, supermarkets and lots of restaurants. Close to Cal Tech, playhouse district, and The Huntington Library Currently rent are low because mostly long term tenants and well qualified tenants A Rare Value-Add Opportunity: Originally developed as a 12-unit townhome community, each residence already has its own separate APN. A future owner may have the opportunity to establish an HOA and pursue individual unit sales, creating multiple exit strategies beyond traditional long-term rental ownership.
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 2010
- Lot Size
- 16,988 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.7 |
| Baths | 0.0 | 3.0 |
| Square foot | 21,260 | 1,448.316 |
| Lot Size | 16,988 | 30,305.947 |
| Price | $13.00M | $907.9K |
| Price per sq ft | $611 | $648 |
| Built year | 2010 | 1991 |
| HOA | $0 | $463 |
| Days on market | 94 | 44 |
Pricing History
Listed for Sale
Sep 3, 2026
$13,000,000
$14,380,000
-10% Price Drop
Initial Listing
Price Change
Jun 7, 2026
$14,380,000
Initial Listing
Sold
Nov 19, 2019
$11,380,000
Public Record
Sold
Dec 2, 2015
$10,600,000
Public Record