2058 N Lake Avenue Active

Altadena,CA 91001

$ 3750000

- Bed

- Bath

6704 SqFt


Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 6,704 sqft

Price per Sqft $559

MLS Listing ID CRPF24148851

Year Built 1940

Lot Size 0.568 Acres

Property Description

Property Details: This investment opportunity comprises two parcels of land totaling 24,744 square feet. The current development on these parcels includes: Parcel 1: A 9-unit apartment complex featuring a mix of 6 one-bedroom and 3 two-bedroom units. Additionally, this parcel boasts three 2-car garages and on-site laundry facilities. Parcel 2: Positioned to the north, this parcel includes a single-family residence at the rear of the property with a detached garage conversion. Notably, the front portion of this parcel offers ample parking space for up to 18 vehicles and a site for development. Opportunity 1: Expansion and Conversion: The prospective investor can explore the possibility of adding additional units to the parking area. Additionally, there exists the potential to convert the current garages into income-generating units, thereby maximizing the revenue potential of the property. Opportunity 2-A new development of low income housing for Senior citizens or… Alternatively, investors may opt to embark on a new development project encompassing both parcels. This comprehensive approach allows for the creation of a fresh, integrated development plan spanning across the entire property. Importantly, rental income from the existing structures can be sustained throughout the pl

Location

State CA

County Los Angeles

Interior

Cooling Wall/Window Unit(s)

Laundry Other

Building

Lot Description Level,Other

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