2058 2068 N Lake AVE Active Save Request In-Person Tour Request Virtual Tour
Altadena,CA 91001
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPF24148851
Originating Board California Regional MLS
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 th
Location
State CA
County Los Angeles
Area 604 - Altadena
Interior
Cooling Window / Wall Unit
Laundry Laundry Area,Washer/Dryer - Leased
Exterior
Parking Features Assigned Spaces
Garage Spaces 44.0
Pool None
Building
Lot Description Grade - Level
Sewer Sewer Available
Others
Tax ID 5845010015