1104 N Lake Avenue

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Source: California Regional MLS

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P14058

REDEVELOPMENT OPPORTUNITY: Here is a rare opportunity to acquire a prime infill site in the heart of the newly adopted North Lake Specific Plan (NLSP). This 8,618 SF parcel sits within the high-growth Washington Place subarea, designated for Washington Mixed-Use (NLSP-WMU). Zoning also allows for a Residential Care Facility for the Elderly. The site currently features a well-maintained 3-unit residential with a 4th non-conforming dwelling (Currently Vacant), providing immediate cash flow during the entitlement process. The true value lies in the Maximum Build-Out Potential. Under current NLSP standards, the site supports a base density of 48 units per acre (approx. 10 units). By utilizing the State Density Bonus (AB 1287/SB 1818), developers can achieve an estimated 15-20 units with a 4-story 'Wedding Cake' structure. Property next door at 1112 N. Lake after adding a 749 square feet ADU is now worth per Zillow Zestimate $1,636,900. Boasting a 'Very Walkable' score, the site is steps from Washington Park, the historic Bungalow Heaven district, and the thriving retail nodes of Washington Blvd. It serves as a critical link to the Metro A Line (Lake Station), making it a 'Transit-Priority Area' (TPA) that qualifies for significant parking reductions and expedited CEQA processing.Position your portfolio at the leading edge of Pasadena's most significant urban redesign in decades. 1104 N. Lake Ave is not just a lot; it's the future of North Pasadena.

Property Information

Property Details

Location

Address

1104 N Lake Avenue

County

Los Angeles

City

Pasadena

Zip Code

91104

MLS Area

646 - Pasadena (NE)

Interior Features

Other Rooms

Laundry Features

Common Area, Laundry Room, See Remarks

Building

Building Information

Square Feet

2,087

Year Built

1951

Stories

Construction

Frame, Stucco

Foundation

Raised

Roof

Shingle

Condition

Repairs Cosmetic

Financial

Special Conditions

Standard

Property Taxes

Tax Annual Amount

$11,132

1104 N Lake Avenue, Pasadena, CA 91104

Market Report for 91104