1677 N Lake
Pasadena, CA 91104
Listing broker / agent: Growth Investment Group Pasade · Handoko Chen · han.chen@growthinvestmentgroup.com · CRMLS
MLS # AR26217788 · Last checked Oct 8, 2026 05:05 UTC
About this property
12-Unit Mid-Century Value-Add, Excellent Unit Mix + Large Lot, Major Capex Completed (New Roof, New Landscaping, Upgraded electrical panels and subpanels), 8.32% Proforma Cap Rate, Generational Hold (Owned Since 1963). Can Be Acquired together with 295 S Hudson Ave, Pasadena (14 units). 1677 N Lake Ave, a commanding 12-unit value-add apartment community in one of Southern California’s most desirable markets: Pasadena, CA. This generational asset has been meticulously maintained by the same family since 1963. Situated on the prominent Lake Avenue corridor, the property provides tenants with immediate access to premier local destinations including Old Pasadena, the Lake Ave Shopping District, the Rose Bowl, Caltech, and Pasadena City College. The asset is nestled among single-family homes and boutique apartment communities, supported by exceptional local demographics featuring an average household income of ±$167,051 within a one-mile radius. Constructed in 1959, this classic Mid-Century building boasts excellent curb appeal, enhanced by a well-maintained central courtyard and newly installed drought-tolerant landscaping. The property encompasses 9,118 square feet of rentable space on an expansive 16,478 square-foot, medium-density residential lot (RM-16). The highly attractive unit mix consists of two (2) 2-bedroom/2-bathroom units, two (2) 2-bedroom/1-bathroom units, and eight (8) spacious 1-bedroom/1-bathroom units, averaging ±760 square feet each. The floor plans are bright and expansive, featuring large windows for abundant natural light, through-the-wall A/C, and a mix of original and upgraded hardwood flooring. Current ownership has injected significant capital to strategically de-risk the asset, including a new roof and comprehensive upgrades to the electrical panels and unit subpanels. Operations are highly efficient: units are separately metered for gas and electricity, each features its own water heater, and the building is serviced by a shared laundry room with leased machines. Parking is generously accommodated by 12 rear carport spaces and 4 open spaces, fundamentally exempting the property from costly soft-story seismic retrofitting requirements. Furthermore, the property has already passed its required SB-721 inspection. Beyond standard interior renovations to capture proven market premiums (achieving an 8.20% proforma CAP rate), the property's massive lot and rear carport layout present a superb opportunity to add ADUs.
Property details
- MLS number
- AR26217788
- Status
- Active
- Type
- Residential Income
- Subtype
- Apartment
- Lot size
- 0.3783 acres
- Year built
- 1959
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 1
Building
- Year built
- 1959
- Year built source
- Assessor
- Stories
- 2
- Building stories
- 2
- Levels
- Two
- Entry level
- 1
- Construction
- Stucco
- Roof
- Shingle
- Foundation
- Raised
- Condition
- Repairs Cosmetic
Rooms & interior
- Appliances
- Gas Range
- Flooring
- Carpet, Wood
- Heating
- Wall Furnace
- Cooling
- Wall Window Units
- Fireplace
- None
- Laundry
- Common Area
Exterior & parking
- Total parking spaces
- 16
- Garage spaces
- 0
- Carport spaces
- 12
- Parking
- Assigned
- Pool
- None
- Spa
- None
- Lot features
- Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level
- Lot size source
- Assessor
- Fencing
- None
- Property outlook
- Mountains, Neighborhood
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Utilities
- Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
- Community features
- Suburban, Valley
Fees & lease terms
- Association
- No
- Association fee
- $0.00
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Longfellow (Henry W.) Elementary (school website, opens in a new tab) Pasadena Unified · Pasadena | Not reported | 0.4 mi |
| Charles W. Eliot Middle (school website, opens in a new tab) Pasadena Unified · Altadena | 6–8 | 0.6 mi |
| Altadena Elementary (school website, opens in a new tab) Pasadena Unified · Altadena | K–5 | 0.7 mi |
| Octavia E. Butler Magnet (school website, opens in a new tab) Pasadena Unified · Pasadena | 6–8 | 0.8 mi |
| Washington Elementary STEM Magnet (school website, opens in a new tab) Pasadena Unified · Pasadena | Not reported | 0.9 mi |
| Madison Elementary (school website, opens in a new tab) Pasadena Unified · Pasadena | Not reported | 1.2 mi |
| Thurgood Marshall Secondary (school website, opens in a new tab) Pasadena Unified · Pasadena | 6–12 | 1.4 mi |
| Webster Elementary (school website, opens in a new tab) Pasadena Unified · Pasadena | Not reported | 1.5 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $2,730,000
- MLS-reported original asking price
- $2,730,000
| Observed (UTC) | Asking price |
|---|---|
| Oct 6, 2026 23:58 | $2,730,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
- MLS-reported annual tax (year not provided)
- $30,593
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Pasadena
Active residential homes for sale in Pasadena, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
12 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-08 06:57 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
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Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗