Search
1562 N Lake Ave, Pasadena, CA 91104
View Photos

1562 N Lake Ave Pasadena, CA 91104

$1,305,000 Sold Price as of 12/02/2020
  • 7 Beds
  • 6 Baths
  • 3,793 Sq.Ft.
Sold
$1,305,000 Sold Price as of 12/02/2020 Refinance Your Mortgage
Map preview of 1562 N Lake Ave, Pasadena, CA 91104

Property Overview: 1562 N Lake Ave Pasadena, CA has 7 bedrooms, 6 bathrooms, 3,793 living square feet and 11,936 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Rare 4 unit residential income property in desirable north Pasadena. Long time owner (Property has not been on the market since 1996!!) Owner is currently living in front 2B+2B unit which can be delivered vacant. Ideal mix of 2 bedroom and 1 bedroom units. Building Size is 3,793 SF with oversized lot of 11,936 SF. Recent improvements have been made to the property: new paint on 1562, new landscaping, new roof on front porch and 2 window sections. Past upgrades: complete interior remodel, cooper plumbing, new electrical wiring, recess lighting, new windows, remodeled kitchen open floor plan, granite countertops, new cabinets and appliances, remodeled bathrooms, wood floors throughout, added rear patio room. Storage room can be converted to laundry room for 1st floor tenants by adding laundry machines to collect additional income.

Listed by Donald La | BRE #01928418 | KW Executive
Last checked: 10 minutes ago | Last updated: December 8th, 2022 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
11,936
HOA Dues
$0/mo
Year built
1907
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
WS20234758
City
Pasadena
County
Los Angeles
Time on Site
1410 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 4
  • # of Electric Meters: 3
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $850
  • Total Rent: $850
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.19%
  • Gross Rent Multiplier: 16.23
  • Gross Scheduled Income: $79,800
  • Net Operating Income: $54,273
  • Gross Operating Income: --
  • Vacancy Allowance: $1,596
Annual Expense Breakdown
  • Total Operating Expense: $23,931
  • Electric: $825
  • Gas/Fuel: $0
  • New Taxes: $13,338
  • Trash: $0
  • Gardener: $2,040
  • Insurance: $2,918
  • Maintenance: $3,600
  • Water/Sewer: $1,210

Property Details for 1562 N Lake Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Individual Room, Washer Hookup
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: 2-5 Units/Acre, Lot 10000-19999 Sqft
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 5848033007
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Drive north on Lake Ave. Between E Howard St and E Elizabeth St
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Pasadena Agent

Sale History for 1562 N Lake Ave

Last leased for $2,500 on December 8th, 2022

  • December, 2022

  • Dec 8, 2022

    Date

    Leased

    CRMLS: WS22229386

    $2,500

    Price

  • Oct 27, 2022

    Date

    Active

    CRMLS: WS22229386

    $2,700

    Price

  • Listing provided courtesy of CRMLS

    Beautiful, private 2bed/2bath upstairs unit with 1-car carport parking in Pasadena. Appliances included: stove, oven, and microwave. In unit washer and dryer. Fireplace in the living room. Open floor plan with a large and spacious living room. Perfect location: easy access to restaurants, shopping, grocery stores, freeway access to the 134. Close to JPL, Caltech, old town Pasadena, and much more!

  • August, 2021

  • Aug 25, 2021

    Date

    Leased

    CRMLS: WS21172291

    $3,300

    Price

  • Aug 23, 2021

    Date

    Pending

    CRMLS: WS21172291

    $3,300

    Price

  • Aug 12, 2021

    Date

    Price Change

    CRMLS: WS21172291

    $3,300

    Price

  • Aug 5, 2021

    Date

    Active

    CRMLS: WS21172291

    $3,500

    Price

  • Listing provided courtesy of CRMLS

    Beautiful and charming 2bed+bonus room/2bath front house & 2-car carport parking in Pasadena. Bonus room that could be used as a 3rd bedroom, office, or den. Accept 1 small pet under 25 lbs with additional pet deposit. This house is freshly remodeled with updated bathrooms, recessed lighting, and a gourmet kitchen with full appliances included: new oven, stove, microwave, dishwasher and range hood. New paint and doorknobs throughout. Open floor plan. New washer and dryer in the unit. Newly installed central air-conditioning and heating system. New mini blinds. Many other upgrades. Perfect location: easy access to restaurants, shopping, groceries, freeway access to the 134. Close to JPL, Caltech, old town Pasadena, and much more! View our virtual tour here: https://mls.ricohtours.com/f8ccfb76-79ad-475f-b2b0-222fc19164ff.

  • December, 2020

  • Dec 3, 2020

    Date

    Sold

    CRMLS: WS20234758

    $1,305,000

    Price

  • Nov 18, 2020

    Date

    Pending

    CRMLS: WS20234758

    $1,295,000

    Price

  • Nov 9, 2020

    Date

    Active

    CRMLS: WS20234758

    $1,295,000

    Price

  • December, 2020

  • Dec 2, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,305,000

    Price

  • December, 2020

  • Dec 2, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1562 N Lake Ave

Assessed Value (2020): $303,309
Year Land Value Improved Value Assessed Value
2020 $207,539 $95,770 $303,309

Home Value Compared to the Market

This property vs the competition

1562 N Lake Ave sold on December 2, 2020 for 7.92% higher than the current median sold price for the city of Pasadena which is $1,200,000. The median sold price per/sqft for Pasadena is $781 and this home is sold at $341.42 per/sqft which puts the price per square foot 56.28% lower than the current median sale per square foot for the city of Pasadena.

About 1562 N Lake Ave

Detailed summary of property

1562 N Lake Ave is a multi family that recently sold in Pasadena, CA 91104. This multi family property offered 7 bedrooms, 6 bathrooms, roughly 3,793 living square feet, and sits on an approximately 11,936 square foot lot. 1562 N Lake Ave was first listed on ArdentRealEstateGroup.com on November 9, 2020. The homeowner sold the property for $1,305,000. Home in Pasadena are selling for a median price of $1,200,000 and a median price per square foot of $781. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 7.92% higher than the current median priced home. Local homes that are currently for sale include 424 N Craig Ave, 292 N Craig Ave and 617 S Oak Knoll Ave. While the average home in Pasadena, CA is selling in 56 days, 1562 N Lake Ave has a days on market of 8 days. There are currently 335 homes for sale in the Pasadena real estate market and 179 of them are single family homes while 119 of them are condos and 37 are townhomes. For more information on this home for sale at 1562 N Lake Ave Pasadena, CA 91104 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 1562 N Lake Ave

Public county record property details
Beds
8
Baths
5
Year built
1907
Sq. Ft.
3,793
Lot Size
11,935
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
5848-033-007

The source for these homes facts are from public records.

91104 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,395,000
Median List Price/Sq.Ft.
$795
Median Sold Price
$1,200,000
Median Sold Price/Sq.Ft.
$915
Total Inventory
36
Median Sale to List Price %
114.39%
Avg Days on Market
21
Loan Type
Conventional (42.86%), FHA (0%), VA (0%), Cash (14.29%), Other (28.57%)

Thinking of Selling?

Image Description
Is this your property?
Thinking of Selling?
Call, Text or Message
(714) 706-1823

Homes for Sale Near 1562 N Lake Ave

Nearby Homes for Sale

1399-1401 N Bresee Ave, Pasadena, CA 91104
$1,300,000
0 Beds
0 Baths
2921 Sq.Ft.
1399-1401 N Bresee Ave
Pasadena, CA 91104
1743 N Oxford Ave, Pasadena, CA 91104
$1,250,000
3 Beds
3 Baths
1711 Sq.Ft.
1743 N Oxford Ave
Pasadena, CA 91104
895 N Euclid Ave, Pasadena, CA 91104
$1,200,000
8 Beds
5 Baths
3445 Sq.Ft.
895 N Euclid Ave
Pasadena, CA 91104
643 N Wilson Ave, Pasadena, CA 91106
$1,450,000
5 Beds
2 Baths
2262 Sq.Ft.
643 N Wilson Ave
Pasadena, CA 91106
643 N Wilson Ave, Pasadena, CA 91106
$1,450,000
5 Beds
3 Baths
2262 Sq.Ft.
643 N Wilson Ave
Pasadena, CA 91106
1860 N Summit Ave, Pasadena, CA 91103
$1,249,999
3 Beds
2 Baths
1800 Sq.Ft.
1860 N Summit Ave
Pasadena, CA 91103
130 E Washington Blvd, Pasadena, CA 91103
$1,400,000
45 Beds
25 Baths
3901 Sq.Ft.
130 E Washington Blvd
Pasadena, CA 91103
110 E Washington Blvd, Pasadena, CA 91103
$1,300,000
7 Beds
4 Baths
2730 Sq.Ft.
110 E Washington Blvd
Pasadena, CA 91103
709-713 E Villa St, Pasadena, CA 91101
$1,488,000
3 Beds
3 Baths
-- Sq.Ft.
709-713 E Villa St
Pasadena, CA 91101
1821 E Woodbury Rd, Pasadena, CA 91104
$1,295,000
7 Beds
6 Baths
3276 Sq.Ft.
1821 E Woodbury Rd
Pasadena, CA 91104
314 N Holliston Ave, Pasadena, CA 91106
$1,399,000
3 Beds
1 Baths
2510 Sq.Ft.
314 N Holliston Ave
Pasadena, CA 91106
1758 Lincoln Ave, Pasadena, CA 91103
$1,295,000
4 Beds
3 Baths
2080 Sq.Ft.
1758 Lincoln Ave
Pasadena, CA 91103

Recently Sold Homes Near 1562 N Lake Ave

1550 N Lake Ave, Pasadena, CA 91104
$1,800,000 Last Sold Price
3 Beds
176 Baths
-- Sq.Ft.
1550 N Lake Ave
Pasadena, CA 91104
849 E Howard St, Pasadena, CA 91104
$925,000 Last Sold Price
2 Beds
2 Baths
2550 Sq.Ft.
849 E Howard St
Pasadena, CA 91104
874 E Ladera St, Pasadena, CA 91104
$1,150,000 Last Sold Price
3 Beds
3 Baths
2098 Sq.Ft.
874 E Ladera St
Pasadena, CA 91104
1715-1717 N Lake Ave, Pasadena, CA 91104
$1,200,000 Last Sold Price
8 Beds
6 Baths
2399 Sq.Ft.
1715-1717 N Lake Ave
Pasadena, CA 91104

Related Resources to 1562 N Lake Ave

New Listings in 91104
Popular Zip Codes
Popular Cities
Other Pasadena Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Refi Quote