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934 N Lake Ave Pasadena, CA 91104

$1,433,000 Sold Price as of 02/08/2021

7 Beds
6 Baths
3,696 Sq.Ft.

Sold

$1,433,000 Sold Price as of 02/08/2021 Refinance Your Mortgage

Map preview of 934 N Lake Ave, Pasadena, CA 91104

Property Overview: 934 N Lake Ave Pasadena, CA has 7 bedrooms, 6 bathrooms, 3,696 living square feet and 9,247 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are proud to present these 6 units located at 934 N Lake Avenue in Pasadena, California. Built in 1953, the property sits on 9,247 square feet of land with 3,696 square feet of rentable area and consists of (5) 1-Bed/1-Bath and (1) 2-Bed/1-Bath units. The property offers investors the possibility to renovate all the units and capture the significant upside in rents. Unit #2, which was the owner's unit, will be delivered vacant at the close of escrow. Although the rents are significantly below market, the property is well maintained with no significant deferred maintenance, including the fact that this property does not need seismic retrofitting. Additionally, each unit has above average size floor plans, and each unit has their own water heater.

Listed by Filip Niculete | BRE #01905352 | Marcus & Millichap

Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 109

Home details

Lot Sq. Ft: 9,247
HOA Dues: $0/mo
Year built: 1953
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20644230
City: Pasadena
County: Los Angeles
Time on Site: 1441 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,100
Total Rent: $1,100
Pro Forma/Market Rent: $1,800

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $1,800
Pro Forma/Market Rent: $1,800

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,000
Total Rent: $1,000
Pro Forma/Market Rent: $1,800

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,000
Total Rent: $1,000
Pro Forma/Market Rent: $1,800

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,000
Total Rent: $1,000
Pro Forma/Market Rent: $1,800

Unit Breakdown 6

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,200
Total Rent: $1,200
Pro Forma/Market Rent: $2,200

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 19.37
Gross Scheduled Income: --
Net Operating Income: $46,105
Gross Operating Income: $84,084

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 934 N Lake Ave

Lot Details / Garage and Parking

Parking/Garage Information

No
Parking Features: None

Property Information

Total # of Units: 6
Parcel Number: 5740016003

Location / Neighborhood

Location Information

Directions: N Lake & E Mountain

View more facts & features

Local Pasadena Agent

Sale History for 934 N Lake Ave

Last sold for $1,433,000 on February 8th, 2021

February, 2021
Feb 9, 2021

Date

Sold

CRMLS: 20644230

$1,433,000

Price
Jan 26, 2021

Date

Pending

CRMLS: 20644230

$1,650,000

Price
Oct 9, 2020

Date

Active

CRMLS: 20644230

$1,650,000

Price
February, 2021
Feb 5, 2021

Date

Sold (Public Records)

Public Records

$1,433,000

Price

Tax History for 934 N Lake Ave

Assessed Value (2020): $350,747

Year	Land Value	Improved Value	Assessed Value
2020	$189,433	$161,314	$350,747

Home Value Compared to the Market

This property vs the competition

934 N Lake Ave sold on February 8, 2021 for 37.5% 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 $446.43 per/sqft which puts the price per square foot 42.84% lower than the current median sale per square foot for the city of Pasadena.

About 934 N Lake Ave

Detailed summary of property

934 N Lake Ave is a multi family that recently sold in Pasadena, CA 91104. This multi family property offered 7 bedrooms, 6 bathrooms, roughly 3,696 living square feet, and sits on an approximately 9,247 square foot lot. 934 N Lake Ave was first listed on ArdentRealEstateGroup.com on October 9, 2020. The homeowner sold the property for $1,433,000. 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 37.5% higher than the current median priced home. Local homes that are currently for sale include 1821 E Woodbury Rd, 617 S Oak Knoll Ave and 292 N Craig Ave. While the average home in Pasadena, CA is selling in 56 days, 934 N Lake Ave has a days on market of 109 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 934 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 934 N Lake Ave

Public county record property details

Beds: --
Baths: --
Year built: 1953
Sq. Ft.: 3,696
Lot Size: 9,247
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 3
APN: 5740-016-003

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

Median Sale to List Price %

114.39%

Avg Days on Market

Loan Type

Conventional (42.86%), FHA (0%), VA (0%), Cash (14.29%), Other (28.57%)

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(714) 706-1823

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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.