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Dion Stallberg

dion@ocexcelgroup.com +1(949) 690-4106

$ 1,250,000

Est. payment | -/mo

8,611 Sqft Lot

Save

$ 1,250,000

Est. payment | -/mo

Save

8,611 Sqft Lot

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-26233

Construction Status Repairs Cosmetic

HOA Y/N No

Year Built 1951

Annual Tax Amount $11,132

Lot Size 8,611 Sqft

Lot Dimensions Assessor

Property Sub-Type Mixed Use

Property Description

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). Located at 1104 N. Lake Ave, this 8,618 SF parcel sits within the high-growth Washington Place subarea, designated for Washington Mixed-Use (NLSP-WMU). This zoning is a cornerstone of Pasadena's 'Great Streets' initiative, designed to transform this corridor into a vibrant, pedestrian-first urban village.The site currently features a well-maintained 3-unit residential with a 4th non-conforming dwelling, 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. 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.

Location

State CA

County Los Angeles

Area 646 - Pasadena (Ne)

Building/Complex Name Washington Park

Zoning PSC -NLSP

Rooms

Other Rooms Storage

Interior

Interior Features All Bedrooms Down

Heating Natural Gas

Cooling Wall/Window Unit(s)

Flooring Carpet, Tile, Wood

Fireplaces Type None

Fireplace No

Appliance Gas Range, Refrigerator, Water Heater, Dryer

Laundry Common Area, Laundry Room, See Remarks

Exterior

Exterior Feature Awning(s)

Parking Features Assigned, Driveway, Paved

Fence Fair Condition, Wood

Pool None

Community Features Biking, Curbs, Street Lights, Sidewalks, Park

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Shingle

Accessibility Parking

Total Parking Spaces 6

Private Pool No

Building

Lot Description Landscaped, Near Park, Near Public Transit, Sprinklers None, Sloped Up, Walkstreet

Faces West

Story 1

Entry Level One

Foundation Raised

Sewer Public Sewer, Sewer Tap Paid

Water Public

Architectural Style Mid-Century Modern

Level or Stories One

Additional Building Storage

Construction Status Repairs Cosmetic

Others

Senior Community No

Tax ID 5740014005

Energy Description 1919.0

Acceptable Financing 1031 Exchange, Submit

Listing Terms 1031 Exchange, Submit

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Baron Castillo Apartment Building Investments #00646611

NEARBY SCHOOL & BUSINESS

+1(949) 690-4106

dion@ocexcelgroup.com

344 3rd St, Beach, CA, 92651, United States

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1104 N Lake AVE Pasadena, CA 91104