About 1157-1165 Lake Avenue
Exceptional value-add investment opportunity in highly desirable Pasadena, ideally located just north of Mountain Street along vibrant Lake Avenue. This 1922 Spanish-style quadruplex features four spacious 2-bedroom, 1-bath units with an attractive unit mix ideal for strong long-term rental demand.Each unit offers generous layouts with timeless architectural charm, including hardwood floors, original built-ins, formal dining rooms, and breakfast nooks. Select system updates include portions of upgraded electrical, copper plumbing plus in-unit laundry hookups that add convenience and tenant appeal.The property includes a large shared backyard, four single-car garages, and significant upside potential for investors seeking to increase value through renovations, rental repositioning, or possible future expansion. Three units are currently tenant-occupied and professionally managed, providing immediate income stability, while one unit will be delivered vacant--creating an excellent opportunity for immediate improvements and market-rate leasing.Zoned PSC, this property offers compelling flexibility and future potential in one of the area's most desirable rental corridors. A rare chance to acquire a character-rich asset with income today and upside for tomorrow.
Features of 1157-1165 Lake Avenue
| MLS® # | P1-27267 |
|---|---|
| Price | $2,400,000 |
| Bedrooms | 8 |
| Bathrooms | 4.00 |
| Acres | 0.48 |
| Type | Residential Income |
| Sub-Type | Res Income 2-4 Units |
| Status | Closed |
Community Information
| Address | 1157-1165 Lake Avenue |
|---|---|
| Area | PASADENA (91104) |
| City | Pasadena |
| County | Los Angeles |
| State | CA |
| Zip Code | 91104 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | N/K |
Interior
| Heating | Wall/Gravity |
|---|---|
| Cooling | Wall/Window |
| Fireplace | Yes |
| Stories | 1 Story |
Exterior
| Construction | Stucco |
|---|
Additional Information
| Date Listed | May 22nd, 2026 |
|---|---|
| Days on Market | 96 |
| Zoning | Assessor |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | BHHS California Properties |
|---|