1157 1165 Lake Avenue, Pasadena, CA 91104

About this fourplex

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.

Listing description from the August 2026 sale, as reported to CRMLS.

Sale history

$2,275,000

Sold August 2026 · listed $2,400,000, on market May 2026 · MLS #P1-27267 · Source: CRMLS

Listing Agent: Giusy Mele-Brown · Listing Office: BHHS California Properties · Contact: (626) 440-5100 · Bought with: Sokrat Arzumanyan · Beverly & Company Luxury Properties

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