Property Details: This investment opportunity comprises two parcels of land totaling 24,744 square feet. The current development on these parcels includes: Parcel 1: A 9-unit apartment complex featuring a mix of 6 one-bedroom and 3 two-bedroom units. Additionally, this parcel boasts three 2-car garages and on-site laundry facilities. Parcel 2: Positioned to the north, this parcel includes a single-family residence at the rear of the property with a detached garage conversion. Notably, the front portion of this parcel offers ample parking space for up to 18 vehicles and a site for development. Opportunity 1: Expansion and Conversion: The prospective investor can explore the possibility of adding additional units to the parking area. Additionally, there exists the potential to convert the current garages into income-generating units, thereby maximizing the revenue potential of the property. Opportunity 2-A new development of low income housing for Senior citizens or… Alternatively, investors may opt to embark on a new development project encompassing both parcels. This comprehensive approach allows for the creation of a fresh, integrated development plan spanning across the entire property. Importantly, rental income from the existing structures can be sustained throughout the planning and entitlement phase of the new development, ensuring financial stability and flexibility.
Property Details
Property Features
Property Information:
Year Built: 1940
Stories: 2
Listing Office:
Office Name: Sotheby's International Realty
Office Phone: (626) 688-9890
Listing Agent: John Fredrickson
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 22 spaces
Parking: Assigned
Lot Features
Lot Information:
Lot: Near Public Transit
Lot Size: 0.57 Acres
Utilities
Utilities Information:
Cooling: Wall/Window Unit(s)
Other
Directions Information:
Directions: Between New York and Mendocino
Price Information
Listing Price Info
Price Summary:
List Price: $3,750,000
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Altadena, CA.
This property is $2.3M more than the Median Sold Price in Altadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #PF24148851
Listing Office:
Office Name: Sotheby's International Realty
Office Phone: (626) 688-9890
Listing Agent: John Fredrickson
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/17/2024, 8:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$18.7K
Per Month
Principal & Interest
$18.7K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$11.3K
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
Altadena Arts Magnet
743 E Calaveras St
Distance between this listing and this school1.32 miles
Public District Grades PK-5
7
/10
Aveson School of Leaders
1919 Pinecrest Dr
Distance between this listing and this school1.36 miles
Public Charter Grades KG-5
5
/10
Jackson STEM Magnet
593 W Woodbury Rd
Distance between this listing and this school2.32 miles
Public District Grades PK-5
Nearby Schools
7
/10
Pasadena Rosebud Academy
3544 Canon Blvd
Distance between this listing and this school0.24 miles
Public Charter Grades KG-8
3
/10
Alma Fuerte Public
119 W Palm St
Distance between this listing and this school1.10 miles
Public Charter Grades KG-8
4
/10
Charles W. Eliot Arts Magnet Academy
2184 Lake Ave
Distance between this listing and this school1.44 miles
Public District Grades 6-8
Nearby Schools
5
/10
Aveson Global Leadership Academy
575 W Altadena Dr
Distance between this listing and this school1.61 miles
Public Charter Grades 6-12
5
/10
John Muir High School
1905 Lincoln Ave
Distance between this listing and this school2.43 miles
Public District Grades 9-12
9
/10
La Canada High School
4463 Oak Grove Dr
Distance between this listing and this school2.85 miles
The neighbors living near this home have an average income of $94,975. Most Altadena, CA residents have annual incomes between $35k-100k. The majority of families are single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 20582068 N Lake Ave
What is the listing price of this property?
The listing price of 20582068 N Lake Ave property is $3,750,000.
What type of property is this?
The property 20582068 N Lake Ave is a condo located in Altadena, California, 91001.
Is this property for sale now?
Active Listing: 20582068 N Lake Ave is For Sale (Active/New) which means the seller is accepting offers.
Which year was this property built?
The year of construction for 20582068 N Lake Ave is 1940.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 20582068 N Lake Ave in Altadena, CA and zip code 91001 in the The Verdugos neighborhood. This home, which was built in 1940, sits on a 0.57 acre lot. It has been listed on Rocket Homes since July 19, 2024 and is currently priced at $3,750,000.
In October 2024 more than 18 listings in Altadena, CA were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 7 were sold below. Between September 2024 and October 2024, Altadena, CA real estate market has seen increase in the number of listings by 7.6%. In October 2024 median list price was $1,400,000 and the average listing age was 24 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Skiing/snowboarding
Skiing/snowboarding
Hiking/backpacking
PGA/LPGA
Nordstrom
Nordstrom Rack
Chico's
California Pizza Kitchen
Chipotle
Bonefish Grill
BMW
Mazda
Cadillac
Talk/Personality
Rock
Classical