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SOLD 12/31/2020
918 N Lake Avenue, Pasadena, CA 91104
1
bed
1
bath
9104
ft2
· 27487
ft2 lot
$3,250,000
$417 / ft2
Listing provided courtesy of Listing Broker: Maren Impala, Siemienowski & Associates.
Source CRMLS.
Exceptional value-add property, home to the iconic Roma Market! This property has excellent street visibility & sits on the signalized corner of N Lake Ave. & E Mountain St., featuring parking lot access from both streets. The property consists of seven units, 5 of which are retail spaces, plus 2 apartments, both 1 bedroom 1 bath. The 5 retail spaces total 7,875 Sq.Ft. & the 2 residential spaces total 1,229 Sq.Ft for a total of 9,104 Sq.Ft. It sits on a total of 3 lots, totaling 27,487 Sq.Ft. The retail tenants are all long-term tenants with commercial leases expiring in 2021, 2022 and 2023, & the residential leases are month to month. All commercial leases are AIR Commercial Leases, Multi-tenant, Lease-gross. The buildings were built in 1964 & 1968, and are in good condition. They can easily be improved with exterior paint, landscaping & other exterior improvements. Tenants pay for gas & electric. **Property consists of 3 APNs. See attached marketing package.
HOA
$—/month
On market
5 days
Year built
1964
Property type
Multi-Family
Parking
MLS
20652340
Price / Sq.Ft.
$417 / ft2
Status
Closed
Flyhomes Cash Offer
Based on a price of $3,795,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$0
$0
+$738/day
$0
Best
Flyhomes Guaranteed Offer
$18,975
- -
$18,975
Better
Discount Brokerage
$15,060
not offered
$15,060
Average
Traditional Brokerage
$0
not offered
$0
Variable
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Property Details
Interior Features & Layout
Heating & Cooling
•   
Cooling Details: Evaporative Cooling
Interior Size
•   
Building Area Total: 9104.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 0.00
•   
Carport Spaces: 0.00
Lot Info
•   
Zoning: PSC6
•   
Lot Features: Landscaped
•   
Lot Size Source: Other
•   
Lot Size Acres: 0.6300
•   
Lot Size Area: 27487.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 7
Building Info
•   
Roof: Composition
•   
Stories Total: 2
•   
Num Stories: Multi/Split
•   
Construction Materials: Stucco
Utilities & Other Information
Water & Sewer Info
•   
Sewer: Other
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Equity: 3795000
•   
Tenant Pays: Electricity, Gas
•   
Gross Operating Income: 219549.00
•   
Total Actual Rent: 203714.00
•   
Total Expenses: 100748.00
•   
Gross Multiplier: 16.60
Tax/Assessment Info
•   
Gross Income: 226339.00
Lease Info
•   
Net Operating Income: 118801.00
Other
•   
Financial Info As Of: 2020-11-01 00:00:00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 2 Information
•   
Unit 2 Actual Rent: 4253.00
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Total Rent: 4253.00
Unit 3 Information
•   
Unit 3 Actual Rent: 2448.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Total Rent: 2448.00
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 2
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 909.00
•   
Unit 1 Total Rent: 1818.00
Unit 4 Information
•   
Unit 4 Actual Rent: 2430.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 2430.00
Unit 5 Information
•   
Unit 5 Actual Rent: 3412.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 3412.00
Multi Unit Information
•   
# Of Units: 13
•   
Price Per Unit: 542143
Unit 6 Information
•   
Unit 6 Actual Rent: 2613.00
•   
Unit 6 Total Units: 1
•   
Unit 6 Total Rent: 2613.00
•   
Unit 6 Furnished Units: Unfurnished
School Neighborhood & Directions
Location
•   
Directions: Exit N Lake from 210, Go North, corner of N Lake & Mountain St
Other
Calculation
•   
Dom: 6
•   
Cdom: 6
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: May 07, 2021 8:31pm
Neighborhood snapshot
32
Properties for sale
11
Median days on market
$612.16
Median sold price/sqft
107.39%
Sold/List %
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Property History
12/31/2020
12/31/2020
CRMLS #20652340
sold
CRMLS #20652340
$3,795,000
11/15/2020
11/15/2020
CRMLS #20652340
pending
CRMLS #20652340
$3,795,000
11/09/2020
11/09/2020
CRMLS #20652340
active
CRMLS #20652340
$3,795,000
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