610-618 S Lake Ave - Storefront Retail/Residential FOR SALE


Pasadena, CA 91106
$3,088,000 USD
310-564-6944
610-618 S Lake Ave, Pasadena, CA for Sale
$3,088,000 USD
Storefront Retail/Residential - FOR SALE
1/12
null | 4.08% Cap Rate

610-618 S Lake Ave
Pasadena, CA 91106


HIGHLIGHTS

  • Prime Location - Situated in a coveted Pasadena enclave, steps from South Lake Shopping District, Old Town Pasadena, Caltech, and PCC.
  • Affluent Demographic: average over $150,000 income in 1 mile radius
  • Turnkey Opportunity: Fully occupied with minimal historical vacancies, offering immediate income potential.
  • Dual Revenue Streams: Combines residential and commercial income with additional parking revenue.
  • High-Demand Location: Proximity to premier amenities, top schools, and major freeways drives tenant demand and property value.
  • Rare Market Offering: A unique chance to own a luxury mixed-use property in one of Pasadena’s most exclusive neighborhoods.

OVERVIEW

**Prime Pasadena Investment Opportunity** This distinguished (5) five-unit property, located in one of Pasadena’s most prestigious neighborhoods, offers a rare blend of luxury, stability, and investment potential. Nestled just moments from the upscale South Lake Shopping District, historic Old Town Pasadena, Caltech, and PCC, this 4,668 sq ft residential and commercial property sits on a spacious 10,736 sq ft lot. With seamless access to the 110 and 210 freeways and premier public transit, this turnkey offering combines timeless elegance with exceptional convenience. Prime Location - Situated in a coveted Pasadena enclave, steps from South Lake Shopping District, Old Town Pasadena, Caltech, and PCC. Mixed-Use Asset - Includes a luxury commercial salon at 610 South Lake Avenue and a well-maintained four-unit residential building at 612-618 South Lake Avenue. Spacious Owner’s Unit - 1,800+ sq ft featuring 3 bedrooms, 2 bathrooms, a grand fireplace in the living room, and a formal dining area ideal for entertaining. Additional Residential Units - Two stylish 1-bedroom, 1-bath apartments and a sleek studio, all designed for modern living. Income-Generating Parking - Three private garages two leased and nine additional parking spaces for consistent revenue. Lush Landscaping - Beautifully manicured grounds enhance curb appeal and tenant satisfaction. Full Occupancy - Historically low vacancy rates ensure stable cash flow. Yearly Gross Income of $178,548 This property represents an unparalleled investment in a high-demand market, blending sophistication, convenience, and strong financials.

FOR SALE DETAILS

PRICE

$3,088,000 USD

PRICE/SF

$662 USD /SF

CAP RATE

4.08%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,738 SF

ZONING

PSC-

APN/PARCEL ID

5327-020-012

ASK ABOUT THIS PROPERTY

Dean VagenasGoldstone GroupMore Info
310-564-6944

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Dean VagenasGoldstone GroupMore Info
310-564-6944

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.