1104 N Lake AvenuePasadena, CA 91104

REDEVELOPMENT OPPORTUNITY: Here is a rare opportunity to acquire a prime infill site in the heart of the newly adopted North Lake Specific Plan (NLSP). Located at 1104 N. Lake Ave, this 8,618 SF parcel sits within the high-growth Washington Place subarea, designated for Washington Mixed-Use (NLSP-WMU). This zoning is a cornerstone of Pasadena's 'Great Streets' initiative, designed to transform this corridor into a vibrant, pedestrian-first urban village.The site currently features a well-maintained 3-unit residential with a 4th non-conforming dwelling, providing immediate cash flow during the entitlement process. The true value lies in the Maximum Build-Out Potential. Under current NLSP standards, the site supports a base density of 48 units per acre (approx. 10 units). By utilizing the State Density Bonus (AB 1287/SB 1818), developers can achieve an estimated 15-20 units with a 4-story 'Wedding Cake' structure. Boasting a 'Very Walkable' score, the site is steps from Washington Park, the historic Bungalow Heaven district, and the thriving retail nodes of Washington Blvd. It serves as a critical link to the Metro A Line (Lake Station), making it a 'Transit-Priority Area' (TPA) that qualifies for significant parking reductions and expedited CEQA processing.Position your portfolio