481 Lincoln Avenue, Pasadena CA, 91103

Active

481 Lincoln Avenue

Pasadena CA, 91103

$2,659,000

$525.39 per sqft

Active

5,061 sqft

Condos

Built in 1903

Listed by Kevin Lee with Berkshire Hathaway HomeServices California Properties 626-975-2521

481 Lincoln Ave., Pasadena is a turnkey and upgraded 7 units apartment complex (Unit mix: 4x 1 Bed+1 Bath, 1x 2 Bed+1 Bath, 2x 2 Bed+2 Baths). With CAP Rate Close to 5% in a Class-A Location, and 100% OCCUPIED. ASSUMABLE EXISTING LOAN AT 3.83% UNTIL FEBRUARY, 2029!!!! 2 story building was built in 1903 and single story building was built in 1952. BOTH BUILDINGS EXTERIOR FACADE WERE FULLY RENOVATED AND UPGRADED IN 2022. 5 out of 7 units were also upgraded with New Paint, Kitchen, Bathroom, Flooring. Updated Roof, New Electrical Main Panels and Subpanels. New Plumbing. New Windows. New Driveway Entrance. Each unit is individually metered for electricity and gas. Parking is provided by 5 open spaces between 2 buildings.
The property is situated on a large corner lot of approximately 12,011 SF lot size. Great value-add opportunity for a short or long-term investment. The property is in a highly desirable centrally located neighborhood and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

TR24135943

MLSⓇ ID

July 2, 2024

Listed

October 20, 2024

Updated

Map

481 Lincoln Avenue
Pasadena CA, 91103

Interior Features

Total Stories: 2
Laundry Description: Inside
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.28 Acres
Lot Features: Corner Lot
Sewer: Public Sewer

Other Property Details

Area Name: 645 - Pasadena (NW)
Days on Market: 42
Garage: No
Parking Total: 0
View: No
County: Los Angeles
Water Source: Public
Pool: No
Pool Features: None
Zoning: PSR3

Listing Contact: 562-945-2221

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/20/2024. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 10/20/2024 at 2:47 PM UTC