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$2,659,000
174 Days On Site

481 Lincoln Avenue
Pasadena, CA91103

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
5,061
SqFt
$525
/SqFt
1903
Built
County:
Los Angeles
Listed by Kevin Lee of Berkshire Hathaway HomeServices California Properties [email protected]

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481 Lincoln Avenue481 Lincoln Avenue481 Lincoln Avenue481 Lincoln Avenue
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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 FAÇADE 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.

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Listing Snapshot
Price 
$2,659,000
Days On Site 
174 Days
Bedrooms 
N/A
Inside Area (SqFt) 
5,061 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.2757 Acres
Year Built 
1903
MLS® Number 
TR24135943
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
6 months agoStatus changed to Active
6 months agoListing updated with changes from the MLS®
6 months agoListing first seen on site
General Features
Acres 
0.2757
Number Of Stories 
2
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
5061
Stories 
Two
Water Source 
Public
Zoning 
PSR3
Interior Features
Laundry Features 
Inside
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Exterior Features
Lot Features 
Corner Lot
Pool Features 
None
Community Features
Building Access 
Front
Community Features 
Suburban
Financing Terms Available 
CashConventional1031 Exchange
MLS Area 
645 - Pasadena (NW)


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. The 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.

Neighborhood & Commute
Source: Walkscore
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