CA > Pasadena
Pasadena, CA 91103,481 Lincoln AVE
Pasadena, CA 91103,481 Lincoln AVE
Pasadena, CA 91103,481 Lincoln AVE
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$2,659,000
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5,061 SqFt
Active

481 Lincoln AVE Pasadena, CA 91103

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UPDATED:

09/30/2024 06:49 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,061 sqft

Price per Sqft $525

MLS Listing ID TR24135943

HOA Y/N No

Year Built 1903

Lot Size 0.276 Acres

Property Description

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 FA�ADE 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.

Location

State CA

County Los Angeles

Area 645 - Pasadena (Nw)

Zoning PSR3

Rooms

Ensuite Laundry Inside

Interior

Laundry Location Inside

Fireplace No

Laundry Inside

Exterior

Pool None

Community Features Suburban

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5726010028

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

California Regional MLS (CRMLS)
Listed by Kevin Lee • Berkshire Hathaway HomeServices California Properties • 626-975-2521

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481 Lincoln AVE

 
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