481 Lincoln Avenue, Pasadena, California, 91103
$2,659,000
Other
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). 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.
Sewer: Public Sewer
Water Source: Public
Lot Features: Corner Lot
Number Of Buildings: 2
Parcel Identification Number: 5726010028
Year Built Source: Assessor
Common Walls: 2+ Common Walls
Laundry Features: Inside
Laundry: Has Laundry
Zoning: PSR3
MLSAreaMajor: 645 - Pasadena (NW)
Street Address: 481 Lincoln Avenue
City: Pasadena
State: California
Postal Code: 91103
County: Los Angeles
MLS Number: TR24135943
Year Built: 1903
Courtesy of Berkshire Hathaway HomeServices California Properties
Courtesy of COMPASS
