481 Lincoln Avenue Pasadena, CA 91103
0 bath / 5,061 Sq. Ft. / 12,009 Sq. Ft., 0.276 acres lot size / Apartment
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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 FAADE 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.
property details
Type
Apartment
Status
Active
County
Los Angeles
Year Built
1903
Sq. Ft.
5,061
Lot Size
12,009 Sq. Ft., 0.3 acres
Listing Id
TR24135943
Courtesy Of
Kevin Lee - Berkshire Hathaway HomeServices California Properties 626-975-2521
List Office Phone
+1 (562) 945-2221
Interior Features
Living Area Units
Sq. Ft.
Exterior Features
Lot/Land Description
Corner Lot
Stories
2
Utility & Building Info
Sewer
Public Sewer
Parcel Number
5726010028
Water Source
Public
Building Area Total
5,061 Sq. Ft.
Price Per Sq Ft
$525
Architectural Style
2 Story
Price History
| date | event | price | source |
|---|---|---|---|
|
07/02/2024
07/02/2024
|
Active |
$2,659,000
|
CA Regional MLS (CRMLS) |
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Market Trends
Source: Constellation1
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