481 Lincoln Ave Pasadena, CA 91103
Northwest Pasadena NeighborhoodEstimated payment $16,591/month
Highlights
- Corner Lot
- No HOA
- Laundry Room
About This Home
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. 2 STORY BUILDING EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2021. 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.
Listing Agent
Coldwell Banker Envision Brokerage Phone: 626-975-2521 License #01720786 Listed on: 07/02/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1903
Lot Details
- 0.28 Acre Lot
- Two or More Common Walls
- Corner Lot
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,061 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 10 Bedrooms
- 9 Bathrooms
Location
- Suburban Location
Listing and Financial Details
- Tax Lot 16
- Tax Tract Number 4619
- Assessor Parcel Number 5726010028
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 7 Units
Building Details
- 7 Leased Units
- Rent Control
- 8 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,676
- Gardener Expense $960
- Insurance Expense $9,491
- Maintenance Expense $2,500
- Trash Expense $5,436
- Water Sewer Expense $2,492
- New Taxes Expense $28,237
- Operating Expense $50,792
- Gross Income $181,764
- Net Operating Income $125,519
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/02/2024 07/02/24 | For Sale | $2,659,000 | +77.3% | $525 / Sq Ft | |
| 08/27/2021 08/27/21 | Sold | $1,500,000 | -14.3% | $322 / Sq Ft | View Prior Sale |
| 08/14/2021 08/14/21 | Pending | -- | -- | -- | |
| 07/28/2021 07/28/21 | For Sale | $1,750,000 | -- | $376 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: TR24135943
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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