$ 2,659,000
481 Lincoln Avenue Pasadena, CA 91103
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$ 2,659,000
Est. payment /mo
Active
481 Lincoln Avenue Pasadena, CA 91103
5,061 SqFt
UPDATED:
07/25/2024 09:50 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,061 sqft
Price per Sqft $525
MLS Listing ID CRTR24135943
HOA Y/N No
Year Built 1903
Lot Size 0.276 Acres
Acres 0.28
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 Listing
Zoning PSR3
Interior
Fireplace No
Laundry Inside
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5726010028
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Listed by Kevin Lee • Berkshire Hathaway HomeServices California Properties