Address
553 Lincoln Avenue Pasadena, CA
Price
$ 1,550,000
Property Attributes
  • MLS#21698020
  • TypeIncome
  • CountyLOS ANGELES
  • CityPasadena
  • AreaPasadena
  • Zip91103
  • StyleCottage
  • Price$ 1,550,000
  • Bedrooms4
  • Full Bathrooms4
  • Half Bathrooms0
  • Lot Size9,572 SqFt
Listing Provided Courtesy Of:
Edward Pan with Colliers International Greater Los Angel.
Data Source:
CRMLS
Property Description

Presented for sale is 553 Lincoln Ave., a 4-Unit multi-family apartment building located just north of Colorado Blvd. in a desirable and dense residential neighborhood of Pasadena. The property consists of two single story buildings with on-site laundry facility, and parking / storage in the rear. The building totals 1,942 rentable square feet situated on an approximately 9,572 square foot rectangular lot. Originally built in 1924,the well maintained cottage style quadraplex has (3) 1BR/1BA units and(1) 2BR/1BA unit, with 100% occupancy. Three out of the four rental units have rental rates below market rate, with updated market rents*, the property has the potential to achieve a 4.11% CAP rate in a highly desirable location. This apartment buildings conveniently located adjacent to Pacific Oaks College of Pasadena, OldTown Pasadena, the Rose Bowl, and Brookside Park. * = Buyer should complete their own due diligence/research on compliance for rental increases.

Price History
2/26/2021 Listed $1,550,000

General Features

Appliances Dishwasher
Architectural Style Cottage
Carport Y/N Yes
Cooling Wall/Window Unit(s)
Facing Direction East
Heating None
Levels One
MLS Area 645 - Pasadena (NW)
Parking Features Detached Carport
Property Type Residential Income
Total Units 4
Zoning PSR3

Interior Features

Air Conditioning Y/N Yes

Exterior Features

Lot Size Acres 0.22
Lot Size Area 9572
Lot Size Source Assessor
Lot Size Square Feet 9572
Lot Size Units Square Feet
Number of Buildings 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91103

Price
AVG $1.31M
$1.55M
Visits
AVG 63
46
Year Built
AVG 1939
1924
Walkscore
AVG 76
87
Data Provided by Walkscore ® not using MLS data

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