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    553 Lincoln Ave

    Pasadena, CA 91103
    • $1,550,000
    • STATUS: Active
    • ON SITE: 80 days
    • MLS #: 21-698020
    UPDATED: 51 min ago
    $1,550,000
    • 5
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,942
      SQFT
    • $798
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:
    Area:

    School Ratings & Info

    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.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T17:42:50.547. 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.
    www.desertarealuxuryhomes.com/homes/114535543
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    553 Lincoln Ave Pasadena, CA 91103

    • Price: $1,550,000
    • Status: Active
    • Updated: 51 min ago
    • MLS #: 21-698020
    5
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    1,942
    SQFT
    $798
    $/SQFT
    1924
    Built
    Neighborhood:
    Pasadena Nw
    County:
    Los Angeles
    Area:
    Pasadena Nw
    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.
    Exterior Features

    Direction Faces East Levels One Lot Size Area 9572 Other Structures None Parking Garage Carport Detached Style Cottage Total Parking 4

    Interior Features

    Baths Total 4.00 Common Walls Attached Cooling Air ConditioningWall/Window Equipment Ceiling FanDishwasherGas Or Electric Dryer HookupWasher Heating None Laundry Laundry Area

    Property Features

    Assessed Total Value 480407 Gross Income 74400 Gross Operating Income 73608 Like Units1 3 Like Units2 1 Net Operating Income 46563.00 Number Of Buildings 2 Number Of Units 4 Owner Pays WaterGardenerOther Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 27045 Type Of Units 1BR/2BR Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Psr3

    Listing provided courtesy of Edward Pan DRE#01894476 of Colliers International Greater Los Angel.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T17:42:50.547. 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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