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    553 Lincoln Avenue

    Pasadena, CA 91103
    • $1,550,000
    • STATUS: Active
    • ON SITE: 77 days
    • ID#: 21698020
    UPDATED: 139 min ago
    $1,550,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,942
      SQFT
    • $798
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    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 California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
    www.necolrealty.com/homes/114537815
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    553 Lincoln Avenue Pasadena, CA 91103

    • Price: $1,550,000
    • Status: Active
    • Updated: 139 min ago
    • ID#: 21698020
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    1,942
    SQFT
    $798
    $/SQFT
    1924
    Built
    Neighborhood:
    645 - Pasadena (NW)
    County:
    Los Angeles
    Area:
    645 - 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

    Architectural Style Cottage Carport YN Yes Direction Faces East Parking Features Detached Carport

    Interior Features

    Appliances Dishwasher Cooling Wall/Window Unit(S) Cooling YN Yes Heating None Heating YN No

    Property Features

    Gross Income 74400 Levels One Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 46563 Senior Community YN No Special Listing Conditions Standard Zoning Psr3

    Listing provided courtesy of Edward Pan of Colliers International Greater Los Angel


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
     
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