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553 Lincoln Avenue, Pasadena, CA 91103
3
beds
2
baths
1942
ft2
· 9572
ft2 lot
$1,550,000
$798 / ft2
Listing provided courtesy of Edward Pan, Colliers International Greater Los Angel.
Source CRMLS.
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.
HOA
$—/month
On market
2 months
Year built
1924
Property type
Multi-Family
Parking
MLS
21698020
Price / Sq.Ft.
$798 / ft2
Status
Active
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Property Details
Interior Features & Layout
Appliances
•   
Appliances: Dishwasher
•   
Has Appliances
Heating & Cooling
•   
Cooling Details: Wall/Window Unit(s)
Interior Size
•   
Building Area Total: 1942.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Detached Carport
Building Info
•   
Zoning: PSR3
•   
Stories Total: 1
•   
Num Stories: One
Lot Info
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.2197
•   
Lot Size Area: 9572.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 4
Property Type
•   
Architectural Style: Cottage
Exterior Features
•   
Direction Faces: East
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 73608.00
•   
Total Expenses: 27045.00
•   
Gross Multiplier: 20.83
Tax/Assessment Info
•   
Gross Income: 74400.00
•   
Tax Year: 2019
•   
Taxes: 6214.0
Lease Info
•   
Net Operating Income: 46563.00
Listing Info
•   
Status: Active
Multi Unit Information
Unit 2 Information
•   
Unit 2 Actual Rent: 1900.00
•   
Unit 2 Bedrooms: 2
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 1
•   
Unit 2 Total Rent: 1900.00
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 3
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1433.00
•   
Unit 1 Total Rent: 4300.00
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
School Info
•   
Directions: Just south of the intersection of N. Orange Grove Blvd. and Lincoln Ave. in Pasadena.
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 20, 2021 12:04am
Neighborhood snapshot
41
Properties for sale
13
Median days on market
$597.42
Median sold price/sqft
105.83%
Sold/List %
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Property History
02/25/2021
02/25/2021
CRMLS #21698020
active
CRMLS #21698020
$1,550,000
+400.00%
04/12/2005
04/12/2005
Public Record
sold
Public Record
$310,000
04/13/2000
04/13/2000
Public Record
sold
Public Record
$310,000
+102.61%
10/19/1999
10/19/1999
Public Record
sold
Public Record
$153,000
--27.38%
01/31/1999
01/31/1999
Public Record
sold
Public Record
$210,692
--0.62%
See more property history
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