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481 Lincoln Ave
For Sale $2,659,000
$2,659,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 12,011 Sq Ft
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). 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. 2 STORY BUILDING EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2021. 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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,659,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1903 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 5726010028 |
| MLS # | TR24135943 |
| Property ID | 294242058 |
| Lot Sqft | 12,011 |
| Zoning | PSR3 |
| Total Units | 7 |
| Days on Market | 574 |
| Original List Price | $2,659,000 |
| Date Updated | December 24, 2025 |
| Date Created | July 01, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 2.00 | $2,300 | $2,500 |
| Unit #2 | 1 | 1.00 | $1,300 | $1,700 |
| Unit #3 | 1 | 1.00 | $1,300 | $1,700 |
| Unit #4 | 2 | 2.00 | $0 | $2,200 |
| Unit #5 | 1 | 1.00 | $0 | $1,800 |
| Unit #6 | 1 | 1.00 | $0 | $1,800 |
| Net Income (Yr) | $ 125,519 |
| Cap Rate | 4.72% |
Listing Provided By
Kevin Lee an agent of . Lic #01720786
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of December 24, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT