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$2,659,000
Est. payment /mo
0.28 Acres Lot
UPDATED:
12/20/2024 08:24 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRTR24135943
Originating Board California Regional MLS
Year Built 1903
Lot Size 0.276 Acres
Property 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). With CAP Rate Close to 5% in a 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. BOTH BUILDINGS EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2022. 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.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Interior
Laundry Other
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5726010028
Special Listing Condition Not Applicable
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Listed by Kevin Lee • Berkshire Hathaway HomeServices California Properties
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Sharad Gupta
Broker | License ID: 02213637
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