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$2,659,000

Beds
Unknown
sq ft
Unknown

481 Lincoln Ave, Pasadena, CA 91103

481 Lincoln Ave

Pasadena, CA 91103

  • 174 days on market
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.

Details

Property type

Apartment

Est. home value

$1,582,277

Lot size

0.2757 acres

Price per sq ft

Unknown

Year built

1903

HOA

No

Price History

07/02/2024
CRMLS

CRMLS #TR24135943

Listed
$2,659,000
+77.27%
08/27/2021
CLAW

CLAW #21766776

Sold
$1,500,000

Schools & Community

Neighborhood: 

West Central

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Suburban

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Jpmorgan Chase Bank Na

Loan start date

January 2022

Original loan amount

$1,285,000

Est. remaining balance

Not provided

Interest rate

3.1%

Loan type

Commercial

Seller

Babco Investments Llc and Kmca Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/22/2024 at 10:15 PM

Listing updated: 12/20/2024 at 1:25 PM

Listed by: Kevin Lee, Berkshire Hathaway HomeServices California Properties Phone #: (562) 945-2221

MLS: CRMLS #TR24135943

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