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553 Lincoln Avenue

Pasadena, CA 91103

$1,400,000 $5,902/Mo

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Overview

Bed

Bath

1,942

Sqft

9,576

Sqft(Lot)

Description

Opportunities like this don't surface often. 553-559 Lincoln Avenue is a character-rich, four-unit cottage-style property positioned in the heart of Pasadena and it arrives with one unit delivered vacant. That detail opens the door to owner-user financing: conventional loans with lower down payment requirements, better rates, and terms unavailable on pure investment acquisitions. Live in one, collect rent from three, one of the most effective wealth-building structures in residential real estate. For the investor, the fundamentals are equally strong. In-place income is stable, tenants cover gas and electricity, and landlord-owned laundry equipment adds $150-$200/month in supplemental revenue. Major capital work has already been absorbed; plumbing updates in 2023, electrical improvements wi thin the last decade, and a roof in good standing. Upside runs through operational refinement and cosmetic improvement. Market Cap Rate near 6%. Built in the classic cottage tradition, the property carries architectural character that commands tenant loyalty and holds value in soft markets. Interiors feature hardwood and tile flooring, granite countertops, and ceiling fans. Individual wall units handle heating and cooling, keeping systems simple and maintenance contained. Walkability is a headline feature. The Metro Gold Line Station is steps away, and a grocery store, Starbucks, CVS, and major banking are within a single block. Old Town Pasadena with its concentration of dining, retail, and cultural anchors is minutes from the front door. Pasadena's strong employment base, educated renter demographic, and constrained multifamily inventory make this a market that consistently outperforms in occupancy and rent growth. 553-559 Lincoln Avenue suits a first-time buyer entering the market with built-in income, an owner-user ready to build equity, or a seasoned investor adding a low-maintenance performer to an existing portfolio. The vacant unit is the opportunity, what you do with it is yours to decide.

Property Details

Property Type : ResidentialIncome

Price : $1,400,000

AD Id : 84714508

MLS Id : 26843273

Beds : 5

Lot Size : 9,576 Sqft

Living Area Size : 1,942

Year Built : 1924

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 5

Bathroom Information

Total Baths: 4

Flooring Information

Wood
Interior Features

CeilingFans

Appliances: Microwave, Refrigerator

Laundry Features: CommonArea
Heating & Cooling

Has Heating: Yes Heating: WallFurnace Has Cooling: Yes Cooling: WallWindowUnits

Building Information

Year Built: 1924

Building Area Total: 1942

Stories: 1

Pool Features: None

Private Pool: No

View: None

Lot Information

Main Square Feet: 9576 Lot Size Acres: 0.2198 Lot Size Square Feet: 9,576

Listing Price Information

Listing Price: $1400000

Original Price: $1430000

Tax Information

Parcel Number: 5726010021

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 4 Carport

Location Information

Direction: 110 to Orange Grove Blvd

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