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.
Property Details
Property Features
Property Information:
Year Built: 1903
Stories: 2
Listing Office:
Office Name: Berkshire Hathaway HomeServices California Properties
Office Phone: (626) 975-2521
Listing Agent: Kevin Lee
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot: Corner Lot
Lot Size: 0.28 Acres
Other
Directions Information:
Directions: Corner of Lincoln Ave. and W. Villa St.
Price Information
Listing Price Info
Price Summary:
List Price: $2,659,000
Tax Information:
Annual Amount: $13,095
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Pasadena, CA.
This property is $1.4M more than the Median Sold Price in Pasadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #TR24135943
Listing Office:
Office Name: Berkshire Hathaway HomeServices California Properties
Office Phone: (626) 975-2521
Listing Agent: Kevin Lee
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/21/2024, 7:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Aug 27, 2021
Aug 27, 2021Home Sold
$1,500,000
Nov 15, 2006
Nov 15, 2006Home Sold
$875,000
Aug 30, 1995
Aug 30, 1995Home Sold
$195,000
Feb 23, 1990
Feb 23, 1990Home Sold
$338,000
Aug 23, 1988
Aug 23, 1988Home Sold
$230,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$13,095
$1,083,267
2020
$12,626
$1,071,923
2019
$12,769
$1,050,906
2018
$12,622
$1,030,300
2017
$12,622
$1,010,099
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
Madison Elementary School
515 E Ashtabula St
Distance between this listing and this school0.83 miles
Public District Grades PK-5
3
/10
Washington Elementary School
1520 N Raymond Ave
Distance between this listing and this school1.26 miles
Public District Grades PK-5
5
/10
San Rafael Elementary School
1090 Nithsdale Rd
Distance between this listing and this school1.65 miles
Public District Grades KG-5
Nearby Schools
8
/10
Ocs - South
524 Palisade St
Distance between this listing and this school1.28 miles
Public Charter Grades KG-8
4
/10
Washington STEAM Multilingual Academy
1505 N Marengo Ave
Distance between this listing and this school1.31 miles
Public District Grades 6-8
3
/10
McKinley School
325 S Oak Knoll Ave
Distance between this listing and this school1.38 miles
Public District Grades KG-8
Nearby Schools
2
/10
Rose City High (Continuation)
351 S Hudson Ave
Distance between this listing and this school1.41 miles
Public District Grades 9-12
5
/10
John Muir High School
1905 Lincoln Ave
Distance between this listing and this school1.75 miles
Public District Grades 9-12
5
/10
Blair High School
1201 S Marengo Ave
Distance between this listing and this school1.92 miles
The neighbors living near this home have an average income of $87,127. Typical income of Pasadena, CA residents is between $35k-100k annually. Most families are single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 481 Lincoln Ave
What is the listing price of this property?
The listing price of 481 Lincoln Ave property is $2,659,000.
What type of property is this?
The property 481 Lincoln Ave is a condo located in Pasadena, California, 91103.
Is this property for sale now?
Active Listing: 481 Lincoln Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $13,095 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on August 27, 2021 for $1,500,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 481 Lincoln Ave is 1903.
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This home is located at 481 Lincoln Ave in Pasadena, CA and zip code 91103 in the The Verdugos neighborhood. This home, which was built in 1903, sits on a 0.28 acre lot. It has been listed on Rocket Homes since July 03, 2024 and is currently priced at $2,659,000.
While more than 38 listings in Pasadena, CA in October 2024 were sold above asking price, there were more than 10 listings sold at asking price, and more than 37 were sold below. Between September 2024 and October 2024, Pasadena, CA real estate market has seen increase in the number of listings by 4.4%. In October 2024 median list price was $1,204,134 and the average listing age was 40 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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