Mixed-Use Development
For Sale
$4,895,000
1435 Lincoln Avenue Pasadena, Pasadena, CA 91103
RTI permits are in place for a project with 8 residential units and 3 ground-floor commercial spaces.
Property Size5,824 SF
Lot Size23,349.00 Acres
Price / SF$840.49
Days on Market33
Property Features for 1435 Lincoln Avenue Pasadena
General Information
Standard status
Active
Size
5,824 SF
Lot size
23,349.00 Acres
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$17,574
Amenities
1
0-1 Unit/Acre
Public
23429
0.5379
5824
Building Details
Building Size
5,824 SF
Year Built
1961
Listing Agency:
WestCoast Realty & Management; 310-991-2092
(909) 328-1567
Listed By:
Liz PoncedeLeon · License #01889579
(909) 328-1567
Source:
Rmarealty
Added: Jul 9
Changed: Aug 10
Last Checked: Aug 10 at 2:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WestCoast Realty & Management; 310-991-2092
Investment Insights
Based on property information with market context.
This mixed-use development site is offered for sale with RTI (Ready-to-Issue) permits already in place. The property is entitled for 8 residential units plus 3 ground-floor commercial spaces, creating a combined residential and income-generating component within a single project. Older buildings currently on the lot are intended to be demolished to allow for new construction.
Located at 1435 Lincoln Avenue in Pasadena, CA, the plan is designed to incorporate retail at street level alongside the residential units.
The entitlements reflect the proposed overall layout for the redevelopment, with the commercial spaces positioned on the ground floor and the residential component comprising 8 units.
Located at 1435 Lincoln Avenue in Pasadena, CA, the plan is designed to incorporate retail at street level alongside the residential units.
The entitlements reflect the proposed overall layout for the redevelopment, with the commercial spaces positioned on the ground floor and the residential component comprising 8 units.
Key Highlights
- RTI permits are in place for a mixed‑use project with 8 residential units and 3 ground‑floor commercial spaces
- 0.5379‑acre lot (23,429 sq ft) with public water service
- Current structure has 5,824 sq ft building area and was built in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,213
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,944,260
$2.9M
Cap Rate 7%
$2,103,043
$2.1M
Cap Rate 9%
$1,635,700
$1.6M
Market Conditions
NOI Build-Up for 5,824 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$215.3K $36.96/SF
− Vacancy
−$5.0K −$0.85/SF
EGI
$210.3K $36.11/SF
− OpEx
−$63.1K −$10.83/SF
NOI
$147.2K $25.28/SF
Area
Pasadena, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,944,260
Cap Rate 7%
$2,103,043
Cap Rate 9%
$1,635,700
Alternative Uses
Best Use
Apartment 5plus
$115.69M
$101.23M – $134.97M
NOI $8,098,387 @ 7.0% cap · market cap 165.44%
Second Best
Retail
$2.10M
$1.84M – $2.45M
NOI $147,213 @ 7.0% cap · market cap 3.01%
Theoretical Best
Multifamily LT 5
$131.10M
$114.71M – $152.95M
NOI $9,176,896 @ 7.0% cap · market cap 187.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 91103, CA
26,887
Population
9,392
Households
2.9
Avg Household Size
39
Median Age
38%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
5,845
Density / Sq Mi
$84,683
Median Household Income
$43,591
Median Earnings
$1,925
Median Rent
$960,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - RTI permits are in place for a project with 8 residential units and 3 ground-floor commercial spaces.
Where is this apartment building located?
The property is located at 1435 Lincoln Avenue Pasadena Pasadena, CA.
What is the asking price?
The asking price for this property is $4,895,000.
What are key features of this property?
This property features: RTI permits are in place for a mixed‑use project with 8 residential units and 3 ground‑floor commercial spaces; 0.5379‑acre lot (23,429 sq ft) with public water service; Current structure has 5,824 sq ft building area and was built in 1961
