1910 Lincoln Ave Pasadena, CA 91103-1348
- Apartment buildings
- 4,260 SF
- 0.16 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1910 Lincoln Ave
- Year built
- 1949
- Construction
- WOOD
- Lot size
- 0.16 lot acres
- Property size
- 4,260 SF
- Zone code
- PSR1
- Property type
- Apartment buildings
- APN
- 5825-014-003
- APU
- 5825014003
Description
This exceptional 16-unit multifamily investment opportunity in Pasadena, California, presents a compelling value-add proposition. Comprising two, two-story buildings totaling 8,430 square feet on a spacious 1.43-acre lot (14,307 sq ft), the property offers a mix of 12 one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units, and two studio units. Currently priced at $3,800,000 ($237,500 per unit), it boasts a 5.43% cap rate with a pro-forma cap rate of 6.39%, reflecting significant upside potential. The Net Operating Income (NOI) is $206,214, projected to increase to $242,892. Built in 1949, the property is zoned PSR1 and benefits from a highly walkable location (Walk Score of 80), close to amenities, schools, and public transportation (A Line). Its convenient proximity to the 210, 134, and 110 freeways ensures easy access to Downtown Los Angeles and surrounding areas. Current rents are approximately 12% below market, presenting a clear opportunity for increased revenue through renovations and market-rate adjustments. This property offers a strong return on investment with significant potential for appreciation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.159
- Latitude
- 34.1785
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
