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Lisa Bethel

lisa.bethel@engelvoelkers.com +1(818) 319-5060

$ 1,430,000

Est. payment -/mo

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553 Lincoln AVE Pasadena, CA 91103

5 Beds

4 Baths

1,942 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,942 sqft

Price per Sqft $736

MLS Listing ID 26843273

Bedrooms 5

HOA Y/N No

Year Built 1924

Lot Size 9,574 Sqft

Property 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 within 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.

Location

State CA

County Los Angeles

Area 645 - Pasadena (Nw)

Zoning PSR3

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Wood

Fireplace No

Appliance Microwave, Refrigerator

Laundry Common Area

Exterior

Parking Features Carport

Carport Spaces 4

Pool None

View Y/N No

View None

Total Parking Spaces 4

Private Pool No

Building

Story 1

Entry Level One

Architectural Style Cottage

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5726010021

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Rolan Meyer Compass #02129783

NEARBY SCHOOLS & PROPERTIES

Lisa Bethel

Advisor | Accredited Buyer's Representative | Seniors Real Estate Specialist® | License ID: 02046953

+1(818) 319-5060

Lisa Bethel

553 Lincoln AVE Pasadena, CA 91103

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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553 Lincoln AVE