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Anastasiya Richards

akheystver@gmail.com +1(510) 493-0442

$ 1,430,000

Est. payment -/mo

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Active

553 Lincoln Ave Pasadena, CA 91103

5 Beds

4 Baths

1,942 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,942 sqft

Price per Sqft $736

MLS Listing ID 26843273

Style Cottage

Bedrooms 5

Year Built 1924

Lot Size 9,576 Sqft

Acres 0.2198

Property Sub-Type Multi-Family

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 Pasadena Nw

Zoning PSR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Ceiling Fan, Wall/Window

Flooring Hardwood

Equipment Ceiling Fan, Microwave, Refrigerator, Range/Oven

Laundry Community

Exterior

Parking Features Carport

Garage Spaces 4.0

Pool None

Waterfront Description None

View Y/N No

View None

Building

Story 1

Architectural Style Cottage

Level or Stories One

Others

Special Listing Condition Standard

Pets Allowed Pets Permitted

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Compass

NEARBY SCHOOL & BUSINESS

+1(510) 493-0442

akheystver@gmail.com

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