About this home

** ASSUMABLE EXISTING LOAN AT 3.83% UNTIL FEBRUARY, 2029!!! 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). 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. 2 STORY BUILDING EXTERIOR FACADE WERE FULLY RENOVATED AND UPGRADED IN 2021. 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.

Facts and features

Schools

• Madison Elementary School

  elementary · K-5 · 0.9 mi

  2

• John Muir High School

  high · 9-12 · 1.7 mi

  4

• New Horizon School

  elementary · K-8 · 0.2 mi

• Alma Fuerte Public

  elementary · K-8 · 1.3 mi

  7

• New Horizon School Pasadena

  elementary · K-8 · 0.2 mi

• St. Andrew Elementary School

  elementary · PK-8 · 0.3 mi

Price history

• Jun 17, 2026 · Listing Removed—
• Jun 16, 2026 · Listed$2,599,000
• Jul 2, 2024 · Listed$2,659,000
• Aug 27, 2021 · Sold$1,500,000
• Nov 15, 2006 · Sold$875,000
• Jul 14, 2006 · Listed$899,000
• Aug 30, 1995 · Sold$195,000
• Feb 23, 1990 · Sold$338,000

Tax history

• 2025$19,719 tax · $1,623,646 assessed
• 2024$18,753 tax · $1,591,811 assessed
• 2023$18,597 tax · $1,530,000 assessed
• 2022$17,952 tax · $1,500,000 assessed
• 2021$13,094 tax · $1,083,027 assessed
• 2020$12,602 tax · $1,071,923 assessed
• 2019$12,626 tax · $1,050,906 assessed
• 2018$12,769 tax · $1,030,300 assessed

Home value

$1,288,000

• Collateral Analytics$1,288,000

Where it is