CA > Altadena
Altadena, CA 91001,3103 Lincoln AVE
Altadena, CA 91001,3103 Lincoln AVE,Video Tour
Altadena, CA 91001,3103 Lincoln AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,499,999
Est. payment /mo
4 Beds
3 Baths
2,622 SqFt
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UPDATED:

11/10/2024 11:37 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,622 sqft

Price per Sqft $572

MLS Listing ID IV24198983

Bedrooms 4

Full Baths 3

HOA Y/N No

Year Built 1955

Lot Size 8,768 Sqft

Property Description

Charming Altadena Triplex with Huge Development Potential – A Smart Investor's Dream Opportunity

Welcome to a rare find in the heart of Altadena, a well-maintained triplex nestled on an expansive 8,700+ sq. ft. lot with endless possibilities! With three current tenants on month-to-month leases paying under-market rents, this property offers immediate cash flow and a host of opportunities for savvy investors, developers, or even first-time homebuyers looking to capitalize on the robust Altadena real estate market.

Property Highlights:

Three units in great condition, providing a stable rental income stream.
Month-to-month leases offer flexibility for immediate rent increases or renovations.
Huge 8,700+ sq. ft. lot with development potential – a dream canvas for creative investors.
Covered carport with potential for ADU (Accessory Dwelling Unit) conversion, allowing for additional rental income or living space.

Prime Altadena location, just minutes from shops, dining, parks, and easy access to Pasadena and Downtown Los Angeles.

The Development Opportunity:

The sheer size of this 8,700+ sq. ft. lot opens up a world of options for the astute investor. Zoned for multi-family use, the lot’s size, shape, and current layout are ideal for someone looking to expand, redevelop, or reimagine the property to maximize value.

Investor Appeal – Immediate Cash Flow with Long-Term Growth Potential

With rents currently below market value, this property offers immediate upside potential. A simple rent increase to market rates could improve your cash flow considerably, even without making any major changes. However, if you're the type of investor looking to maximize returns, this property could be a goldmine with strategic upgrades or redevelopment.

Whether you're looking for a value-add opportunity, a place to call home while benefiting from rental income, or a development project with significant upside, this triplex checks all the boxes.

The time to act is now! Schedule a viewing to see this fantastic property and review the numbers with us. Properties offering this level of flexibility and growth potential are a rarity in Altadena. Whether you’re a seasoned investor looking for your next project or a first-time buyer hoping to live in one unit while benefiting from rental income, this triplex is a must-see.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Zoning LCC2*

Rooms

Ensuite Laundry See Remarks

Interior

Laundry Location See Remarks

Cooling See Remarks

Fireplaces Type See Remarks

Fireplace Yes

Laundry See Remarks

Exterior

Pool None

Community Features Curbs

View Y/N Yes

View Neighborhood

Private Pool No

Building

Lot Description Irregular Lot

Dwelling Type Triplex

Story 2

Entry Level Multi/Split

Sewer Public Sewer

Water Public

Level or Stories Multi/Split

New Construction No

Schools

School District Pasadena Unified

Others

Senior Community No

Tax ID 5829005047

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by ROBERT WATKINS • RE/MAX TIME REALTY • 909-205-5848

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