1910-1918 Lincoln Ave
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1910-1918 Lincoln Ave
16 Unit Apartment Building $3,800,000 ($237,500/Unit) 5.43% Cap Rate Pasadena, CA 91103
Investment Highlights
- 16-Unit Value Add Opportunity in Pasadena: Excellent 16-unit value add opportunity in Pasadena with current rents approximately 12% under market rate
- Favorable Unit Mix: Excellent unit mix consisting of (2) two-bedroom/one-bathroom units, (12) one-bedroom/one-bathroom units and (2) studios
- Proximity to 210, 134 and 110 Freeways: Residents have easy commute to Downtown LA, Eagle Rock, Highland Park, La Cañada Flintridge
- Excellent Metrics: $237,500 price per unit / 5.43% cap rate and 11.66 GRM on current rents
- Walk Score 80: Property has Walk Score of 80 (very walkable) and it is just down the street from Homestate & Stumptown Coffee Roasters
- Located Near Public Transit (A Line): close in proximity to several of Pasadena’s A Line Stations providing convenient westbound access to DTLA
Executive Summary
Marcus & Millichap is pleased to present 1910-1918 Lincoln Ave - two separate, eight unit (16) value-add apartment buildings located in Pasadena. This property offers an investor the opportunity to renovate common areas / unit interiors to increase current rents which are approximately 12% under market. The property features an excellent unit mix of (12) one-bedroom/one-bathroom units, (2) two-bedroom/one-bathroom units and (2) studios. The two buildings total to 8,430 square feet and sit on a 14,307 square foot lot zoned PSR1.
Located just a couple of miles north of Old Town Pasadena in the Lincoln-Villa neighborhood, 1910-1918 Lincoln Ave boasts a walk score of 80 (very walkable) and is close in proximity to a variety of local gyms, markets, schools and eateries. This Pasadena neighborhood sits just east of the Rose Bowl and is a short drive away to La Cañada Flintridge and Altadena. Conveniently positioned near the 210, 134 and 110 freeways, residents have an easy commute to Downtown LA, Eagle Rock, Highland Park and the rest of the San Gabriel Valley. The property is also nearby several of Pasadena’s A Line Stations providing convenient westbound access to DTLA, Hollywood, Koreatown and LAX.
Located just a couple of miles north of Old Town Pasadena in the Lincoln-Villa neighborhood, 1910-1918 Lincoln Ave boasts a walk score of 80 (very walkable) and is close in proximity to a variety of local gyms, markets, schools and eateries. This Pasadena neighborhood sits just east of the Rose Bowl and is a short drive away to La Cañada Flintridge and Altadena. Conveniently positioned near the 210, 134 and 110 freeways, residents have an easy commute to Downtown LA, Eagle Rock, Highland Park and the rest of the San Gabriel Valley. The property is also nearby several of Pasadena’s A Line Stations providing convenient westbound access to DTLA, Hollywood, Koreatown and LAX.
Property Facts
| Price | $3,800,000 | Apartment Style | Low Rise |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 5.43% | Building Size | 8,430 SF |
| Gross Rent Multiplier | 11.66 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 1.9/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,800,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| Gross Rent Multiplier | 11.66 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 8,430 SF |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 1.9/1,000 SF |
Site Amenities
- Laundry Facilities
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Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,392,696 | |
| Land Assessment | $2,321,166 | Total Assessment | $3,713,862 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,321,166
Improvements Assessment
$1,392,696
Total Assessment
$3,713,862
zoning
| Zoning Code | PSR1 (residential) |
| PSR1 (residential) |
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1910-1918 Lincoln Ave
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