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.
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/14/26 1:11 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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