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481 Lincoln Ave 7 Unit Apartment Building $3,707,976 CAD ($529,711 CAD/Unit) 4.76% Cap Rate Pasadena, CA 91103
Investment Highlights
- 7 Units with 2 Buildings (4 Units: 1 Bed/ 1 Bath, 1 Unit: 2 Bed/ 1 Bath, 2 Units: 2 Bed/ 1 Bath).
- Monthly Gross Income $14,822.00 (100% occupied).
- All Building Exterior and 5 of 7 Units were fully renovated in 2022.
Executive Summary
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). With CAP Rate Close to 5% in a Class-A Location, and 100% OCCUPIED. 2 story building was built in 1903 and single story building was built in 1952. BOTH BUILDINGS EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2022. 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.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$248,045
|
$49.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,441
|
$1.47
|
| Effective Gross Income |
$240,604
|
$47.54
|
| Taxes |
$39,376
|
$7.78
|
| Operating Expenses |
$24,876
|
$4.92
|
| Total Expenses |
$64,253
|
$12.70
|
| Net Operating Income |
$176,351
|
$34.85
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $248,045 |
| Annual Per SF | $49.01 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,441 |
| Annual Per SF | $1.47 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $240,604 |
| Annual Per SF | $47.54 |
| Taxes (CAD) | |
|---|---|
| Annual | $39,376 |
| Annual Per SF | $7.78 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $24,876 |
| Annual Per SF | $4.92 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,253 |
| Annual Per SF | $12.70 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $176,351 |
| Annual Per SF | $34.85 |
Property Facts
| Price | $3,707,976 CAD | Building Class | C |
| Price Per Unit | $529,711 CAD | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 5,061 SF |
| Cap Rate | 4.76% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1903 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | PSR3 | ||
| Price | $3,707,976 CAD |
| Price Per Unit | $529,711 CAD |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 5,061 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1903 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | PSR3 |
Amenities
Unit Amenities
- Air Conditioning
- Refrigerator
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,641 CAD | 518 - 683 |
| 2+1 | 1 | $3,145 CAD | 600 |
| 2+2 | 2 | $3,648 CAD | 908 - 1,113 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5726-010-028 | Total Assessment | $2,219,780 CAD (2025) |
| Land Assessment | $1,775,825 CAD (2025) | Annual Taxes | $39,376 CAD ($7.78 CAD/SF) |
| Improvements Assessment | $443,956 CAD (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
5726-010-028
Land Assessment
$1,775,825 CAD (2025)
Improvements Assessment
$443,956 CAD (2025)
Total Assessment
$2,219,780 CAD (2025)
Annual Taxes
$39,376 CAD ($7.78 CAD/SF)
Tax Year
2023
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481 Lincoln Ave
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