3103 Lincoln Avenue, Altadena, CA 91001

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Glen Henderson

[email protected] +1(619) 889-7646

$1,499,999

Est. payment - /mo

4 Beds

3 Baths

2,622 SqFt

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UPDATED:

12/12/2024 07:00 PM

Key Details

Property Type Condo

Listing Status Active

Purchase Type For Sale

Square Footage 2,622 sqft

Price per Sqft $572

MLS Listing ID IV24246230

Style All Other Attached

Bedrooms 4

Full Baths 3

HOA Y/N No

Year Built 1955

Lot Size 8,767 Sqft

Acres 0.2013

Type of Financing Submit

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 lots 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
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 lots 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 youre 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 Altadena (91001)

Zoning LCC2*

Interior

Cooling Other/Remarks

Fireplaces Type Other/Remarks

Laundry Other/Remarks

Air Conditioning Other/Remarks

Exterior

View Neighborhood

Building

Lot Description Curbs

Story 2

Lot Size Range 7500-10889 SF

Sewer Public Sewer

Water Public

Level or Stories Split Level

Others

Monthly Total Fees $105

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

CFD/Mello-Roos Fee $1, 266

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Listed by ROBERT WATKINS • RE/MAX TIME REALTY

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

3103 Lincoln Avenue Altadena, CA 91001

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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