3103 Lincoln Avenue
Altadena, CA 91001
2622 sqft | 4 beds | 3 baths | 0.20 acres | #IV24198983
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.
Property Details
- School DistrictPasadena Unified
- ViewNeighborhood
- Lot DescriptionIrregularLot
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,499,999
- MLS #IV24198983
- MLS #IV24198983
- Property TypePurchase
- Cost1499999
- Property SubtypeTriplex
- Structure TypeTriplex
- Acres0.2013
- Utility SourcePublic
- Square Feet2622
- Year Built1955
- Bedrooms4
- Bathrooms3
- Full Baths3
- Stories2
Location
Legal
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 the most recent time synced 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: ROBERT WATKINS (#IWATKROB)
Listing Office: RE/MAX TIME REALTY (#IRMTR)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
