3103 Lincoln Avenue, Altadena

$1,499,999

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4

Beds

3

Baths

2,622

Square feet

0.20

Acres

About 3103 Lincoln Avenue

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.

Features of 3103 Lincoln Avenue

MLS® # IV24246230
Price $1,499,999
Bedrooms 4
Bathrooms 3.00
Full Baths 3
Square Footage 2,622
Acres 0.20
Year Built 1955
Type Residential
Sub-Type Triplex
Status Active

Community Information

Address 3103 Lincoln Avenue
Area 699 - Not Defined
City Altadena
County Los Angeles
Zip Code 91001

Amenities

View Neighborhood
Is Waterfront No
Has Pool No
Pool None

Interior

Cooling See Remarks
Has Basement No
Fireplace Yes
Fireplaces See Remarks
# of Stories 2
Stories Multi/Split

Exterior

Lot Description Irregular Lot

School Information

District Pasadena Unified

Additional Information

Date Listed December 6th, 2024
Days on Market 72
Zoning LCC2*
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentRobert Watkins
OfficeRE/MAX TIME REALTY

Listing Map

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