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3103 Lincoln Avenue
Altadena, CA 91001
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 INFORMATION
| MLS # | IV24198983 | Lot Size | 8,767 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Triplex |
| Price | $ 1,499,999
Price Per SqFt: $ 572 |
DOM | 247 Days |
| Address | 3103 Lincoln Avenue | Type | Residential |
| City | Altadena | Sq.Ft. | 2,622 Sq. Ft. |
| Postal Code | 91001 | Garage | N/A |
| County | Los Angeles | Year Built | 1955 |
| Bed / Bath | 4 / 3 | Parking | N/A |
| Built In | 1955 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | See Remarks |
| Has Fireplace | Yes |
| Fireplace Information | See Remarks |
| Room Information | Kitchen, Living Room |
| Has Cooling | Yes |
| Cooling Information | See Remarks |
| EntryLocation | 1 |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,600
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/03/2024 | Relisted | $1,499,999 |
| 09/24/2024 | Listed | $1,499,999 |
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Listing provided courtesy of ROBERT WATKINS, RE/MAX TIME REALTY. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
