3103 Lincoln Avenue, Altadena, CA 91001

• Listed Price : $1,499,999
• Beds : 4
  
• Baths : 3
  
• Property Size : 2,622 sqft
  
• Year Built : 1955
  

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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 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.

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Interior Features

Listing Information

Listing information courtesy of: ROBERT WATKINS, RE/MAX TIME REALTY. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 3rd, 2024 at 12:31 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.