523 Lincoln Avenue, Pasadena, California 91103, Pasadena, 91103 - 4 bed, 3 bath

523 Lincoln Avenue, Pasadena, California 91103 home-pic-0
ACTIVE$1,699,500
523 Lincoln Avenue, Pasadena, California 91103
4Beds
3Baths
1,979Sqft
9,587Lot
Year Built
1924
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$859
HOA
-
Days on market
-
Sold On
-
MLS number
SR25068283
Home ConditionExcellent
Features
ViewNeighborhood

About this home

Fairly Priced:The estimated price is in line with the list price. We found 3 Cons,5 Pros. Rank: price - $1.70M(57th), sqft - 1979(55th), beds - 4(60th), baths - 3(53th).

Welcome to this beautifully updated 3 unit property, located in the highly sought-after historic Bristol-Cypress neighborhood of Pasadena. This unique offering includes three addresses—523, 525, and 527 Lincoln Ave—and sits on nearly a quarter-acre of prime land, providing incredible potential. Each of the three properties has been fully renovated with new flooring, fresh paint, and an upgraded electrical system throughout. The main house features two spacious bedrooms and one well-appointed bathroom, creating a modern and comfortable living space. At the rear of the property, you'll find a duplex, with each unit offering 1 bedroom, 1 bathroom, and a cozy living area. All three properties will be delivered vacant, presenting an excellent opportunity to live in one and rent the other two, or simply capitalize on this fantastic income-producing asset. Located just a short stroll from the iconic Rose Bowl and offering easy access to Pasadena's trendy restaurants, shops, and vibrant downtown area, this property is perfectly situated in a highly desirable neighborhood. The expansive lot also offers future development potential, with the possibility to build additional multi-unit structures at the rear. Don't miss out on this rare opportunity in one of Pasadena's most coveted locations.

Price History

Date
Event
Price
03/28/25
Listing
$1,699,500
Condition Rating
Excellent

Despite being built in 1924, the property has been 'fully renovated' with new flooring, fresh paint, and an upgraded electrical system throughout, as stated in the description. The images confirm this, showcasing modern white shaker cabinets, new stainless steel and black appliances, new countertops, and recessed lighting in the kitchens. Bathrooms feature new vanities, modern fixtures, and new shower stalls. All visible components appear new or virtually new, meeting current quality standards and indicating an extensive renovation within the last 5 years, aligning with the 'Excellent' condition criteria.
Pros & Cons

Pros

Multi-Unit Income Potential: This property comprises three distinct units (a main house and a duplex) delivered vacant, offering immediate income generation or the flexibility for an owner-occupant to live in one unit and rent out the others.
Extensive Renovations: All three properties have been fully renovated with new flooring, fresh paint, and upgraded electrical systems, minimizing immediate capital expenditures for the new owner.
Prime Location: Situated in the highly sought-after historic Bristol-Cypress neighborhood, the property boasts excellent walkability to the Rose Bowl, trendy restaurants, shops, and vibrant downtown Pasadena.
Development Potential: The nearly quarter-acre lot provides significant future development potential, with the possibility to build additional multi-unit structures at the rear, enhancing long-term value.
Vacant Delivery: All units being delivered vacant is a major advantage, allowing the new owner to set market rents immediately or occupy a unit without the complexities of tenant relocation.

Cons

Age of Property: Built in 1924, despite recent renovations, the underlying infrastructure of an older property may present unforeseen maintenance challenges or require further updates beyond cosmetic improvements over time.
Lack of Mentioned Cooling System: The description does not specify the presence of a cooling system (e.g., central air conditioning), which could be a significant drawback during Pasadena's hot summer months and may require future installation.
Historic District Restrictions: Being in a 'historic' neighborhood, while charming, may impose limitations or require special approvals for exterior modifications or future development plans, potentially impacting the full realization of the stated development potential.

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