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Opportunities like this don't surface often. 553-559 Lincoln Avenue is a character-rich, four-unit cottage-style property positioned in the heart of Pasadena and it arrives with one unit delivered vacant. That detail opens the door to owner-user financing: conventional loans with lower down payment requirements, better rates, and terms unavailable on pure investment acquisitions. Live in one, collect rent from three, one of the most effective wealth-building structures in residential real estate. For the investor, the fundamentals are equally strong. In-place income is stable, tenants cover gas and electricity, and landlord-owned laundry equipment adds $150-$200/month in supplemental revenue. Major capital work has already been absorbed; plumbing updates in 2023, electrical improvements within the last decade, and a roof in good standing. Upside runs through operational refinement and cosmetic improvement. Market Cap Rate near 6%. Built in the classic cottage tradition, the property carries architectural character that commands tenant loyalty and holds value in soft markets. Interiors feature hardwood and tile flooring, granite countertops, and ceiling fans. Individual wall units handle heating and cooling, keeping systems simple and maintenance contained. Walkability is a headline feature. The Metro Gold Line Station is steps away, and a grocery store, Starbucks, CVS, and major banking are within a single block. Old Town Pasadena with its concentration of dining, retail, and cultural anchors is minutes from the front door. Pasadena's strong employment base, educated renter demographic, and constrained multifamily inventory make this a market that consistently outperforms in occupancy and rent growth. 553-559 Lincoln Avenue suits a first-time buyer entering the market with built-in income, an owner-user ready to build equity, or a seasoned investor adding a low-maintenance performer to an existing portfolio. The vacant unit is the opportunity, what you do with it is yours to decide.
Property Type(s):
Residential Income
| Last Updated | 6/12/2026 | Year Built | 1924 |
|---|---|---|---|
| Community | 645 - Pasadena (NW) | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Microwave, Refrigerator |
| AREA | 645 - Pasadena (NW) |
| HEAT | Wall Furnace |
| INTERIOR | Ceiling Fan(s) |
| LOT | 9574 sq ft |
| LOT DIMENSIONS | 9576 |
| PARKING | Carport |
| POOL DESCRIPTION | None |
| STORIES | 1 |
| STYLE | Cottage |
| VIEW DESCRIPTION | None |
Location
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Listed with Compass
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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