
Pasadena, California 91103
This Turnkey Triplex represents a Strong Value Opportunity, listed at $1,499,000—positioned well below the $1,653,668 Fair Market Value by 9%. This valuation gap offers $154,668 in Instant Equity. Featuring an Excellent Condition Rating with recent electrical and cosmetic upgrades, the property provides immediate rental income potential. The expansive 9,587 sqft lot offers significant development upside. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-performing, move-in ready asset in Pasadena.
Property is new construction or fully renovated.
The property has undergone extensive renovations within the last 3 years, including upgraded electrical panels with underground wiring, new flooring, cabinets, and appliances across all three units. Exterior improvements like fresh paint, new fencing, and roof repairs on the carport ensure a turnkey, mint-condition status consistent with the <5-year renovation criteria.
The property has undergone extensive recent renovations, including upgraded electrical panels with underground wiring, new flooring, cabinets, and appliances, ensuring immediate occupancy with minimal initial capital expenditure.
Delivered without existing occupants, this triplex allows investors to immediately set market-rate rents or provides an ideal opportunity for an owner-occupant to move in without the legal complexities of tenant relocation.
Situated on an expansive 9,587 sqft lot, the property offers rare long-term upside with the possibility of adding additional multi-unit structures or ADUs at the rear, maximizing the land's value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4000, other record living area = 1979.
While gas and electricity are separately metered, the entire property is serviced by a single water meter, which complicates utility cost allocation among tenants and increases owner overhead.
Originally built in 1924, the property may still harbor legacy maintenance requirements common to century-old structures, such as aging plumbing or foundation settling, despite recent cosmetic and electrical improvements.
Welcome to this beautifully upgraded multi-unit property in the highly sought-after Bristol Cypress neighborhood of Pasadena. Situated on a large lot, this rare offering includes three separate addresses — 523, 525, and 527 Lincoln Ave — and delivers both immediate value and long-term upside. Over the past three years, the property has undergone extensive improvements. All three units feature upgraded electrical panels, with costly underground wiring completed for long-term reliability. Each unit has been refreshed with new flooring, cabinets, interior paint, and appliances, creating a modern, turnkey living experience. Exterior upgrades include repaired wood siding, fresh exterior paint, new front fencing with a rolling gate, and low-maintenance artificial turf. The carport has been improved with newly poured concrete and a roof featuring partially new shingles, adding both functionality and durability. The front home (527 Lincoln Ave) offers 2 bedrooms and 1 bathroom, while the rear duplex (523 & 525 Lincoln Ave) consists of two 1-bedroom, 1-bath units, each with a comfortable living area. All three units have separate gas and electrical meters, with water currently serviced by a single meter to the front unit. The property will be delivered without existing occupants, presenting an ideal opportunity for owner-occupants, investors, or developers. Live in one and rent the others, or maximize income across all three units. The expansive lot also provides future development potential, with the possibility of adding additional multi-unit structures at the rear (buyer to verify with the City of Pasadena). Just minutes from the Rose Bowl and close to Pasadena’s popular dining, shopping, and vibrant downtown scene, this property combines location, condition, and upside — a rare find in one of Pasadena’s most desirable neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 4,000 | 2,217 |
| Lot Size | 9,587 | 8,545 |
| Price | $1.50M | $1.20M |
| Price per sq ft | $375 | $647 |
| Built year | 1924 | 1947 |
| HOA | $0 | $0 |
| Days on market | 35 | 81 |
Jun 17, 2026
$1,499,000
Initial Listing
May 12, 2022
$1,350,000
Public Record