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199 S Madison Ave

Pasadena, CA 91101
  • $3,650,000
  • STATUS: Active
  • ON SITE: 85 Days
  • MLS #: 24-464165
UPDATED: 22 min ago
$3,650,000
  • 14
    BEDS
  • 0.29
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 7,142
    SQFT
  • $511
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1955
County:
Area:

School Ratings & Info

Description

Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-09T08:43:04.38. 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.
www.searchdesertrealestate.com/homes/157923808
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199 S Madison Ave Pasadena, CA 91101

  • Price: $3,650,000
  • Status: Active
  • On Site: 85 Days
  • Updated: 22 min ago
  • MLS #: 24-464165
14
Beds
12
Baths
0
½ Baths
0.29
Acres
7,142
SQFT
$511
$/SQFT
1955
Built
Neighborhood:
Pasadena Se
County:
Los Angeles
Area:
Pasadena Se
Property Description
Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.
Exterior Features

Covered Parking 10 Levels Two Lot Size Area 12790 Other Structures None Parking Garage Carport DetachedCarport Attached Total Parking 10

Interior Features

Cooling Wall Unit(s) Equipment Range/Oven Heating Wall Laundry CommunityRoom Laundry Equipment Lease

Property Features

Assessed Total Value 2730786 Disclosures None Gross Income 210792 Gross Operating Income 204468 Like Units1 2 Like Units2 9 Like Units3 1 Net Operating Income 127764.00 Number Of Buildings 1 Number Of Units 12 Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Total Annual Expense 76704 Type Of Units Apartments Water Heaters YN Yes Year Built Source Assessor Zoning PSR4

Listing provided courtesy of Alexander Metaxas DRE#01784652 of Realty Investment Advisors, Inc.: .


Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-09T08:43:04.38. 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.
 
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