Homes for sale - 570 N Madison, Pasadena, CA 91101

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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,890,000

Est. payment - /mo

0.29 Acres Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25250939

Construction Status Repairs Cosmetic

HOA Y/N No

Year Built 1963

Lot Size 0.291 Acres

Property Sub-Type Apartment

Property Description

True Value-add 9 units several blocks north of Old Town Pasadena, Excellent Unit Mix, Large 12,685 SF Lot, 9 carport parking, Excellent going-in CAP Rate with High Proforma CAP Rate. 570 N Madison Ave, a prime value add 9-unit apartment in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, 2 blocks west of Los Robles Ave, and just within walking distance of many dining, shopping, and other attractions in Pasadena. It is situated on a quiet residential street surrounded by single family houses. This property is being sold together with 5 adjacent buildings to its south that are own by same seller – can be purchased together or individually (514 N Madison, 526 N Madison, 536 N Madison, 542 N Madison, and 562 N Madison).

The property is a garden style walk-up 2 story apartment with excellent curb appeal. It offers superb unit mix with two (2) x 3bed+1bath and seven (7) x 2bed+1bath units, making it an easy unit mix to rent out. The property was built in 1963, has a total of ±7,222 SF building size and is situated on a large ±12,685 SF lot. Based on the building size, each unit average about 802SF/unit (buyer to verify). All the ground floor units have private patio (buyer to verify). Approximately 3 units have been updated with luxury wood flooring, updated kitchen (quartz countertops, new kitchen cabinet), and updated bathroom.

Parking is provided via 9 carports (3 on the side and 6 in the back). There is no living space above carports which means the property does not need any soft story retrofit. Each unit is separately metered for electricity and gas. The property has a shared laundry room.

The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena's historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region. Historic Old Pasadena's charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away.

Location

State CA

County Los Angeles

Area 645 - Pasadena (Nw)

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Laminate, Vinyl, Wood

Fireplaces Type None

Fireplace No

Appliance Gas Range, Refrigerator

Laundry Common Area

Exterior

Parking Features Attached Carport, Assigned, Carport, Detached Carport

Carport Spaces 9

Fence Wrought Iron

Pool None

Community Features Suburban, Valley

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Asphalt

Accessibility None

Total Parking Spaces 9

Private Pool No

Building

Lot Description Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level

Faces West

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Mid-Century Modern

Level or Stories Two

New Construction No

Construction Status Repairs Cosmetic

Others

Senior Community No

Tax ID 5731006024

Energy Description 451.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Handoko Chen Growth Investment Group Pasade han.chen@growthinvestmentgroup.com

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