215 S Madison, Pasadena, CA 91101
215 S Madison, Pasadena, CA 91101
215 S Madison, Pasadena, CA 91101
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$11,500,000
Est. payment /mo
0.44 Acres Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26122848

HOA Y/N No

Year Built 1972

Lot Size 0.436 Acres

Property Sub-Type Apartment

Property Description

Madison Luxury Apartments presents a rare opportunity to acquire a meticulously maintained 34-unit apartment community in the heart of Pasadena, ideally positioned between the highly desirable Madison Heights and Playhouse Village neighborhoods. Offered for sale for the first time since its original construction, this trophy asset features an attractive mix of spacious one-bedroom/one-bathroom and two-bedroom/two-bathroom residences with private balconies or patios, semi-subterranean parking, and a rooftop recreation area showcasing panoramic views of Old Pasadena and the San Gabriel Mountains.

The property has benefited from significant capital improvements, including a new roof (2020), all-new copper plumbing (2018), a complete low-voltage electrical rewire, remodeled elevator, security camera system, and the installation of 17 electric vehicle charging stations. Residents also enjoy access to a shared laundry facility and a location that offers an exceptional blend of convenience, lifestyle, and connectivity.

Situated just minutes from Old Pasadena and the Shops on Lake Avenue, Madison Apartments places residents within walking distance of some of Pasadena's premier dining, shopping, entertainment, and cultural destinations. The surrounding neighborhood is characterized by tree-lined streets, historic architecture, top-rated schools, nearby parks, and convenient access to major employment centers and public transportation, supporting strong demand from a diverse and stable tenant base.

From an investment perspective, Madison Luxury Apartments offers both immediate income and long-term upside. The property currently generates strong in-place cash flow at a 5.6% cap rate, 7.4% with market rents, representing approximately 25% upside in rental income. Combining a premier Pasadena location, extensive recent upgrades, proven tenant appeal, and meaningful potential, the property represents an exceptional multifamily investment opportunity in one of Southern California's most sought-after rental markets.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 25

Pool None

Community Features Sidewalks

Total Parking Spaces 50

Private Pool No

Building

Lot Description Irregular Lot

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5734010001

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Ryan Loria Triqor Group #02006138

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