199 S Madison Avenue

Pasadena, CA 91101

$3,650,000

List Price

14

bed Beds

12

shower Baths

7,142 sqft

straighten / sqft

1955

calendar_month Built

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.

Listing Information

List Price $3,650,000
Status Active
MLS 24464165
Type Residential Income
Year Built 1955
Lot Size 12,790
Structure Size 7,142
Courtesy Of Realty Investment Advisors, Inc.
Listing Agent Alexander Metaxas DRE#01784652
Co-Listing Agent Benjamin J. Hsiang DRE#01438644

Interior Features

Laundry Information
Location(s) Common Area, Laundry Room
Total Bedroom
Bedrooms 14
Total Bathroom
Bathrooms 12

Exterior Information

Maps

Listing information courtesy of: Alexander Metaxas, Benjamin J. Hsiang, Realty Investment Advisors, Inc. 626-313-4901. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 16th, 2024 at 12:47 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.