526 N Madison Ave - Apartments FOR SALE


Pasadena, CA 91101- The Oaks Pasadena
$1,550,000 USD
626-594-4900
526 N Madison Ave, Pasadena, CA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/22
null | 4.81% Cap Rate

526 N Madison Ave
Pasadena, CA 91101
The Oaks Pasadena


HIGHLIGHTS

  • 4 Single-story Bungalows several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage.
  • Perfect for an owner user or a first-time home/apartment investor; 2 units have been upgraded, 1 unit will be delivered vacant
  • SUPERB demographics with ±$111,562 average household income within a 1-mile radius
  • Highly desirable 4 separate single-story bungalows on a large lot size (±13k SF)
  • Excellent mix with 2bed and 1bed units; Super easy to rent and manage
  • Charming units with original hardwood floor, plenty of built-in cabinets, and laundry hookups; end unit is a larger 2bed unit.

OVERVIEW

1 largest unit (#526) is moving out and will be delivered vacant! 4 Single-story Bungalows several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage, Clear ADUs Upside (4 ADUs), 2 units upgraded. Growth Investment Group California is proud to offer 526-532 N Madison Ave, a bungalow style 4-units Single story 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. The property offers a highly desirable bungalow single-story layout (no adjoining walls) providing tenants with single family residential feel. It consists of 4 separate bungalows with a lush center courtyard/walkway providing serene atmosphere for the tenants. The unit mix is one (1) x 2bedroom+1bathroom and three (3) 1bedroom+1bathroom units, which makes it very easy to rent and manage. The property was built in 1940, has a total of ±3,326 SF building size (Average unit size is 830SF/unit) and is situated on a large ±13,185 SF lot. Each unit is charming with original hardwood flooring, ceiling fans, plenty of built in cabinets, tiled kitchen and bathroom, and in-unit laundry hookups. The front 1 bedroom unit #532 was recently leased for $2450/month. Two units (#532 and #530) have been upgraded with brand new kitchen and updated bathroom. Parking is provided via detached 3 car garages and 1 open space in the back. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$478 USD /SF

# OF UNITS

4

PRICE/UNIT

$387,500

CAP RATE

4.81%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4 Single Story Bungalows on Large Lot

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,119 SF

ZONING

RM-16

APN/PARCEL ID

5731-006-013

ASK ABOUT THIS PROPERTY

Han Widjaja-ChenGrowth Investment Group CaliforniaMore Info
626-594-4900

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Han Widjaja-ChenGrowth Investment Group CaliforniaMore Info
626-594-4900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.