Pending

200 S Madison Avenue

Pasadena, CA 91101

$4,480,000 $18,887/Mo

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Overview

Bed

Bath

11,212

Sqft

12,774

Sqft(Lot)

Description

We are pleased to present 200 South Madison Avenue, a rare opportunity to acquire a pride-of-ownership 16-unit multifamily asset in the highly coveted Madison Heights neighborhood of Pasadena. The property combines an irreplaceable location, strong in-place cash flow, and meaningful rental upside, making it an exceptional long-term investment opportunity. The property consists of sixteen well-designed units, including one two-bedroom/one-bathroom unit, eight one-bedroom/one-bathroom units, and seven studio units, providing a diverse unit mix that appeals to a broad tenant base. Current ownership has completed numerous capital improvements, including the mandatory soft-story seismic retrofit, copper plumbing upgrades, newer roofing, fresh exterior paint, and interior unit renovations. The p roperty is separately metered for gas and electricity and offers fifteen on-site parking spaces. Situated on a prominent 12,774-square-foot corner lot, 200 South Madison Avenue enjoys one of the most desirable residential locations in Pasadena. Residents benefit from immediate access to South Lake Avenue's premier dining and shopping destinations, Erewhon Market, the Pasadena Playhouse District, and Old Town Pasadena. The property's tree-lined setting, walkable neighborhood amenities, and proximity to major employment centers continue to drive strong tenant demand. Additional amenities include professionally landscaped grounds and a well-maintained on-site laundry facility, providing residents with added convenience while generating supplemental income for ownership. Currently operating at approximately a 12.75 GRM, the property offers investors the opportunity to capture significant future rent growth through the repositioning of below-market leases while benefiting from Pasadena's historically strong rental market fundamentals. Opportunities to acquire quality assets on Madison Avenue are exceedingly rare, particularly in a neighborhood where properties are often held for generations. 200 South Madison Avenue represents a unique opportunity to acquire a turnkey multifamily investment in one of Southern California's most prestigious and supply-constrained submarkets.

Property Details

Property Type : ResidentialIncome

Price : $4,480,000

AD Id : 88552711

MLS Id : 26857859

Beds : 10

Lot Size : 12,774 Sqft

Living Area Size : 11,212

Year Built : 1954

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 10

Bathroom Information

Total Baths: 16
Heating & Cooling

Has Heating: Yes Heating: WallFurnace Has Cooling: Yes Cooling: WallWindowUnits

Building Information

Year Built: 1954

Building Area Total: 11212

Private Pool: No

Lot Information

Main Square Feet: 12774 Lot Size Acres: 0.2933 Lot Size Source: Assessor Lot Size Square Feet: 12,774

Listing Price Information

Listing Price: $4480000

Tax Information

Parcel Number: 5734015024

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 15 Assigned, Carport

Location Information

Direction: South of Colorado Blvd

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