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215 S Madison

Pasadena, CA 91101

$11,500,000 $48,484/Mo

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Overview

Bed

Bath

34,815

Sqft

19,002

Sqft(Lot)

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, securi ty 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.

Property Details

Property Type : Residential Income

Price : $11,500,000

AD Id : 80129117

MLS Id : PW26122848

Lot Size : 19,002 Sqft

Living Area Size : 34,815

Year Built : 1972

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer

Building Information

Year Built: 1972 Building Area Total: 34,815
Pool Features

None

Laundry Features

Common Area

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.4362
Lot Size Source: Assessor Lot Size Square Feet: 19002

Listing Price Information

Original List Price: 11,500,000 Listing Contract Date: 2026-06-05
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 5734010001

Other Property Info

Source Listing Status: Active Source Neighborhood: 699 - Not Defined Directions: Driving West on E. Del Mar Blvd., Turn Right Onto S. Madison Ave., Property Will be on Your Left Source Property Type: Residential Income Area: 699 - Not Defined Property SubType: Apartment
Building and Construction

Property Age: 54 Common Walls: 2+ Common Walls Structure Type: Apartment Year Built Source: Public Records Entry Level: 1 Entry Location: 1 Property Attached: Yes

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
805 Earlham Street, Pasadena, CA, 91101	$1,299,900	6	4	1,988	1,988 SqFt
840 E Green #305, Pasadena, CA, 91101	$1,295,000	2	2	1,917	1,917 SqFt
570 N Madison, Pasadena, CA, 91101	$2,850,000	--	--	7,222	7,222 SqFt
709 E Walnut Street #222, Pasadena, CA, 91101	$699,900	--	1	706	706 SqFt
295 S Hudson Avenue, Pasadena, CA, 91101	$5,595,000	--	--	9,945	9,945 SqFt
385 S Oakland Avenue #205, Pasadena, CA, 91101	$899,000	3	1	2,008	2,008 SqFt
408 E Del Mar Boulevard, Pasadena, CA, 91101	$889,000	2	1	1,162	1,162 SqFt

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ByOwner last updated this listing 06/08/2026 @ 07:33

MLS: PW26122848 LISTED BY: Ryan Loria, Triqor Group 949-756-3232 SOURCE: CRMLS