Active

570 N Madison

Pasadena, CA 91101

$2,850,000 $12,015/Mo

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Overview

Bed

Bath

7,222

Sqft

12,685

Sqft(Lot)

Description

Beautifully Maintained 9-units Value-add Mid-Century-Modern apartment several blocks north of Old Town Pasadena. Excellent Unit Mix, Large 12,685 SF Lot, can do ±9 ADUs, Excellent going-in CAP Rate with High Proforma CAP Rate, Many CapEX recently completed! A very well-maintained 9-unit value-add 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 high-priced bungalows/single family houses. The investment offers a high 5.7% CAP Rate making this a very attractive investment on day 1. The property is a garden style walk-up 2 story apartment with excellent curb a ppeal. It has undergone various capital improvements which includes new exterior paints, new reasphalt driveway, and others. It offers superb unit mix with two (2) x 3bed+1bath and seven (7) x 2bed+1bath units, making it an easy unit mix to rent out. The property was built in 1963, has a total of ±7,222 SF building size and is situated on a large ±12,685 SF lot. Based on the building size, each unit averages about 802SF/unit (buyer to verify). Each unit is unique with distinct Mid-Century-Modern architectural layout with open floor settings, floor to ceiling windows, and many more attractive design features. All the ground floor units have private patio (buyer to verify). Approximately 3 units have been updated with luxury wood flooring, updated kitchen (quartz countertops, new kitchen cabinet), and updated bathroom complete with tiled bathroom wall and glass shower door. There is a large and spacious common area deck above the middle carport for tenants common area. Recent study shows that a sophisticated buyer may be able to add NINE (9) ADUs in the back area (buyer to verify!). Parking is provided via 9 carports (3 on the side and 6 in the back). There is no living space above carports which means the property does not need any soft story retrofit. Each unit is separately metered for electricity and gas. The property has a shared laundry room. The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue.

Property Details

Property Type : Residential Income

Price : $2,850,000

AD Id : 78043109

MLS Id : AR26100175

Lot Size : 12,685 Sqft

Living Area Size : 7,222

Year Built : 1963

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer
Interior Features

Roof: Asphalt Interior Features: Ceiling Fan(s) Property Appliances: Gas Range,Refrigerator Fireplace: None Flooring: Laminate,Vinyl,Wood
Cooling Features

Wall/Window Unit(s) Air Conditioning

Heating Source

Wall Furnace Has Heating

Fireplace

Fireplace Features: None Has Fireplace: 0

Building Information

Year Built: 1963 Building Area Total: 7,222 Roof: Asphalt
Accessibility Features

None

Pool Features

None

Laundry Features

Common Area

Fencing

Wrought Iron

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.2912
Lot Size Source: Assessor Lot Size Square Feet: 12685

Listing Price Information

Original List Price: 2,850,000 Listing Contract Date: 2026-05-07
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 5731006024

Garage and Parking

Garage Description: Attached Carport,Assigned,Carport,Detached Carport

Homeowners Association
Rental Info

Lease Term: Negotiable Tenant Pays: Electricity,Gas

Other Property Info

Source Listing Status: Active Source Neighborhood: 645 - Pasadena (NW) Directions: 2 blocks east of Los Robles Ave, 1 block north of Villa St Source Property Type: Residential Income Area: 645 - Pasadena (NW) Property SubType: Apartment
Building and Construction

Property Age: 63 Common Walls: 2+ Common Walls Property Condition: Repairs Cosmetic Structure Type: Apartment Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Property Attached: Yes Levels or Stories: Two Building Total Stories: 2

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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
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 06/05/2026 @ 19:14

MLS: AR26100175 LISTED BY: Handoko Chen, Growth Investment Group Pasade 626-594-4900 SOURCE: CRMLS