199 S Madison Avenue, Pasadena CA, 91101

Active

199 S Madison Avenue

Pasadena CA, 91101

$3,650,000

$511.06 per sqft

Active

14 Beds

12 Baths

7,142 sqft

Residential

Built in 1955

Listed by Alexander Metaxas with Realty Investment Advisors, Inc. 626-313-4901

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.

24464165

MLSⓇ ID

November 15, 2024

Listed

November 16, 2024

Updated

Map

199 S Madison Avenue
Pasadena CA, 91101

Interior Features

Total Stories: 2
Bedrooms: 14
Total Bathrooms: 12
Laundry Description: Common Area, Laundry Room
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Wall Furnace

Exterior/Building Features

Lot Size: 0.29 Acres

Other Property Details

Area Name: 648 - Pasadena (SE)
Garage: Yes
Parking: Attached Carport, Detached Carport
Parking Total: 10
View: No
County: Los Angeles
Pool: No
Zoning: PSR4

Listing Contact:

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/16/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 11/16/2024 at 1:19 AM UTC