18
See all 18 photos
$3,650,000
Est. payment /mo
14 BD
12 BA
7,142 SqFt
Active
199 S Madison AVE Pasadena, CA 91101
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UPDATED:
12/05/2024 05:15 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,142 sqft
Price per Sqft $511
MLS Listing ID 24464165
Bedrooms 14
HOA Y/N No
Year Built 1955
Lot Size 0.294 Acres
Property Description
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.
Location
State CA
County Los Angeles
Area 648 - Pasadena (Se)
Zoning PSR4
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Parking Features Attached Carport, Detached Carport
Attached Garage Yes
Total Parking Spaces 10
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5734010037
Special Listing Condition Standard
Listed by Alexander Metaxas • Realty Investment Advisors, Inc.