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$2,890,000
Est. payment /mo
5 Beds
0.29 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25250939
Bedrooms 5
Lot Size 0.291 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
True Value-add 9 units several blocks north of Old Town Pasadena, Excellent Unit Mix, Large 12,685 SF Lot, 9 carport parking, Excellent going-in CAP Rate with High Proforma CAP Rate. 570 N Madison Ave, a prime value add 9-unit 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 single family houses. This property is being sold together with 5 adjacent buildings to its south that are own by same seller can be purchased together or individually (514 N Madison, 526 N Madison, 536 N Madison, 542 N Madison, and 562 N Madison). The property is a garden style walk-up 2 story apartment with excellent curb appeal. 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 average about 802SF/unit (buyer to verify). 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. 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 g
Location
State CA
County Los Angeles
Zoning Assessor
Direction 2 blocks east of Los Robles Ave, 1 block north of Villa St
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5731006024
Acceptable Financing Cash
Listing Terms Cash
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Listed by Handoko Chen Growth Investment Group Pasade
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Mary Ellen Haywood
Broker Associate | CA DRE#01264878
Broker Associate CA DRE#01264878