REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,850,000
Est. payment /mo
New
570 N Madison Pasadena, CA 91101
5 Beds
2 Baths
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 AR26100175
Bedrooms 5
Lot Size 0.291 Acres
Property Sub-Type Res Income 2-4 Units
Property 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 appeal. 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
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
Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade
NEARBY SCHOOL & BUSINESS