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28167217
28167242

542 N Madison, Pasadena, CA 91101

HC
CA 01749321
Growth Investment Group
Listed by Growth Investment Group
$1,499,000
219 days on market
Updated 53 days ago

542 N Madison

Details
APN 5731006010
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,150
Units 3
Cap Rate 2.98%
NOI $44,681
Occupancy 100%
Pro-Forma Cap Rate 4.72%
Pro-Forma NOI $70,776
Price per SqFt $697
Broker Co-Op Yes
Class C
Year Built 1923
Year Renovated 2024
Buildings 3
Stories 1
Acreage 0.303
Zoning Assessor
Parking Spaces 6 spaces
Parking Per SqFt 2.79
Investment Type Value Add
Ground Lease No
Ownership FEE SIMPLE

Multifamily | 3 Units | $499,667/unit

Marketing description

3 Houses on a large Lot - several blocks north of Old Town Pasadena, Large 13k SF Lot, highly desirable layout, Easy to Rent and Manage - Can add 3 ADUs. 542 N Madison Ave, a Three House on a lot 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 north and south that are own by same seller can be purchased together or individually (514 N Madison, 526 N Madison, 536 N Madison, 562 N Madison, and 570 N Madison). The property is extremely rare with highly desirable layout providing tenants with single family residential feel. The middle house (#542) is the largest one with 2bedroom+2bathroom, the front house (#548) is a 2bedroom+1bathroom, and the back house (#544) is 1bedroom+1bathroom. This offering is perfect for an owner user that can occupy any one of the 3 houses (currently tenant occupied seller is selling it as-is with tenant in place). The middle house is charming with original hardwood flooring, smooth ceiling, built-in cabinets, ceiling fans in bedroom and living room. The back house has been updated with modern flooring, new kitchen and stainless steel appliances, and new bathroom. The property has 13,208 SF lot size providing plenty of open spaces and parking (est. 6 parking spaces or more). Because of this configuration, there is a clear and huge upside for

Investment highlights

INVESTMENT HIGHLIGHTS

· Prime 3 houses on a lot near Old Town Pasadena and Rose Bowl

· Perfect for an owner user or a first-time home/apartment investor

· Can add 3 ADUs

· SUPERB demographics with ±$111,562 average household income within a 1-mile radius

· Walk Score 78, Bike Score 91

· Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110

PROPERTY HIGHLIGHTS

· Highly desirable 3 single-story houses on a large lot size (±13k SF)

· Excellent mix with 2bed and 1bed units; Super easy to rent and manage

· Charming property with lush landscaping, single family houses feel to it

· Charming units with original hardwood floor, plenty of built-in cabinets, and laundry hookups

· Plenty of open space parking; no soft story retrofit is required

· Separately metered for electricity and gas

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Listing Contacts

HC
CA 01749321
Growth Investment Group
Listed by Growth Investment Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$44,681.00
$3,723.42/mo

Valuation Metrics

0
DSCR
2.98%
Cap Rate
2.98%
ROI

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