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Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade
$ 2,850,000
Est. payment /mo
Pending
570 N Madison Pasadena, CA 91101
0.29 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRAR26100175
Year Built 1963
Lot Size 0.291 Acres
Source California Regional MLS
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
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Rooms
Kitchen Oven Range - Gas, Refrigerator
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces, Carport , Detached Garage
Garage Spaces 9.0
Pool 31, None
View None
Roof Type 2
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5731006024
Special Listing Condition Not Applicable
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