0.3 Acres Lot
0.3 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26225618
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1940
Lot Size 0.303 Acres
Property Sub-Type Quadruplex
Property Description
526-532 N Madison Ave, a 4-unit Single-story Bungalow Court in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, it is on a quiet residential street surrounded by single family houses. The property offers a highly desirable bungalow single-story layout (no adjoining walls) providing tenants with single family residential feel. It has a lush center courtyard/walkway providing serene atmosphere for the tenants. This superb value offering provides a rare opportunity for owner/user or first-time apartment investor as the largest unit/bungalow has been recently upgraded and can be delivered vacant. This property can be acquired together with 542 N Madison and was part of Madison Park Portfolio (6 total properties – 4 have been sold).
The unit mix is one (1) x 2bedroom+1bathroom (owner's unit) and three (3) 1bedroom+1bathroom units, which makes it very easy to rent and manage. The property was built in 1940, has a total of ±3,326 SF building size (Average unit size is 830SF/unit) and is situated on a large ±13,185 SF lot. Owner has spared no expense in relocating the previous tenant and then fully upgrades this owner's unit into a modern standard. This recently upgraded unit has brand new flooring throughout, fully upgraded kitchen with shaker cabinets, fully upgraded bathroom, and led lighting throughout.
Each unit is charming with original hardwood flooring, ceiling fans, plenty of built in cabinets, tiled kitchen and bathroom, and in-unit laundry hookups. The front 1 bedroom unit #532 was recently leased for $2450/month. Besides the owner's unit (#526), two additional units (532 and #530) have been upgraded with brand new kitchen and updated bathroom.
Parking is provided via detached 3 car garages and 3 open space in the back. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Wood
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Assigned, Concrete, Detached Carport, Driveway
Garage Spaces 3.0
Garage Description 3.0
Fence None
Pool None
Community Features Suburban, Valley
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N No
View None
Total Parking Spaces 4
Private Pool No
Building
Lot Description Lawn, Level, Near Public Transit, Rectangular Lot, Street Level
Faces West
Story 1
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Bungalow
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Tax ID 5731006010
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Lease Land No
NEARBY SCHOOL & BUSINESS