Listing provided courtesy of Alexander Metaxas of Realty Investment Advisors, Inc.. Last updated 2024-11-27 09:11:20.000000. Listing information © 2024 Sandicor.
Asking Price: $3,650,000
199 Madison, Pasadena CA 91101
Community: 648 - Pasadena (SE)
This property was built in 1955 and is priced at $3,650,000. Please see the additional details below.
Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.
