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Rachel Hanson

rachelhansonrealty@gmail.com +1(951) 215-7772

$1,550,000

Est. payment - /mo

0.3 Acres Lot

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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

4 Single-story Bungalow Court near Old Town Pasadena, delivered with a Fully Renovated Vacant 2-Bedroom Unit, Large ±13k SF Lot, and 4-ADU Upside Potential. Can be purchased together with 542 N Madison (3 units).
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

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Listed by Handoko Chen Growth Investment Group Pasade han.chen@growthinvestmentgroup.com, DRE #01749321

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526 N Madison Pasadena, CA 91101