526 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - 5 bed, 4 bath

526 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,862,000
526 N Madison Avenue, Pasadena, California 91101
5Beds
4Baths
3,326Sqft
13,190Lot
Year Built
1940
Close
-
List price
$1.86M
Original List price
$2.2M
Price/Sqft
$560
HOA
-
Days on market
-
Sold On
-
MLS number
DW25027837
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.86M(67th), sqft - 3326(67th), beds - 5(67th), baths - 4(67th).

Positioned in one of Pasadena’s most desirable neighborhoods, 526 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts four bungalow-style units which include one 2-bedroom, 1-bathroom unit and three 1-bedroom, 1-bathroom units. All are currently occupied by reliable tenants with a history of timely payments. The property’s prime location, coupled with strong tenant demand and proximity to top-rated schools, solidifies its status as a standout asset in one of Pasadena’s most coveted areas. Pasadena’s unparalleled amenities further enhance the property’s value and appeal, attracting a diverse range of tenants and prospective homeowners. Renowned for its excellent educational institutions, expansive recreational parks, world-class cultural attractions, robust job market, top-tier healthcare facilities, and safe, community-oriented environment, Pasadena continues to be a highly desirable place to live, work, and invest. Whether you’re expanding your residential or commercial real estate portfolio, or looking for YOUR NEW HOME! 526 N. Madison Ave. offers a rare combination of historic charm, modern convenience, and strong financial potential, making it a truly compelling investment opportunity.

Condition Rating
Fair

The property, built in 1940, is functional and appears to be maintained for tenancy, but the kitchens and bathrooms are significantly outdated. Kitchens feature older white appliances, laminate countertops, and dated cabinets, while bathrooms have older fixtures, tiling, and vanities. While the hardwood floors in living areas are presentable, the overall interior requires substantial updates to meet modern standards. Major components are functional but show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena's most desirable neighborhoods, offering proximity to top-rated schools, cultural attractions, a robust job market, and community amenities, ensuring strong tenant demand and property value appreciation.
Income-Generating Quadruplex: Comprising four bungalow-style units (one 2-bed, three 1-bed), this property is a proven income producer with all units currently occupied by reliable tenants, providing immediate cash flow and investment stability.
Versatile Investment Opportunity: Ideal for owner-occupiers, investors, or builders, the property offers flexibility for various strategies, from long-term rental income to potential redevelopment or value-add projects.
Strong Tenant Demand: The description explicitly highlights strong tenant demand, reinforced by Pasadena's desirability as a place to live, work, and invest, minimizing vacancy risk.
Generous Lot Size: With a substantial lot size of 13,190 sqft in a prime urban area, there is potential for expansion, enhanced landscaping, or future development opportunities, subject to local zoning.

Cons

Age of Construction (1940): While possessing 'historic charm,' the 1940 build year suggests potential for outdated infrastructure, higher ongoing maintenance costs, and a need for significant capital expenditure for modernization or system upgrades to meet contemporary standards.
Significant Price Adjustment: The property has undergone a substantial price reduction from its original listing ($2.2M to $1.862M), which may indicate initial overpricing, extended market time, or perceived value issues that could deter some buyers.
Limited Unit Diversity: The unit mix of three 1-bedroom and one 2-bedroom units might cater to a narrower tenant demographic (e.g., singles, couples) and could limit overall rental income potential compared to properties with more diverse or larger unit configurations.

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