542 N Madison, Pasadena, California 91101, Pasadena, 91101 - 0 bed, 0 bath
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Pasadena, California 91101
This Residential Income Triplex represents a strategic acquisition in a high-demand rental market, offered at a List Price of $1,499,000. Positioned fairly relative to its $1,444,625 Fair Market Value, the asset's primary value is driven by an expansive 13,208 SF Lot and the rare potential to add three ADUs for maximum density. Featuring three detached houses with a Condition Rating of 4, the property offers a desirable single-family feel with separate utility meters. Located blocks from Old Town Pasadena, this is a premier opportunity for Value-Add Investors or Owner-Occupants seeking a high-yield development project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 542 N Madison Subject | $1,499,000* List Price | 0 | 0 | 2,150 | $672 | - |
A 514 N Madison Sold | $1,380,000 | 0 | 0 | 2,156 | $640 | 0.0 mi |
B 562 558 N Madison Sold | $1,210,000 | 0 | 0 | 2,204 | $549 | 0.0 mi |
C 536 N Madison Sold | $1,330,000 | 0 | 0 | 2,448 | $543 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1923, this triplex is a mix of updated and dated spaces. While the back unit features a modern renovation, the primary units contain kitchens with cabinetry and finishes likely exceeding 20 years in age. The property is functional and tenant-occupied but requires cosmetic updates and minor repairs to the exterior pavement and older interiors to meet modern standards.
The expansive 13,208 SF lot provides a rare opportunity to add up to three ADUs, offering substantial upside for investors to increase density and rental income.
The layout of three separate houses offers a desirable single-family residential feel for tenants, complete with individual meters and laundry hookups, which typically commands higher rent and lower turnover.
Situated blocks from Old Town Pasadena and the Gold Line, the property boasts high walkability and excellent proximity to Caltech, PCC, and major freeways.
The property is sold with tenants in place and in as-is condition, which may complicate immediate renovations, repositioning strategies, or owner-occupancy plans.
Built in 1923, the property may require significant capital expenditure for upgrades to aging systems and structural maintenance typical of century-old buildings.
3 Houses on a large Lot - several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage - Can add 3 ADUs. 542 N Madison Ave, a Three House on a lot 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 single family houses. This property is being sold together with 5 adjacent buildings to its north and south that are own by same seller – can be purchased together or individually (514 N Madison, 526 N Madison, 536 N Madison, 562 N Madison, and 570 N Madison). The property is extremely rare with highly desirable layout providing tenants with single family residential feel. The middle house (#542) is the largest one with 2bedroom+2bathroom, the front house (#548) is a 2bedroom+1bathroom, and the back house (#544) is 1bedroom+1bathroom. This offering is perfect for an owner user that can occupy any one of the 3 houses (currently tenant occupied – seller is selling it as-is with tenant in place). The middle house is charming with original hardwood flooring, smooth ceiling, built-in cabinets, ceiling fans in bedroom and living room. The back house has been updated with modern flooring, new kitchen and stainless steel appliances, and new bathroom. The property has 13,208 SF lot size providing plenty of open spaces and parking (est. 6 parking spaces or more). Because of this configuration, there is a clear and huge upside for new owners to add 2 or more ADUs (buyer to verify). Parking is provided via 6 open space spread out on the lot. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups. The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,150 | 2,156 | 43% |
| Lot Size | 13,208 | 11,998 | 86% |
| Price | $1.50M | $1.21M | 86% |
| Price per sq ft | $697 | $549 | 71% |
| Built year | 1923 | 1924 | 43% |
| HOA | $0 | $0 | 50% |
| Days on market | 46 | 213 | 14% |
Apr 21, 2026
$1,499,000
Initial Listing
Apr 15, 2022
$8,400,000
Public Record