562 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - bed, bath

562 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,200,000
562 N Madison Avenue, Pasadena, California 91101
0Bed
0Bath
2,204Sqft
13,185Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Pasadena Location: Situated in one of Pasadena's most desirable neighborhoods, offering proximity to top-rated schools, expansive parks, cultural attractions, a robust job market, and excellent healthcare facilities.
Top Cons:
Age of Property & Potential Updates: Built in 1924, the property, despite its historic charm, likely requires significant investment for modernization, system upgrades, and potential deferred maintenance to meet contemporary standards.

Compared to the nearby listings

Price:$1.20M vs avg $1.21M ($-10,000)33%
Size:2,204 sqft vs avg 2,204 sqft50%
Price/sqft:$544 vs avg $54450%

More Insights

Built in 1924 (101 years old).
Condition: Built in 1924, this property is significantly aged, and the images confirm that the kitchens and bathrooms are severely outdated, requiring complete renovation. Both units feature older cabinets, basic laminate or tile countertops, white/older appliances, and dated fixtures and flooring. While the property is currently tenant-occupied and livable, it requires substantial rehabilitation and modernization of major systems and finishes to meet contemporary standards, as also noted in the property analysis regarding 'significant investment for modernization, system upgrades, and potential deferred maintenance'.
Year Built
1924
Close
-
List price
$1.2M
Original List price
$1.4M
Price/Sqft
$544
HOA
-
Days on market
-
Sold On
-
MLS number
DW25024779
Home ConditionPoor
Features
View-

About this home

Positioned in one of Pasadena’s most desirable neighborhoods, 562 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts two distinct units, including one very large 4-bedroom, 1 and a half-bathroom, two-story house with an expansive front and back yard and it’s own parking area. The second unit is a stand-alone very charming and good sized 1-bedroom, 1-bathroom. Both are currently occupied by reliable tenants with a history of timely payments. Its prime location, ADU potential, 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! 562 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
Poor

Built in 1924, this property is significantly aged, and the images confirm that the kitchens and bathrooms are severely outdated, requiring complete renovation. Both units feature older cabinets, basic laminate or tile countertops, white/older appliances, and dated fixtures and flooring. While the property is currently tenant-occupied and livable, it requires substantial rehabilitation and modernization of major systems and finishes to meet contemporary standards, as also noted in the property analysis regarding 'significant investment for modernization, system upgrades, and potential deferred maintenance'.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena's most desirable neighborhoods, offering proximity to top-rated schools, expansive parks, cultural attractions, a robust job market, and excellent healthcare facilities.
Income-Generating Duplex: The property features two distinct units, both currently occupied by reliable tenants with a history of timely payments, providing immediate and stable rental income.
ADU Potential & Large Lot: Significant ADU (Accessory Dwelling Unit) potential on a substantial 13,185 sqft lot, offering considerable value-add opportunities and future income generation.
Versatile Investment Opportunity: Ideal for a broad range of buyers, including owner-occupiers, investors, and builders, enhancing its market appeal and long-term financial potential.
Recent Price Adjustment: A notable $200,000 reduction from the original list price ($1.4M to $1.2M) presents a more attractive entry point and increased value proposition for potential buyers.

Cons

Age of Property & Potential Updates: Built in 1924, the property, despite its historic charm, likely requires significant investment for modernization, system upgrades, and potential deferred maintenance to meet contemporary standards.
Tenant Occupancy for Owner-Occupiers: While beneficial for investors, existing tenant occupancy in both units could complicate immediate move-in plans for an owner-occupier, requiring adherence to tenant rights and potential eviction processes.
Limited Bathrooms in Main Unit: The main 4-bedroom house features only 1.5 bathrooms, which may be considered insufficient for modern family living and could necessitate costly renovations to add more facilities.

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