215 S Madison, Pasadena, CA 91101
Local realty services provided by:Better Homes and Gardens Real Estate Haven Properties
215 S Madison,Pasadena, CA 91101
$11,500,000
- - Beds
- - Baths
- 34,815 sq. ft.
- Multi-family
- Active
Listed by: ryan loria
Office: triqor group949-756-3232
MLS#:PW26122848
Source:CRMLS
Price summary
- Price:$11,500,000
- Price per sq. ft.:$330.32
About this home
Madison Luxury Apartments presents a rare opportunity to acquire a meticulously maintained 34-unit apartment community in the heart of Pasadena, ideally positioned between the highly desirable Madison Heights and Playhouse Village neighborhoods. Offered for sale for the first time since its original construction, this trophy asset features an attractive mix of spacious one-bedroom/one-bathroom and two-bedroom/two-bathroom residences with private balconies or patios, semi-subterranean parking, and a rooftop recreation area showcasing panoramic views of Old Pasadena and the San Gabriel Mountains.
The property has benefited from significant capital improvements, including a new roof (2020), all-new copper plumbing (2018), a complete low-voltage electrical rewire, remodeled elevator, security camera system, and the installation of 17 electric vehicle charging stations. Residents also enjoy access to a shared laundry facility and a location that offers an exceptional blend of convenience, lifestyle, and connectivity.
Situated just minutes from Old Pasadena and the Shops on Lake Avenue, Madison Apartments places residents within walking distance of some of Pasadena’s premier dining, shopping, entertainment, and cultural destinations. The surrounding neighborhood is characterized by tree-lined streets, historic architecture, top-rated schools, nearby parks, and convenient access to major employment centers and public transportation, supporting strong demand from a diverse and stable tenant base.
From an investment perspective, Madison Luxury Apartments offers both immediate income and long-term upside. The property currently generates strong in-place cash flow at a 5.6% cap rate, 7.4% with market rents, representing approximately 25% upside in rental income. Combining a premier Pasadena location, extensive recent upgrades, proven tenant appeal, and meaningful potential, the property represents an exceptional multifamily investment opportunity in one of Southern California’s most sought-after rental markets....
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Home facts
- Year built:1972
- Listing ID #:PW26122848
- Added:1 day(s) ago
- Updated:June 05, 2026 at 07:26 PM
Rooms and interior
- Living area:34,815 sq. ft.
Structure and exterior
- Year built:1972
- Building area:34,815 sq. ft.
- Lot area:0.44 Acres
- Lot Features:Irregular Lot
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$11,500,000
- Price per sq. ft.:$330.32
Features and amenities
- Laundry features:Common Area
Parking
- Total parking spaces:50
- Carport spaces:25
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