570 N Madison, Pasadena, CA 91101
Local realty services provided by:Better Homes and Gardens Real Estate Oak Valley
570 N Madison,Pasadena, CA 91101
$2,850,000
- - Beds
- - Baths
- 7,222 sq. ft.
- Multi-family
- Active
Listed by: handoko chen
Office: growth investment group pasade626-594-4900
MLS#:AR26100175
Source:CRMLS
Price summary
- Price:$2,850,000
- Price per sq. ft.:$394.63
About this home
Beautifully Maintained 9-units Value-add Mid-Century-Modern apartment several blocks north of Old Town Pasadena. Excellent Unit Mix, Large 12,685 SF Lot, can do ±9 ADUs, Excellent going-in CAP Rate with High Proforma CAP Rate, Many CapEX recently completed!
A very well-maintained 9-unit value-add apartment 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 high-priced bungalows/single family houses. The investment offers a high 5.7% CAP Rate making this a very attractive investment on day 1.
The property is a garden style walk-up 2 story apartment with excellent curb appeal. It has undergone various capital improvements which includes new exterior paints, new reasphalt driveway, and others. It offers superb unit mix with two (2) x 3bed+1bath and seven (7) x 2bed+1bath units, making it an easy unit mix to rent out. The property was built in 1963, has a total of ±7,222 SF building size and is situated on a large ±12,685 SF lot. Based on the building size, each unit averages about 802SF/unit (buyer to verify). Each unit is unique with distinct Mid-Century-Modern architectural layout with open floor settings, floor to ceiling windows, and many more attractive design features.
All the ground floor units have private patio (buyer to verify). Approximately 3 units have been updated with luxury wood flooring, updated kitchen (quartz countertops, new kitchen cabinet), and updated bathroom complete with tiled bathroom wall and glass shower door. There is a large and spacious common area deck above the middle carport for tenants common area. Recent study shows that a sophisticated buyer may be able to add NINE (9) ADUs in the back area (buyer to verify!).
Parking is provided via 9 carports (3 on the side and 6 in the back). There is no living space above carports which means the property does not need any soft story retrofit. Each unit is separately metered for electricity and gas. The property has a shared laundry room.
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....
Contact an agent
Home facts
- Year built:1963
- Listing ID #:AR26100175
- Added:1 day(s) ago
- Updated:May 08, 2026 at 01:40 AM
Rooms and interior
- Flooring:Laminate, Vinyl, Wood
- Kitchen Description:Gas Range, Refrigerator
- Living area:7,222 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Wall Furnace
Structure and exterior
- Roof:Asphalt
- Year built:1963
- Building area:7,222 sq. ft.
- Lot area:0.29 Acres
- Lot Features:Landscaped, Level with Street, Near Public Transportatn, Rectangular Lot, Street Level
- Architectural Style:Mid Century Modern
- Levels:2 Story
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$2,850,000
- Price per sq. ft.:$394.63
Features and amenities
- Appliances:Gas Range, Refrigerator
- Laundry features:Common Area
- Amenities:Ceiling Fans
Parking
- Total parking spaces:9
- Parking description:9 Carport Space(s), Assigned, Attached Carport, Carport, Detached Carport
- Carport spaces:9
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