Madison Apartments
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Madison Apartments
6 Multifamily Properties Offered at $11,999,999 in Pasadena, CA
Investment Highlights
- Phenomenal Pasadena Location just North of the 210 - 6 Separate Properties Sitting on Adjacent Parcels
- Major Value-Add Potential with construction of ADUs - Build to an 7.65%+ cap rate and $340,749 per unit!
- Mills Act Eligible - would significantly decrease property taxes
- Massive 77,460 Sq Ft. Total Lot Size - Low Building to Land Ratio
- Enjoy In-place Income While you Build up to 25 ADU(s) Per Law SB 1211 - Rental upside still to be captured with current tenants
- Flexible Opportunity to Acquire one or multiple lots - Can be sold together or separate.
Executive Summary
Ally Commercial Real Estate is excited to present an exceptional investment opportunity to acquire a legacy property in a premier Pasadena location. Located at
514-570 N Madison, this offering includes six contiguous parcels totaling 77,460 square feet of land. Currently, the property features 25 existing units, primarily bungalows, across a combined building footprint of 19,506 square feet.
The low building-to-land ratio creates a significant opportunity for a visionary investor or developer to unlock the full potential of the site through extensive ADU development. According to the provided land use study, there is potential to add 25 new ADUs across the property. This would bring the total units to 50, with a price of $340,749 per unit and a 7.65% CAP RATE — a significant value for a prime Pasadena location with half of the units being of brand new construction. This development could nearly triple gross income, offering multiple exit strategies or establishing a valuable legacy asset for long-term investment. Can be sold together or separate.
514-570 N Madison, this offering includes six contiguous parcels totaling 77,460 square feet of land. Currently, the property features 25 existing units, primarily bungalows, across a combined building footprint of 19,506 square feet.
The low building-to-land ratio creates a significant opportunity for a visionary investor or developer to unlock the full potential of the site through extensive ADU development. According to the provided land use study, there is potential to add 25 new ADUs across the property. This would bring the total units to 50, with a price of $340,749 per unit and a 7.65% CAP RATE — a significant value for a prime Pasadena location with half of the units being of brand new construction. This development could nearly triple gross income, offering multiple exit strategies or establishing a valuable legacy asset for long-term investment. Can be sold together or separate.
Data Room Click Here to Access
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 570 N Madison Ave, Pasadena, CA 91101 | Multifamily | 21,344 SF | 1963 | - |
| 514 N Madison Ave, Pasadena, CA 91101 | Multifamily | 2,156 SF | 1937 | - |
| 526 N Madison Ave, Pasadena, CA 91101 | Multifamily | 3,326 SF | 1940 | - |
| 536 N Madison Ave, Pasadena, CA 91101 | Multifamily | 2,448 SF | 1923 | - |
| 542 N Madison Ave, Pasadena, CA 91101 | Multifamily | 2,150 SF | 1921 | - |
| 562 N Madison Ave, Pasadena, CA 91101 | Multifamily | 2,204 SF | 1921 | - |
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