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

514 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,777,000
514 N Madison Avenue, Pasadena, California 91101
0Bed
0Bath
2,156Sqft
12,002Lot
Year Built
1937
Close
-
List price
$1.78M
Original List price
$2.1M
Price/Sqft
$824
HOA
-
Days on market
-
Sold On
-
MLS number
DW25024692
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.78M(67th), sqft - 2156(33th), beds - undefined(50th), baths - undefined(50th).

Positioned in one of Pasadena’s most desirable neighborhoods, 514 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts four bungalow-style units which include four 1-bedroom, 1-bathroom units. All are currently occupied by reliable tenants with a history of timely payments. The property’s 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! 514 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Built in 1937, the property's interiors, particularly the kitchens and bathrooms, are significantly outdated. Kitchens feature older white appliances, laminate countertops, and dated cabinetry, while bathrooms show basic, older fixtures and tiling. The property analysis explicitly notes the need for 'significant capital expenditure for system upgrades (plumbing, electrical) and general deferred maintenance' due to its age. While currently tenant-occupied, it requires substantial rehabilitation to meet modern living standards and address potential underlying system issues.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena's most desirable neighborhoods, offering access to top-rated schools, cultural attractions, and a robust job market, ensuring strong tenant demand and property value.
Established Income Property: A quadruplex with four 1-bedroom, 1-bathroom units, all currently occupied by reliable tenants with a history of timely payments, providing immediate and stable rental income.
ADU Potential: Explicitly highlighted ADU potential offers a significant opportunity for value addition, increased rental income, and enhanced property utility.
Versatile Investment Opportunity: Ideal for owner-occupiers, investors, and builders, appealing to a broad market segment seeking residential income, development, or a multi-generational living solution.
Generous Lot Size: A substantial 12,002 sqft lot provides ample space for potential expansion, landscaping, or further development, complementing the ADU potential.

Cons

Age of Property: Built in 1937, the property may require significant capital expenditure for system upgrades (plumbing, electrical) and general deferred maintenance to meet modern standards and tenant expectations.
Unit Configuration: All four units are 1-bedroom, 1-bathroom, which may limit the tenant demographic and potentially restrict rental income growth compared to properties with larger unit types.
Price Adjustment History: A notable reduction from the original list price of $2.1M to $1.777M suggests a market correction or previous overvaluation, potentially indicating buyer resistance at higher price points.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state