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514 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - 4 bed, 4 bath

514 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,777,000
514 N Madison Avenue, Pasadena, California 91101
4Beds
4Baths
2,156Sqft
11,998Lot
Year Built
1937
Close
-
List price
$1.78M
Original List price
$2.1M
Price/Sqft
$824
HOA
-
Days on market
-
Sold On
-
MLS number
DW25027813
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.78M(67th), sqft - 2156(33th), beds - 4(67th), baths - 4(67th).

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Built in 1937, this quadruplex features interiors that are significantly outdated, particularly the kitchens and bathrooms. The kitchens have very old wood cabinets, laminate countertops, basic white appliances (likely original or very old replacements), and linoleum/vinyl flooring. The bathrooms feature small, old wall tiles, pedestal sinks, and basic fixtures, all indicative of a style from many decades ago. While the exterior appears well-maintained and some living areas have decent hardwood floors, the critical areas require substantial rehabilitation and modernization. The property's age and lack of apparent major renovations mean that major systems (electrical, plumbing, HVAC, and interior finishes) are likely at or past their expected lifespan, making the units uncomfortable by modern standards and requiring significant investment to update.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena's most desirable neighborhoods, offering unparalleled amenities, top-rated schools, a robust job market, and a safe, community-oriented environment, ensuring strong tenant demand and property appreciation.
Income-Generating Quadruplex: Comprises four 1-bedroom, 1-bathroom bungalow-style units, all currently occupied by reliable tenants with a history of timely payments, providing immediate and stable rental income.
ADU Potential: Explicitly highlights ADU (Accessory Dwelling Unit) potential, offering a clear path for future value addition, increased rental income, and enhanced property utility.
Versatile Investment Opportunity: Ideal for owner-occupiers, investors, and builders alike, indicating broad market appeal and flexibility for various investment strategies.
Historic Charm: Built in 1937, the property possesses historic charm, which can be a unique and appealing characteristic in the Pasadena market, attracting tenants and buyers who appreciate classic architecture.

Cons

Age of Property & Potential Maintenance: Constructed in 1937, the property's age suggests potential for outdated systems (plumbing, electrical) and higher ongoing maintenance or capital expenditure requirements compared to newer constructions.
Limited Unit Configuration: All four units are 1-bedroom, 1-bathroom, which may limit the tenant pool to singles or couples and could restrict rental income growth compared to properties offering a mix of larger unit sizes.
Lack of Specific Unit Modernization Details: The description emphasizes location and investment potential but does not detail recent interior renovations or modern amenities within the units, suggesting they may require significant upgrades to maximize rental value or attract premium tenants.

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