526 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - bed, bath
ACTIVE$1,862,000
526 N Madison Avenue, Pasadena, California 91101
0Bed
0Bath
3,326Sqft
13,190Lot
Year Built
1940
Close
-
List price
$1.86M
Original List price
$2.2M
Price/Sqft
$560
HOA
-
Days on market
-
Sold On
-
MLS number
DW25024783
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.86M(67th), sqft - 3326(67th), beds - undefined(50th), baths - undefined(50th).
Condition Rating
Poor
Built in 1940, this quadruplex shows significant age. All four kitchens and bathrooms are extremely dated, featuring older cabinets, laminate countertops, basic white appliances, and outdated fixtures and tiling, suggesting the last major renovation occurred 30-50+ years ago. While functional, these areas require substantial rehabilitation to meet current living standards and tenant expectations. The property's advanced age and the condition of its key interior spaces necessitate major updates, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Significant Income Potential: As a quadruplex, the property offers multiple rental units, providing a strong foundation for consistent rental income and investment returns.
Desirable Pasadena Location: Situated in Pasadena, the property benefits from a highly sought-after address known for its vibrant community, amenities, and strong rental market.
Generous Lot Size: The substantial 13,190 sqft lot provides ample outdoor space and potential for future expansion or landscaping enhancements, adding value.
Attractive Price Adjustment: A significant reduction from the original list price of $2.2M to $1.862M makes the property more competitive and potentially a better value for investors.
Rare Multi-Unit Opportunity: Quadruplexes are a unique asset class, offering a manageable entry into multi-family investing with diversified income streams.
Cons
Advanced Age of Construction: Built in 1940, the property is over 80 years old, suggesting potential for aging infrastructure, systems, and the need for significant capital expenditures for updates.
Likely Renovation Requirements: Given its age and status as an income property, it's probable that the units will require substantial renovation and modernization to attract premium tenants and maximize rental yields.
Potential for High Maintenance Costs: Older multi-unit properties often incur higher ongoing maintenance and repair costs compared to newer constructions, impacting net operating income.