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

536 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,440,000
536 N Madison Avenue, Pasadena, California 91101
0Bed
0Bath
2,448Sqft
13,207Lot
Year Built
1923
Close
-
List price
$1.44M
Original List price
$1.7M
Price/Sqft
$588
HOA
-
Days on market
-
Sold On
-
MLS number
DW25024828
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.44M(67th), sqft - 2448(50th), beds - undefined(50th), baths - undefined(50th).

Positioned in one of Pasadena’s most desirable neighborhoods, 536 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts three units all within a beautiful craftsman-style home, which includes one 2-bedroom, 1-bathroom unit, one 1-bedroom, 1-bathroom and one studio. 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! 536 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Built in 1923, the property's kitchens and bathrooms are significantly outdated, featuring older cabinets, laminate countertops, white appliances, and dated tile/linoleum flooring, suggesting renovations from 30-50 years ago. While the exterior appears maintained and hardwood floors are present in living areas, the property analysis explicitly notes 'older infrastructure (plumbing, electrical, HVAC)' requiring 'significant capital investment for modernization.' This indicates a need for substantial repairs and rehabilitation beyond cosmetic updates to meet current quality standards and comfort.
Pros & Cons

Pros

Prime Location & Desirability: Positioned in one of Pasadena’s most desirable neighborhoods, offering proximity to top-rated schools, excellent educational institutions, expansive parks, cultural attractions, a robust job market, and top-tier healthcare facilities, enhancing its appeal to tenants and owners.
Income-Generating Triplex: Comprises three occupied units (2-bed, 1-bed, studio) with reliable tenants and a history of timely payments, providing immediate and stable rental income for investors.
ADU Potential & Generous Lot Size: Explicitly highlights ADU potential on a substantial 13,207 sqft lot, offering significant opportunity for increased income, expanded living space, or future development.
Historic Craftsman Charm: A beautiful craftsman-style home built in 1923, offering architectural character and historic appeal that is often highly sought after in the Pasadena market.
Versatile Investment Opportunity: Ideal for owner-occupiers, investors, and builders alike, indicating broad market appeal and flexibility for various investment strategies.

Cons

Age of Property & Potential for System Upgrades: Built in 1923, the property likely has older infrastructure (plumbing, electrical, HVAC) that may require significant capital investment for modernization, maintenance, and compliance with current standards.
Significant Price Reduction: The property has undergone a substantial price reduction from $1.7M to $1.44M, which could suggest initial overpricing, market resistance, or undisclosed issues that may warrant further investigation by potential buyers.
Lack of Specific Unit Condition Details: While tenants are reliable, the description lacks specific details regarding the interior condition, recent renovations, or current rent rolls for each unit, making it challenging to assess immediate cash flow potential or required capital expenditures without further due diligence.

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