536 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - 3 bed, 3 bath

536 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,440,000
536 N Madison Avenue, Pasadena, California 91101
3Beds
3Baths
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
DW25027858
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

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

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
Fair

Built in 1923, the property's interior, particularly the kitchens and bathrooms, shows signs of being significantly outdated. While clean and functional, the kitchens feature older white appliances, laminate countertops, and dated cabinetry. Bathrooms also present older fixtures, basic vanities, and older tile styles, suggesting renovations that are likely 20-30+ years old. The property is well-maintained for its age, and the exterior retains historic charm, but the interior spaces require substantial cosmetic updates to meet modern standards and appeal.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena’s most desirable neighborhoods, offering proximity to top-rated schools, robust job market, cultural attractions, and a safe, community-oriented environment, enhancing tenant demand and property value.
Income-Generating Triplex: Comprises three distinct units (2-bed, 1-bed, studio) currently occupied by reliable tenants with a history of timely payments, providing immediate and stable rental income.
ADU Potential & Large Lot: The property boasts significant ADU (Accessory Dwelling Unit) potential and a generous 13,207 sqft lot, offering opportunities for future expansion, increased income, or enhanced property value.
Versatile Investment Opportunity: Ideal for a broad range of buyers including owner-occupiers, investors seeking portfolio expansion, or builders, due to its multi-unit structure and development potential.
Historic Craftsman Charm: The property features a beautiful craftsman-style home built in 1923, offering historic charm and architectural appeal that is highly sought after in the Pasadena market.

Cons

Age of Property: Built in 1923, the property's age may imply older infrastructure and systems (plumbing, electrical, HVAC) that could require significant capital expenditure for updates or repairs in the near future.
Significant Price Reduction: The list price has been reduced from an original $1.7M to $1.44M, which could indicate initial overpricing, market resistance, or potential underlying issues that warrant thorough due diligence.
Unspecified Interior Condition of Units: While the property is described as having 'modern convenience,' the description lacks specific details on recent renovations or updates to the individual units, suggesting some interiors may be outdated and require investment to maximize rental income or appeal.

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