542 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - 5 bed, 4 bath

542 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,525,000
542 N Madison Avenue, Pasadena, California 91101
5Beds
4Baths
2,150Sqft
13,208Lot
Year Built
1921
Close
-
List price
$1.52M
Original List price
$1.8M
Price/Sqft
$709
HOA
-
Days on market
-
Sold On
-
MLS number
DW25027864
Home ConditionFair
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.52M(67th), sqft - 2150(33th), beds - 5(67th), baths - 4(67th).

Positioned in one of Pasadena’s most desirable neighborhoods, 542 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts three distinct bungalow-style units, including one very large 2-bedroom, 2-bathroom unit, one 1-bedroom, 1-bathroom and one 2-bedroom, 1-bathroom unit. 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! 542 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 1921, this property shows signs of regular maintenance and some updates, particularly in the kitchens and bathrooms. The kitchens feature white shaker cabinets, dark countertops, stainless steel appliances, and subway tile backsplashes, suggesting renovations likely 10-20 years ago. Bathrooms are functional with updated vanities and some subway tile. Hardwood floors are present and appear well-maintained. However, the overall aesthetic is dated, and the age of the building implies that major systems (plumbing, electrical, HVAC) are likely older and may require significant future investment, aligning with the 'aged but maintained' and 'functional but outdated' characteristics of a 'Fair' condition.
Pros & Cons

Pros

Prime Pasadena Location: Situated in a highly desirable Pasadena neighborhood, offering proximity to top-rated schools, extensive amenities, and a robust community environment, ensuring strong tenant demand and property value.
Established Income Property: A well-configured triplex with three distinct bungalow units, all currently occupied by reliable, long-term tenants, providing immediate and stable rental income.
ADU Potential & Development Flexibility: The property offers significant Accessory Dwelling Unit (ADU) potential on a generous 13,208 sqft lot, appealing to investors, owner-occupiers, and builders seeking future expansion or value-add opportunities.
Strong Market Fundamentals: Benefits from Pasadena's excellent educational institutions, diverse cultural attractions, strong job market, and overall high quality of life, contributing to sustained property appreciation and tenant retention.
Historic Charm & Investment Appeal: Built in 1921, the property possesses historic bungalow charm combined with strong financial potential, making it an attractive asset for those seeking character and long-term investment growth.

Cons

Significant Price Adjustment: A substantial reduction from the original list price ($1.8M to $1.525M) suggests potential initial overpricing or market resistance, which may prompt buyer scrutiny regarding valuation or undisclosed issues.
Age-Related Maintenance & Systems: As a 1921-built property, it likely requires ongoing maintenance and may have original or outdated systems (e.g., plumbing, electrical, HVAC) that could necessitate future capital expenditures for repairs or modernization.
Undisclosed Unit Condition: While occupied, the description lacks specific details on the current interior condition or recent upgrades of the individual units, potentially implying a need for significant renovation to maximize rental income or appeal to modern tenants/owner-occupiers.

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