RealKey
‪(213) 433-7766‬

562 N Madison Avenue, Pasadena, California 91101, Pasadena, 91101 - 5 bed, 3 bath

562 N Madison Avenue, Pasadena, California 91101 home-pic-0
ACTIVE$1,200,000
562 N Madison Avenue, Pasadena, California 91101
5Beds
3Baths
2,204Sqft
13,181Lot
Year Built
1924
Close
-
List price
$1.2M
Original List price
$1.4M
Price/Sqft
$544
HOA
-
Days on market
-
Sold On
-
MLS number
DW25027818
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(33th), sqft - 2204(50th), beds - 5(67th), baths - 3(67th).

Positioned in one of Pasadena’s most desirable neighborhoods, 562 N. Madison Ave. presents an exceptional opportunity that is IDEAL for owner-occupiers, investors and/or builders alike. The property boasts two distinct units, including one very large 4-bedroom, 1 and a half-bathroom, two-story house with an expansive front and back yard and it’s own parking area. The second unit is a stand-alone very charming and good sized 1-bedroom, 1-bathroom. Both are currently occupied by reliable tenants with a history of timely payments. Its 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! 562 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 1924, this property is 100 years old. While it appears to be maintained and is currently occupied, the kitchen and bathrooms are significantly outdated, featuring older appliances, laminate/vinyl countertops, basic fixtures, and dated tile/linoleum flooring. The property analysis explicitly notes that it 'may require significant updates to systems (e.g., plumbing, electrical) and general maintenance.' This indicates that major components likely require substantial repairs and rehabilitation to meet current standards, aligning with the 'Poor' condition criteria rather than merely 'Fair' which implies only minor updates.
Pros & Cons

Pros

Prime Pasadena Location: Situated in one of Pasadena’s most desirable neighborhoods, offering excellent access to top-rated schools, unparalleled city amenities, and strong tenant demand.
Established Income-Generating Duplex: Comprises two distinct units, both currently occupied by reliable, paying tenants, providing immediate and stable rental income for investors.
Significant ADU & Development Potential: The property offers clear Accessory Dwelling Unit (ADU) potential and sits on a substantial 13,181 sqft lot, presenting opportunities for expansion or additional income streams.
Versatile Investment Opportunity: Ideal for a wide range of buyers, including owner-occupiers seeking rental income, investors expanding their portfolio, or builders looking for development potential.
Historic Charm & Large Private Yards: Built in 1924, the property boasts historic charm and includes expansive front and back yards, enhancing its appeal and usability.

Cons

Age of Property & Potential for Updates: Constructed in 1924, the property may require significant updates to systems (e.g., plumbing, electrical) and general maintenance, which could incur substantial costs for a new owner.
Low Bathroom Count in Main Unit: The primary 4-bedroom unit features only 1.5 bathrooms, which is a low ratio for a property of its size and could be a functional limitation for larger families or multiple occupants.
Recent Price Reduction: A notable reduction from the original list price ($1.4M to $1.2M) suggests the property may have been initially overpriced or faced market resistance, potentially indicating a need for further market adjustment or a perceived lack of value at the higher price point.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state