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4 Single Story Bungalows on Large Lot 526 N Madison Ave 4 Unit Apartment Building $2,119,935 CAD ($529,984 CAD/Unit) 4.81% Cap Rate Pasadena, CA 91101
Investment Highlights
- 4 Single-story Bungalows several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage.
- SUPERB demographics with ±$111,562 average household income within a 1-mile radius
- Excellent mix with 2bed and 1bed units; Super easy to rent and manage
- Perfect for an owner user or a first-time home/apartment investor; 2 units have been upgraded, 1 unit will be delivered vacant
- Highly desirable 4 separate single-story bungalows on a large lot size (±13k SF)
- Charming units with original hardwood floor, plenty of built-in cabinets, and laundry hookups; end unit is a larger 2bed unit.
Executive Summary
1 largest unit (#526) is moving out and will be delivered vacant! 4 Single-story Bungalows several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage, Clear ADUs Upside (4 ADUs), 2 units upgraded.
Growth Investment Group California is proud to offer 526-532 N Madison Ave, a bungalow style 4-units Single story apartment in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, 2 blocks west of Los Robles Ave, and just within walking distance of many dining, shopping, and other attractions in Pasadena. It is situated on a quiet residential street surrounded by single family houses. The property offers a highly desirable bungalow single-story layout (no adjoining walls) providing tenants with single family residential feel. It consists of 4 separate bungalows with a lush center courtyard/walkway providing serene atmosphere for the tenants.
The unit mix is one (1) x 2bedroom+1bathroom and three (3) 1bedroom+1bathroom units, which makes it very easy to rent and manage. The property was built in 1940, has a total of ±3,326 SF building size (Average unit size is 830SF/unit) and is situated on a large ±13,185 SF lot. Each unit is charming with original hardwood flooring, ceiling fans, plenty of built in cabinets, tiled kitchen and bathroom, and in-unit laundry hookups. The front 1 bedroom unit #532 was recently leased for $2450/month. Two units (#532 and #530) have been upgraded with brand new kitchen and updated bathroom.
Parking is provided via detached 3 car garages and 1 open space in the back. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups.
Growth Investment Group California is proud to offer 526-532 N Madison Ave, a bungalow style 4-units Single story apartment in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, 2 blocks west of Los Robles Ave, and just within walking distance of many dining, shopping, and other attractions in Pasadena. It is situated on a quiet residential street surrounded by single family houses. The property offers a highly desirable bungalow single-story layout (no adjoining walls) providing tenants with single family residential feel. It consists of 4 separate bungalows with a lush center courtyard/walkway providing serene atmosphere for the tenants.
The unit mix is one (1) x 2bedroom+1bathroom and three (3) 1bedroom+1bathroom units, which makes it very easy to rent and manage. The property was built in 1940, has a total of ±3,326 SF building size (Average unit size is 830SF/unit) and is situated on a large ±13,185 SF lot. Each unit is charming with original hardwood flooring, ceiling fans, plenty of built in cabinets, tiled kitchen and bathroom, and in-unit laundry hookups. The front 1 bedroom unit #532 was recently leased for $2450/month. Two units (#532 and #530) have been upgraded with brand new kitchen and updated bathroom.
Parking is provided via detached 3 car garages and 1 open space in the back. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups.
Property Facts
| Price | $2,119,935 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $529,984 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 4.81% | Building Size | 3,240 SF |
| Gross Rent Multiplier | 14.26 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Zoning | RM-16 - MEDIUM density Residential | ||
| Price | $2,119,935 CAD |
| Price Per Unit | $529,984 CAD |
| Sale Type | Investment |
| Cap Rate | 4.81% |
| Gross Rent Multiplier | 14.26 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 3,240 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | RM-16 - MEDIUM density Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Family Room
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 700 - 800 |
| 2+1 | 1 | - | 800 - 1,000 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5731-006-013 | Improvements Assessment | $536,117 CAD |
| Land Assessment | $1,608,355 CAD | Total Assessment | $2,144,472 CAD |
Property Taxes
Parcel Number
5731-006-013
Land Assessment
$1,608,355 CAD
Improvements Assessment
$536,117 CAD
Total Assessment
$2,144,472 CAD
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4 Single Story Bungalows on Large Lot | 526 N Madison Ave
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