175 S Madison Ave | Pasadena, CA 91101
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- LoopNet Team
175 S Madison Ave
Pasadena, CA 91101
Multifamily Property For Sale
·
22 Units
INVESTMENT HIGHLIGHTS
- Prime Location within the Playhouse District
- Property Features Ample Subterranean Parking, Secure Entry, Swimming Pool, On-Site Laundry Facilities, Mature Well-Maintained Landscaping, Courtyard L
- 3.87% Cap Rate on Current Rents | 5.08% Cap Rate on Market Rents
- Excellent Unit Mix of Spacious One- & Two-Bedroom Floorplans – Average Unit Size of 826 Square Feet
- Value-Add Opportunity – Approximately 19% Rental Growth to Achieve Market Rents – Additional Upside through Interior and Exterior Renovations
- Strong Demographics with ±$109,756 Average Household Income within a 1-Mile Radius
PROPERTY FACTS
| No. Units | 22 | Lot Size | 0.39 AC |
| Property Type | Multifamily | Building Size | 18,162 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1960 |
| Zoning | PSC- | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 18,162 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Zoning | PSC- |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,635 | 627 |
| 2+1 | 8 | $1,948 | 800 |
| 2+2 | 8 | $1,995 | 1,000 |
PROPERTY TAXES
| Parcel Number | 5734-012-028 | Improvements Assessment | $2,536,287 |
| Land Assessment | $5,900,316 | Total Assessment | $8,436,603 |
PROPERTY TAXES
Parcel Number
5734-012-028
Land Assessment
$5,900,316
Improvements Assessment
$2,536,287
Total Assessment
$8,436,603
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