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442-454 S Madison Ave
Pasadena, CA 91101
28% Vacant in Madison Heights, Over 5% CAP · Multifamily Property For Sale
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7 Units
Investment Highlights
- Prime location in Madison Heights area – crossing California Blvd and few blocks south of Old Town Pasadena
- Extremely rare VALUE-ADD deal with 28% Vacancy in a Class A Location
- Large Lot size ±11,411 SF (RM-32 zoned); Efficient unit mix of mostly 1 bedroom
- Over 5% CAP Rate in a CLASS A Location (Proforma w/ market rate for the vacancy)!
- True value-add apartment building several blocks from Old Town Pasadena and Lake Ave Retail area.
Property Facts
| No. Units | 7 | Building Size | 3,833 SF |
| Property Type | Multifamily | Average Occupancy | 72% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1925 |
| Building Class | C | Parking Ratio | 1.83/1,000 SF |
| Lot Size | 0.26 AC | ||
| Zoning | R3, Pasadena | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 3,833 SF |
| Average Occupancy | 72% |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | R3, Pasadena |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
Property Taxes
| Parcel Number | 5734-018-008 | Improvements Assessment | $785,400 |
| Land Assessment | $1,713,600 | Total Assessment | $2,499,000 |
Property Taxes
Parcel Number
5734-018-008
Land Assessment
$1,713,600
Improvements Assessment
$785,400
Total Assessment
$2,499,000
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