Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.
Property Details
Property Features
Property Information:
Year Built: 1955
Stories: 0
Living Area: 7,142 SqFt
Listing Office:
Office Name: Realty Investment Advisors, Inc.
Listing Agent: Alexander Metaxas
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 14
Exterior Features
Parking Information:
Attached Garage: Yes
Parking: Attached Carport, Detached Carport
Lot Features
Lot Information:
Lot Size: 0.29 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Other
Directions Information:
Directions: East on Colorado Blvd, South on Madison Ave
Price Information
Listing Price Info
Price Summary:
List Price: $3,650,000
Price Per SqFt: $511/SqFt
Tax Information:
Annual Amount: $30,423
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Pasadena, CA.
This property is $2.4M more than the Median Sold Price and $254/SqFt less than other homes in Pasadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24464165
Listing Office:
Office Name: Realty Investment Advisors, Inc.
Listing Agent: Alexander Metaxas
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/17/2024, 5:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$30,423
$2,626,908
2020
$29,301
$2,597,835
2019
$29,830
$2,546,898
2018
$33,612
$2,496,960
2017
$33,612
$2,815,200
History based on county public records data.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$18.2K
Per Month
Principal & Interest
$18.2K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$11K
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
Madison Elementary School
515 E Ashtabula St
Distance between this listing and this school1.16 miles
Public District Grades PK-5
6
/10
Hamilton Elementary School
2089 Rose Villa St
Distance between this listing and this school1.81 miles
Public District Grades PK-5
6
/10
Longfellow Elementary School
1065 E Washington Blvd
Distance between this listing and this school1.95 miles
Public District Grades PK-5
Nearby Schools
3
/10
McKinley School
325 S Oak Knoll Ave
Distance between this listing and this school0.26 miles
Public District Grades KG-8
4
/10
Washington STEAM Multilingual Academy
1505 N Marengo Ave
Distance between this listing and this school2.09 miles
Public District Grades 6-8
9
/10
Henry E. Huntington Middle School
1700 Hntngtn Dr
Distance between this listing and this school2.18 miles
Public District Grades 6-8
Nearby Schools
2
/10
Rose City High (Continuation)
351 S Hudson Ave
Distance between this listing and this school0.29 miles
Public District Grades 9-12
5
/10
Blair High School
1201 S Marengo Ave
Distance between this listing and this school1.18 miles
Public District Grades 6-12
6
/10
Marshall Fundamental
990 N Allen Ave
Distance between this listing and this school2.07 miles
The neighbors living near this home have an average income of $77,656. The most common annual income of people living in Pasadena, CA is between $35k-100k. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 199 S Madison Ave
What is the listing price of this property?
The listing price of 199 S Madison Ave property is $3,650,000.
What type of property is this?
The property 199 S Madison Ave is a house located in Pasadena, California, 91101.
Is this property for sale now?
Active Listing: 199 S Madison Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $30,423 (source: MLS/based on county public records data).
How many bedrooms and bathrooms does this property have?
The property at 199 S Madison Ave has 14 bedrooms and 12 bathrooms.
What is the square footage of this property?
The property 199 S Madison Ave is 7,142 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 199 S Madison Ave is 1955.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 199 S Madison Ave in Pasadena, CA and zip code 91101 in the The Verdugos neighborhood. This 7,142 square foot home, which was built in 1955, sits on a 0.29 acre lot. Features: 14 bedrooms, 12 bathrooms. It has been listed on Rocket Homes since November 16, 2024 and is currently priced at $3,650,000.
While more than 38 listings in Pasadena, CA in October 2024 were sold above asking price, there were more than 10 listings sold at asking price, and more than 37 were sold below. Between September 2024 and October 2024, Pasadena, CA real estate market has seen increase in the number of listings by 4.4%. In October 2024, listings were on the market for 40 days. During the same period, the median list price in this real estate market was $1,204,134.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Art Museums
Art Museums
Music Concerts
Major League Soccer (MLS)
Bloomingdales
H&M
Banana Republic
Starbucks
Chipotle
Jack In The Box
Audi
Volkswagen
Toyota
News
Rhythmic Contemporary Hits
Jazz