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
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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 $256/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: 12/18/2024, 5:15:57 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.
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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. Typical income of Pasadena, CA residents is between $35k-100k annually. Typical family type 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.
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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.
Over 43 listings were sold over their listed price in November 2024 in Pasadena, CA. In the same period over 21 listings were sold below the listed price and 13 listings were sold for the listed price. Between October 2024 and November 2024, Pasadena, CA real estate market has seen decrease in the number of listings by 9.9%. While the average time on the market in November 2024 was 32 days, the median list price was $1,212,217.
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. 
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