239 S Madison Ave, a beautifully upgraded multifamily investment opportunities located in one of the best locations in Pasadena. Strategically located only a block south of Pasadena Playhouse District, several blocks South of OLD TOWN PASADENA, and within walking distance to Pasadena Convention Center and Lake Ave shopping district – including recently opened Erewhon market on Lake Ave, this community offers superb location and amenities to tenants. Walk Score 89, Bike Score 82. The property is a two-story garden style apartment that has been extensively remodeled. The current owner did not take any shortcut in completing major capital improvements such as brand-new roof (2022), parking soft story retrofit, new asphalt driveway, fully upgraded 14 units with high-end upgrades and brand-new plumbing, brand new landscaping, new exterior paint, updated gate, new high-end Butterfly entry system (intercom + camera for package delivery), new mailboxes, new hand railing system, new irrigation system and other significant improvements. With the major capital improvements completed, this offering provides plug-and-play easy to manage apartment in an amazing location. The property was built in 1951 with a center courtyard layout and spacious units. It has a large living space of ±17,570 SF (per assessor) and sits on a large ±19,986 HIGH Density R4/RM-48 lot. Due to its high-density zoning, by law the lot can support up to 22 units before any bonus density which translates to prospective junior ADU in the future. It offers a good unit mix of eighteen (18) large 1bedroom+1bathroom, and three (3) spacious studio units. Fourteen out of 21 units have been fully upgraded. Fourteen units were upgraded high end finishes such as: brand new plumbing in the unit, wide plank flooring, smooth ceiling, recessed lighting, brand new kitchen with quartz countertops and modern cabinetry, stainless steel appliances, brand new bathroom with glass sliding doors, stacked-up laundry machine, and mini-split A/C system. Each unit has an individual water heater and separately metered for electricity and gas. There is an in-place RUBS system for new leases. Parking is provided via a combination of tuck-under parking and a detached carport. There is a total of 21 spaces providing 1 parking per unit. There is an additional shared laundry room for the community, and a storage room for the owner.
Property Details
Property Features
Property Information:
Architectural Style: Mid-Century Modern
Year Built: 1951
Stories: 2
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
Interior Features
Interior Information:
Appliances: Dishwasher, Gas Range, Refrigerator, Range Hood, Dryer, Washer
This property is $8.0M more than the Median Sold Price in Pasadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #AR24143469
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
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, 6:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Dec 17, 2020
Dec 17, 2020Home Sold
$6,800,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$77,551
$6,850,000
2020
$11,279
$658,769
2019
$11,053
$645,853
2018
$10,907
$633,191
2017
$10,907
$620,777
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 school1.21 miles
Public District Grades PK-5
6
/10
Hamilton Elementary School
2089 Rose Villa St
Distance between this listing and this school1.80 miles
Public District Grades PK-5
5
/10
San Rafael Elementary School
1090 Nithsdale Rd
Distance between this listing and this school2.00 miles
Public District Grades KG-5
Nearby Schools
3
/10
McKinley School
325 S Oak Knoll Ave
Distance between this listing and this school0.22 miles
Public District Grades KG-8
9
/10
Henry E. Huntington Middle School
1700 Hntngtn Dr
Distance between this listing and this school2.14 miles
Public District Grades 6-8
4
/10
Washington STEAM Multilingual Academy
1505 N Marengo Ave
Distance between this listing and this school2.14 miles
Public District Grades 6-8
Nearby Schools
2
/10
Rose City High (Continuation)
351 S Hudson Ave
Distance between this listing and this school0.26 miles
Public District Grades 9-12
5
/10
Blair High School
1201 S Marengo Ave
Distance between this listing and this school1.14 miles
Public District Grades 6-12
6
/10
Marshall Fundamental
990 N Allen Ave
Distance between this listing and this school2.11 miles
The neighbors living near this home have an average income of $77,656. Residents of Pasadena, CA typically earn between $35k-100k each year. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 239 S Madison Ave
What is the listing price of this property?
The listing price of 239 S Madison Ave property is $9,300,000.
What type of property is this?
The property 239 S Madison Ave is a condo located in Pasadena, California, 91101.
Is this property for sale now?
Active Listing: 239 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 $77,551 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on December 17, 2020 for $6,800,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 239 S Madison Ave is 1951.
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This home is located at 239 S Madison Ave in Pasadena, CA and zip code 91101 in the The Verdugos neighborhood. This home, which was built in 1951, sits on a 0.46 acre lot. It has been listed on Rocket Homes since July 12, 2024 and is currently priced at $9,300,000.
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. The inventory of homes for sale in Pasadena, CA between October 2024 and November 2024 decreased 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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