4 Single-story Bungalow Court near Old Town Pasadena, delivered with a Fully Renovated Vacant 2-Bedroom Unit, Large ±13k SF Lot, and 4-ADU Upside Potential.
Can be purchased together with 542 N Madison (3 units)
INVESTMENT HIGHLIGHTS
- Prime Pasadena Location: Situated in a quiet, tree-lined residential neighborhood just blocks north of Old Town Pasadena and the Rose Bowl.
- Owner-User or 1031 Exchange Ready: The large, fully renovated 2-bedroom unit can be delivered vacant, making it ideal for an owner-user or first-time investor looking to offset their mortgage.
- Massive Value-Add Potential: Situated on an expansive ±13,185 SF lot with clear upside potential for up to 4 Additional Dwelling Units (ADUs).
- Portfolio Opportunity: Can be acquired concurrently with the neighboring property at 542 N Madison for expanded scale.
- Exceptional Demographics: Features an affluent tenant base with an average household income of ±$111,562 within a 1-mile radius.
- Transit-Friendly: Boasts a Walk Score of 78 and Bike Score of 91, with superb access to the 210, 134, and 110 freeways.
PROPERTY HIGHLIGHTS
- Bungalow-Style Layout: Four separate, single-story units with no adjoining walls, offering tenants a highly desirable, quiet, single-family home feel.
- Turnkey Condition: Three of the four units have been fully upgraded with brand new kitchens, updated bathrooms, and modern finishes.
- Premium Upgrades in Owner's Unit: The vacant 2-bedroom unit features new flooring, a fully upgraded kitchen with shaker cabinets, an upgraded bathroom, and LED lighting throughout.
- Classic Charm & Modern Convenience: Units retain original hardwood flooring, ceiling fans, and built-in cabinets, alongside modern in-unit laundry hookups and separate meters for electricity and gas.
- Attractive Unit Mix: Consists of one larger 2-bedroom unit and three 1-bedroom units (averaging 830 SF per unit), ensuring ease of management and strong rental demand.
- Low-Maintenance Parking & Compliance: Includes three detached garages and one open parking space; no soft-story retrofit is required.
EXECUTIVE SUMMARY
Growth Investment Group California is proud to offer 526-532 N Madison Ave, a 4-unit Single-story Bungalow Court in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, it is on a quiet residential street surrounded by single family houses. The property offers a highly desirable bungalow single-story layout (no adjoining walls) providing tenants with single family residential feel. It has a lush center courtyard/walkway providing serene atmosphere for the tenants. This superb value offering provides a rare opportunity for owner/user or first-time apartment investor as the largest unit/bungalow has been recently upgraded and can be delivered vacant. This property can be acquired together with 542 N Madison and was part of Madison Park Portfolio (6 total properties – 4 have been sold).
The unit mix is one (1) x 2bedroom+1bathroom (owner’s unit) and three (3) 1bedroom+1bathroom units, which makes it very easy to rent and manage. The property was built in 1940, has a total of ±3,326 SF building size (Average unit size is 830SF/unit) and is situated on a large ±13,185 SF lot. Owner has spared no expense in relocating the previous tenant and then fully upgrades this owner’s unit into a modern standard. This recently upgraded unit has brand new flooring throughout, fully upgraded kitchen with shaker cabinets, fully upgraded bathroom, and led lighting throughout.
Each unit is charming with original hardwood flooring, ceiling fans, plenty of built in cabinets, tiled kitchen and bathroom, and in-unit laundry hookups. The front 1 bedroom unit #532 was recently leased for $2450/month. Besides the owner’s unit (#526), two additional units (532 and #530) have been upgraded with brand new kitchen and updated bathroom.
Parking is provided via detached 3 car garages and 3 open space in the back. Each unit has individual water heaters and separately metered for electricity and gas. Each unit has its own laundry hookups.
LOCATION AMENITIES AND ACCESS
The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region. Historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away. The property has superb access to FWY 110 and FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.