4 Single-story Bungalow Court near Old Town Pasadena, delivered with a Fully Renovated Vacant 2-Bedroom Unit, Large ±13k

Highlights:

• 4 Single-story Bungalows several blocks north of Old Town Pasadena, Large ±13k SF Lot, highly desirable layout, Easy to Rent and Manage.
• 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.
• SUPERB demographics with ±$111,562 average household income within a 1-mile radius
• Bungalow-Style Layout: Four separate, single-story units with no adjoining walls, offering tenants a highly desirable, quiet, single-family home feel.
• Excellent mix with 2bed and 1bed units; Super easy to rent and manage, 1 unit is vacant and may be delivered vacant
• Charming property with lush landscaping, single family houses feel to it
• Charming units with original hardwood floor, plenty of built-in cabinets, and laundry hookups; end unit is a larger 2bed unit.
• 3 garage and 1 open space parking; no soft story retrofit is required
• Separately metered for electricity and gas, each unit has laundry hookups
• Portfolio Opportunity: Can be acquired concurrently with the neighboring property at 542 N Madison for expanded scale.
• Almost Turnkey Condition: Three of the four units have been fully upgraded with brand new kitchens, updated bathrooms, and modern finishes.

Description:

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)

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.

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