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Listed by Rickird Rey Ramirez • Ally Commercial Real Estate
$ 11,999,999
Est. payment /mo
New
514 N Madison Ave Pasadena, CA 91101
19,506 SqFt
UPDATED:
01/11/2025 06:45 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 19,506 sqft
Price per Sqft $615
MLS Listing ID DW-25006052
Year Built 1921
Lot Size 1.778 Acres
Property Description
Legacy property in a premier Pasadena location. Located at 514-570 N Madison, this offering includes six contiguous parcels totaling 77,460 square feet of land. Currently, the property features 25 existing units, primarily bungalows, across a combined building footprint of 19,506 square feet. The low building-to-land ratio creates a significant opportunity for a visionary investor or developer to unlock the full potential of the site through extensive ADU development. There is potential to add 25 new ADUs across the property. This development could nearly triple gross income, offering multiple exit strategies or establishing a valuable legacy asset for long-term investment. CAN BE SOLD TOGETHER OR SEPARATE.
Location
State CA
County Los Angeles
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 4.0
Pool None
Community Features Biking, Curbs, Foothills, Gutters, Hiking, Sidewalks, Storm Drains
Building
Lot Description 2-5 Units/Acre, 6-10 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944