Est. cap rate

4.8%

Assumed rent, all units

$12,280/mo

Units

4

Price per unit

$387,500

Est. annual NOI

$73,680

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

3,326 sqft

Lot size

13,185 sqft

Year built

1940

Stories

1

Garage spaces

3

Style

Bungalow

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

3

MLS #

248732140

About this property

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). 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

526 N Madison

Pasadena, Los Angeles, CA, 91101