Two Houses on a Lot several blocks north of Old Town Pasadena, Large ±13k SF Lot, 10 or more parking, Clear upside to do ADUs (2 or more – buyer to verify).
INVESTMENT HIGHLIGHTS
- Prime Value-add 2 houses on a lot near Old Town Pasadena and Rose Bowl
- Perfect for an owner user who wants to move into the front 4bedroom house, or a first-time home/apartment investor that can add ADUs (2 or more – buyer to verify)
- SUPERB demographics with ±$111,562 average household income within a 1-mile radius
- Walk Score 78, Bike Score 91
- Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
PROPERTY HIGHLIGHTS
- Highly desirable TWO (2) houses on a large lot (±13k SF)
- Front house is a large 4bedroom+1.5bathroom house, and back house is a cute single-story bungalow
- Charming property with expansive lot
- Plenty of open space parking (10 or more) for 2 houses, NO Soft Story retrofit is required
- Prime real estate for ADUs (can add 2 ADUs – buyer to verify)
- Separately metered for electricity and gas
EXECUTIVE SUMMARY
Growth Investment Group California is proud to offer 562 N Madison Ave, a Two House on a lot in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, 2 blocks west of Los Robles Ave, and just within walking distance of many dining, shopping, and other attractions in Pasadena. It is situated on a quiet residential street surrounded by single family houses. This property is being sold together with 5 adjacent buildings to its north and south that are own by same seller – can be purchased together or individually (514 N Madison, 526 N Madison, 536 N Madison, 542 N Madison, and 570 N Madison).
The property is extremely rare with highly desirable layout providing tenants with single family residential feel. It consists of a large 2-story house which has 4bedroom and 1.5bathroom. The back house is a cute single story bungalow house with 1bedroom and 1bathroom. It has a side driveway that leads to the large lot. This offering is perfect for an owner user that can occupy the front house (currently tenant occupied – seller is selling it as-is with tenant in place).
The property has 13,181 SF lot size providing 10 or more parking spaces. Each house is individually metered for electricity and gas and has laundry hookups. Because of this configuration, there is a clear and huge upside for new owners to add 2 or more ADUs (buyer to verify).
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.