Listing provided courtesy of Rickird Rey Ramirez of Ally Commercial Real Estate. Last updated 2025-01-14 09:11:15.000000. Listing information © 2024 CLAW.
Asking Price: $11,999,999
514 N Madison Ave, Pasadena CA 91101
Community: 645 - Pasadena (NW)
This Commercial/Residential property was built in 1921 and is priced at $11,999,999. Please see the additional details below.
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.
