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$11,999,999
Est. payment /mo
1.78 Acres Lot
UPDATED:
02/17/2025 04:13 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRDW25006052
Originating Board California Regional MLS
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
Area 645 - Pasadena (Nw)
Interior
Laundry Laundry Area
Exterior
Garage Spaces 39.0
Pool None
Building
Water District - Public
Others
Tax ID 5731006009
Special Listing Condition Not Applicable
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Listed by Rickird Rey Ramirez • Ally Commercial Real Estate