M
Seller's Agent in 2023
Mauricio Nunez
Deodate Corporation
281 S Madison Ave Pasadena, CA 91101
Playhouse Village Neighborhood
5
Beds
4
Baths
23,768
Sq Ft
0.32
Acre Lot
Highlights
- Community Pool
- East Facing Home
- Rectangular Lot
- Foothills
About This Home
As of April 2023Originally built by the current ownership group, 281 S Madison resides near one of the highest disposable
income zip codes in the country. Walking distance to the Cal Tech, PCC, Lake Ave, and Colorado Blvd districts, this multifamily
investment opportunity boasts 21 large one and two-bedroom units with amenities like underground parking and a pool.
Tremendous upside, with rents far below market averages across the board. Potential to be a crown (core) component of any
portfolio.
Last Agent to Sell the Property
Mauricio Nunez
Deodate Corporation License #01760019 Listed on: 12/12/2022
Last Buyer's Agent
Syed Razvi
RED LETTER REALTY License #01873533
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 13,988 Sq Ft Lot
- No Common Walls
- East Facing Home
- Rectangular Lot
- Density is 21-25 Units/Acre
Parking
- 25 Car Garage
- 254 Carport Spaces
- Parking Available
- Assigned Parking
Home Design
- 23,768 Sq Ft Home
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Additional Features
- Laundry in unit
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Tax Lot 25
- Tax Tract Number 7500
- Assessor Parcel Number 5734010006
Community Details
Overview
- 21 Units
- Foothills
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- Rent Control
- 2 Separate Electric Meters
- 25 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $12,312
- Insurance Expense $10,000
- Trash Expense $12,312
- Water Sewer Expense $8,000
- Operating Expense $57,665
- Gross Income $516,221
- Net Operating Income $516,221
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Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/17/2023 04/17/23 | Sold | $7,900,000 | -8.1% | $332 / Sq Ft |
| 02/09/2023 02/09/23 | Price Changed | $8,599,999 | -4.4% | $362 / Sq Ft |
| 12/12/2022 12/12/22 | Price Changed | $9,000,000 | -10.0% | $379 / Sq Ft |
| 12/12/2022 12/12/22 | For Sale | $10,000,000 | -- | $421 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $97,556 | $8,219,160 | $5,722,200 | $2,496,960 |
| 2024 | $93,215 | $8,058,000 | $5,610,000 | $2,448,000 |
| 2023 | $14,753 | $885,095 | $83,864 | $801,231 |
| 2022 | $14,335 | $867,741 | $82,220 | $785,521 |
| 2021 | $13,711 | $850,727 | $80,608 | $770,119 |
| 2019 | $13,290 | $825,496 | $78,218 | $747,278 |
| 2018 | $13,222 | $809,311 | $76,685 | $732,626 |
| 2016 | $12,487 | $777,886 | $73,708 | $704,178 |
| 2015 | $12,339 | $766,202 | $72,601 | $693,601 |
| 2014 | $12,257 | $751,194 | $71,179 | $680,015 |
Source: Public Records
Agents Affiliated with this Home
-
-
S
Buyer's Agent in 2023
Syed Razvi
RED LETTER REALTY
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: DW22254531
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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