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623 N Madison Avenue

Pasadena, CA 91101
  • $3,495,000
  • STATUS: Active
  • ON SITE: 27 Days
  • ID#: P1-6778
UPDATED: 31 min ago
$3,495,000
  • 0
    BEDS
  • 0.55
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,584
    SQFT
  • $626
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Description

We are pleased to present the Cypress Court, an eight (8) unit bungalow court style housing complex located at 623 & 641 N. Madison Avenue in Pasadena, CA. Built in 1923 and 1928, respectively, the court consists of a total of eight (8) homes consisting of two (2) 1 bed/1 bath home and six (6) 2 bed/1 bath homes. Each of the bungalows is uniquely designed in the Colonial Revival style, featuring gable roofs and gabled porches supported by columns. Units are situated spaciously apart from one another providing ample outdoor space for each bungalow. Each bungalow features wood floors, fireplaces, individual water heaters and washer/dryer hookups.The homes total 5,584 of building square footage and sit over three (3) parcels of land totaling a sprawling 0.55 acres, which is PSR1 zoned. Built by contractor Arthur G. Gehrig, Cypress Court was added to the National Register of Historic Places on July 11, 1983. Cypress Court is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors and exteriors. Current rents are approximately thirty-five percent (35%) below market.

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Based on information from CRISNet MLS as of 2021-10-20T08:55:54.11. 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.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2021-10-20T08:55:54.11. 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.
www.searchhomesincalifornia.com/homes/121688234
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623 N Madison Avenue Pasadena, CA 91101

  • Price: $3,495,000
  • Status: Active
  • Updated: 31 min ago
  • ID#: P1-6778
0
Beds
0
Baths
0
½ Baths
0.55
Acres
5,584
SQFT
$626
$/SQFT
1923
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Property Description
We are pleased to present the Cypress Court, an eight (8) unit bungalow court style housing complex located at 623 & 641 N. Madison Avenue in Pasadena, CA. Built in 1923 and 1928, respectively, the court consists of a total of eight (8) homes consisting of two (2) 1 bed/1 bath home and six (6) 2 bed/1 bath homes. Each of the bungalows is uniquely designed in the Colonial Revival style, featuring gable roofs and gabled porches supported by columns. Units are situated spaciously apart from one another providing ample outdoor space for each bungalow. Each bungalow features wood floors, fireplaces, individual water heaters and washer/dryer hookups.The homes total 5,584 of building square footage and sit over three (3) parcels of land totaling a sprawling 0.55 acres, which is PSR1 zoned. Built by contractor Arthur G. Gehrig, Cypress Court was added to the National Register of Historic Places on July 11, 1983. Cypress Court is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors and exteriors. Current rents are approximately thirty-five percent (35%) below market.
Exterior Features

Fence YN Yes Fencing Privacy Lot Features Sprinklers None Lot Size Area 23958.0000 Parking Total 5.00 View None View YN No

Interior Features

Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes

Property Features

Additional Parcels Description 3 Parcels Total: 5731005048; 49; 57 Additional Parcels YN Yes Community Features Sidewalks Fuel Expense 0.00 Gross Income 149632.00 Gross Scheduled Income 154260.00 Insurance Expense 2792.00 Land Lease YN No Net Operating Income 84411.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 0 Operating Expense 65221.00 Pool Features None Pool Private YN No Property Attached YN No Property Sub Type Commercial/Residential Rent Control YN Yes Senior Community YN No Sewer Public Sewer Spa Features None Spa YN No Special Listing Conditions Trust Subdivision Name Other Not Applicable Total Expenses 65221.00 Trash Expense 6712.00 Water Sewer Expense 3839.00 Water Source Public Zoning Psr1

Listing provided courtesy of Thomas Flanagan, CA DRE# 01330299, of Compass.


Based on information from CRISNet MLS as of 2021-10-20T08:55:54.11. 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.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2021-10-20T08:55:54.11. 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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