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623 N Madison Ave, Pasadena, CA 91101
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623 N Madison Ave Pasadena, CA 91101

$3,000,000 Sold Price as of 12/14/2021
  • 14 Beds
  • 8 Baths
  • 5,584 Sq.Ft.
Sold
$3,000,000 Sold Price as of 12/14/2021 Refinance Your Mortgage
Map preview of 623 N Madison Ave, Pasadena, CA 91101

Property Overview: 623 N Madison Ave Pasadena, CA has 14 bedrooms, 8 bathrooms, 5,584 living square feet and 23,958 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Thomas Flanagan | BRE #01330299 | COMPASS
Co-listed by Matthew Ziegler | BRE #01280909 | Marcus & Millichap
Last checked: 1 minute ago | Last updated: March 25th, 2024 | Source CRMLS | DOM: 58

Home details

Lot Sq. Ft
23,958
HOA Dues
$0/mo
Year built
1923
Garage
5 Car
Property Type:
Mixed Use
Status
Sold
MLS#
P1-6778
City
Pasadena
County
Los Angeles
Time on Site
957 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: --
  • Total # of Buildings: 8
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: --
  • # of Beds: 14
  • # of Baths: 8
  • Garage Spaces: 5
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $12,855
  • Total Rent: $12,855
  • Pro Forma/Market Rent: $20,265
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $154,260
  • Net Operating Income: $84,411
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $65,221
  • Electric: $1,026
  • Gas/Fuel: $0
  • Trash: $6,712
  • Insurance: $2,792
  • Water/Sewer: $3,839

Property Details for 623 N Madison Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
Laundry Information
  • Has Laundry
Fireplace Information
  • Has Fireplace
Kitchen Information
  • Has Appliances
Exterior Features
Exterior Information
  • Has Fence
  • Privacy
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 3
  • Has Parking
Lot Information
  • Lot Features: Sprinklers None
  • Lot Size Source: Public Records
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Parcel Number: 5731005049
  • Year Built Source: Public Records
  • Property is not Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Subdivision Name: Not Applicable
  • Directions: N Madison Ave & E Orange Grove Blvd
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Pasadena Agent

Sale History for 623 N Madison Ave

Last leased for $2,500 on May 4th, 2022

  • March, 2024

  • Mar 25, 2024

    Date

    Withdrawn

    CRMLS: CV23167803

    $4,000,000

    Price

  • Sep 7, 2023

    Date

    Active

    CRMLS: CV23167803

    $3,999,000

    Price

  • Listing provided courtesy of CRMLS

    Rear opportunity. 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. Three units been remodeled through out in year 2020-2023.

  • June, 2022

  • Jun 23, 2022

    Date

    Canceled

    CRMLS: AR22119870

    $2,500

    Price

  • Jun 4, 2022

    Date

    Active

    CRMLS: AR22119870

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    Charming front unit one-story house in the Colonia Revival style Cypress Court, an 8 unit bungalow court style historical complex. Units are situated spaciously apart from one another giving ample privacy and ample outdoor space for each bungalow. Rare opportunity to enjoy this place rich in history with modern comfort of extensive remodeled features. This bungalow of approximate 750 sq.ft. has 1 bedroom/1 den-bedroom/1 bath, wood floors, fireplace, inside utility room with washer & dryer hook-up. System includes existing window AC unit, Central AC in progress pending on City's approval. Excellent remodeled with new floors, new paint, recess lightings and new fixtures throughout. Do not miss visiting this popular place to appreciate!

  • April, 2022

  • Apr 21, 2022

    Date

    Price Change

    CRMLS: AR22081116

    $2,950

    Price

  • Listing provided courtesy of CRMLS

    FREE-STANDING 1 bedroom + 1 den + 1 bathroom bungalow home. Newly renovated on a 24000sqft large lot. There are 8 similar bungalow, but only this front unit is up for rent. Walk-in Closet. Washer and dryer hook ups.

  • January, 2022

  • Jan 26, 2022

    Date

    Withdrawn

    CRMLS: WS22013427

    $2,600

    Price

  • Listing provided courtesy of CRMLS

    Very atractive 2bedroom/1bath bungalow style home in Historical Cypress Court which contents total 8 free standing units. Newly tastfully renovated. It features open floor plan, Central air and heat, wood floors, fireplace, inside laundry ( Washer & Dryer stay ). 2 parking spaces. Beautiful and quelt neighborhood. No dog please. Won't last!

  • January, 2022

  • Jan 18, 2022

    Date

    Price Change

    CRMLS: AR22010150

    $2,600

    Price

  • Listing provided courtesy of CRMLS

    FREE-STANDING 2bedroom/1bath bungalow home. Newly renovated. Large Lot 22000sqft, consists of 8 similar bungalow. Only this one is up for rent. Washer and Dryer included in unit

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Tax History for 623 N Madison Ave

Assessed Value (2020): $91,311
Year Land Value Improved Value Assessed Value
2020 $31,003 $60,308 $91,311

Home Value Compared to the Market

This property vs the competition

623 N Madison Ave sold on December 14, 2021 for 152% higher than the current median sold price for the city of Pasadena which is $1,250,000. The median sold price per/sqft for Pasadena is $763 and this home is sold at $564.11 per/sqft which puts the price per square foot 26.07% lower than the current median sale per square foot for the city of Pasadena.

About 623 N Madison Ave

Detailed summary of property

623 N Madison Ave is a mixed use that recently sold in Pasadena, CA 91101. This mixed use property offered 14 bedrooms, 8 bathrooms, roughly 5,584 living square feet, and sits on an approximately 23,958 square foot lot. 623 N Madison Ave was first listed on ArdentRealEstateGroup.com on September 22, 2021. The homeowner sold the property for $3,000,000. Home in Pasadena are selling for a median price of $1,250,000 and a median price per square foot of $763. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 152% higher than the current median priced home. Local homes that are currently for sale include 1756 Pacific Ave, 1128 Stanley Ave and 4130 E 10th St. While the average home in Pasadena, CA is selling in 56 days, 623 N Madison Ave has a days on market of 58 days. There are currently 267 homes for sale in the Pasadena real estate market and 158 of them are single family homes while 80 of them are condos and 29 are townhomes. For more information on this home for sale at 623 N Madison Ave Pasadena, CA 91101 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 623 N Madison Ave

Public county record property details
Beds
6
Baths
4
Year built
1923
Sq. Ft.
2,942
Lot Size
11,410
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
5731-005-049

The source for these homes facts are from public records.

91101 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$719,000
Median List Price/Sq.Ft.
$704
Median Sold Price
$846,000
Median Sold Price/Sq.Ft.
$725
Total Inventory
49
Median Sale to List Price %
110.59%
Avg Days on Market
71
Loan Type
Conventional (42.86%), FHA (0%), VA (0%), Cash (21.43%), Other (28.57%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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