215 S Madison, Pasadena, CA

Name: 215 S Madison, For Sale in Pasadena - eXp Realty
Brand: Triqor Group
SKU: PW26122848
Price: 11500000 USD

Condo

For Sale

Listed price in listed location currency (USD).

$11,500,000

0050

MLS® PW26122848

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage

HOA Fees

Taxes

Days Active 2

Approx. Age 1972

MLS® Number PW26122848

Property Address: 215 S Madison, Pasadena, CA, 91101

Average square foot calculated using Size range provided by listing agent.

Description

Madison Luxury Apartments presents a rare opportunity to acquire a meticulously maintained 34-unit apartment community in the heart of Pasadena, ideally positioned between the highly desirable Madison Heights and Playhouse Village neighborhoods. Offered for sale for the first time since its original construction, this trophy asset features an attractive mix of spacious one-bedroom/one-bathroom and two-bedroom/two-bathroom residences with private balconies or patios, semi-subterranean parking, and a rooftop recreation area showcasing panoramic views of Old Pasadena and the San Gabriel Mountains. The property has benefited from significant capital improvements, including a new roof (2020), all-new copper plumbing (2018), a complete low-voltage electrical rewire, remodeled elevator, security camera system, and the installation of 17 electric vehicle charging stations. Residents also enjoy access to a shared laundry facility and a location that offers an exceptional blend of convenience, lifestyle, and connectivity. Situated just minutes from Old Pasadena and the Shops on Lake Avenue, Madison Apartments places residents within walking distance of some of Pasadena’s premier dining, shopping, entertainment, and cultural destinations. The surrounding neighborhood is characterized by tree-lined streets, historic architecture, top-rated schools, nearby parks, and convenient access to major employment centers and public transportation, supporting strong demand from a diverse and stable tenant base. From an investment perspective, Madison Luxury Apartments offers both immediate income and long-term upside. The property currently generates strong in-place cash flow at a 5.6% cap rate, 7.4% with market rents, representing approximately 25% upside in rental income. Combining a premier Pasadena location, extensive recent upgrades, proven tenant appeal, and meaningful potential, the property represents an exceptional multifamily investment opportunity in one of Southern California’s most sought-after rental markets.

MLS® NumberPW26122848

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1972

Stories3

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 5, 2026List Date

$11,500,000List Price

Home Appraisal

This property is estimated to sell between: $795,000 and $16,853,000.

Similar properties in this area sold on average for: $795,656

Expected to sell in 310 days. Similar properties sold in 312 days. This home has been on eXp Realty for 2 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

Commute

Commute

Starting Address

Destination Address

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