215 S Madison Ave, Pasadena, CA 91101
FOR SALE
NEW - 1 DAY AGO
0.44 ACRES
Listed by Ryan Loria, Triqor Group, (949) 756-3232

215 S Madison Ave
Pasadena, CA 91101

South
  • Studio
  • 34,815 sqft (on 0.44 acres)

$11,500,000

Est. Mortgage $68,809/mo*
Get Pre-Qualified

$11,500,000

Est. Mortgage $68,809/mo*
Get Pre-Qualified
Studio
34,815 sqft
(on 0.44 acres)

Local Information

Map showing home location
© Google
-- mins to
Commute Destination

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.

Home Highlights

Parking
25 Carport Spaces
Outdoor
No Info
HOA
None
Price/Sqft
$330
Listed
1 day ago

Home Details for 215 S Madison Ave

Interior Features

Appliances & Utilities
Laundry: Common Area
Windows, Doors, Floors & Walls
Common Walls: 2+ Common Walls
Levels, Entrance, & Accessibility
Number of Stories: 3Entry Location: 1

Exterior Features

Exterior Home Features
No Private Pool
Parking & Garage
Number of Carport Spaces: 25Number of Covered Spaces: 25Open Parking Spaces: 25Has a CarportNo GarageParking Spaces: 50Parking: Carport
Pool
Pool: None
Frontage
Not on Waterfront
Water & Sewer
Sewer: Public Sewer
Surface & Elevation
Elevation Units: Feet

Days on Market

Days on Market: 1

Property Information

Year Built
Year Built: 1972
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Not a New ConstructionAttached To Another StructureNo Additional Parcels
Property Information
Parcel Number: 5734010001

Price & Status

Price
List Price: $11,500,000Price Per Sqft: $330

Active Status

MLS Status: Active

Location

Direction & Address
City: Pasadena

Agent Information

Listing Agent
Listing ID: PW26122848

Building

Building Area
Building Area: 34815 Square Feet

Community

Community Features: SidewalksNot Senior Community

HOA

Association for this Listing: California Regional MLS

Lot Information

Lot Area: 0.44 acres

Listing Info

Special Conditions: Standard

Offer

Listing Terms: Conventional

Rental Terms, Policies & Fees

Has Rent Control

Miscellaneous

Mls Number: PW26122848Living Area Range Units: Square FeetCommon Interest: Community ApartmentUniversal Property Id: US-06037-N-5734010001-R-N

Additional Information

SidewalksSource Internet Entire Listing Display
Last check for updates: about 6 hours ago
Listing Provided by: Ryan Loria DRE #02006138
Triqor Group
Originating MLS: California Regional MLS
Source: CRMLS, MLS#PW26122848
Also Listed on CRMLS.

Market trends in Pasadena

Last updated April 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$1.28M
$2.5KMoM
Sale-to-List Price
100.7%
0.6%MoM
Price per sq ft
$794
$20MoM
Available listings
345
27MoM

Price History for 215 S Madison Ave

DatePriceEventSource
06/05/2026$11,500,000Listed For SaleCRMLS #PW26122848
11/20/2024$2,345ListingRemovedZillow Rentals
11/08/2024$2,345Listed For RentZillow Rentals
05/06/2021ListingRemovedZillow Rental Manager
04/09/2021$1,650Listed For RentZillow Rental Manager

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Comparable Sales for 215 S Madison Ave

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
275 S Marengo Ave, Pasadena, CA
0.46
Multi-Family Home
$8,750,000
10/03/25
46
39
29,930
420 S Euclid Ave, Pasadena, CA
0.33
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$2,750,000
07/30/25
10
7
6,133
697 Mira Monte Pl, Pasadena, CA
0.19
Multi-Family Home
$2,995,000
12/26/25
9
7
6,403
482 S El Molino Ave, Pasadena, CA
0.34
Multi-Family Home
$2,965,000
10/01/25
12
10
8,162
467 S El Molino Ave, Pasadena, CA
0.31
Multi-Family Home
$1,970,000
11/14/25
6
7
4,004
400 S Marengo Ave, Pasadena, CA
0.45
Multi-Family Home
$2,950,000
12/31/25
12
-
6,400
765 E California Blvd, Pasadena, CA
0.47
Multi-Family Home
$3,200,000
07/30/25
8
4
5,498
434 S Euclid Ave, Pasadena, CA
0.34
Multi-Family Home
$2,150,000
07/30/25
8
6
4,309
210 S Catalina Ave, Pasadena, CA
0.55
Multi-Family Home
$2,735,000
01/09/26
13
12
8,945

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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Assigned Schools

These are the assigned schools for 215 S Madison Ave.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

South
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about South

At least 205 Trulia users voted on each feature.

  • 91 % Say it's dog friendly

  • 90 % Say there are sidewalks

  • 88 % Say it's walkable to restaurants

  • 82 % Say it's walkable to grocery stores

  • 74 % Say people would walk alone at night

  • 72 % Say streets are well-lit

  • 69 % Say car is needed

  • 59 % Say they plan to stay for at least 5 years

  • 58 % Say parking is easy

  • 57 % Say there's holiday spirit

  • 57 % Say it's quiet

  • 46 % Say neighbors are friendly

  • 46 % Say yards are well-kept

  • 40 % Say kids play outside

  • 38 % Say there's wildlife

  • 23 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Trulia User
    "Very walkable area! Dog friendly places in the neighborhood. Safe neighborhood. But there are coyotes. "
    1
    Flag
  • Vivi Wei Tian
    "The owner let the dog pee or Poop at the lawn area even there are signs that not allow to pee or poop"
    1
    Flag
  • Anthony Francis
    "A long rich history, and the beautiful architectural homes Excellent school district and shops in different places to eat in down South. Pasadena is a beautiful City to live in"
    2
    Flag
  • Tawny Y.
    "Even though people are good about picking up their dogs’ poo, not everyone is a responsible dog owner. I rarely ever see any leash-less dogs. However, some people claim their dogs are service dogs when they’re out of control. Most places here do not like big dogs in the complexes. "
    2
    Flag
  • Trulia User
    "PASADENA is so friendly and quaint, we love it! It is a very family-first city. There’s no other place we’d wanna be!"
    0
    Flag
  • Trulia User
    "Dogs are not allowed in my apartment building. Maybe a near by apartment allows pets but I rarely see people walking dogs in this area"
    1
    Flag
  • Trulia User
    "All is well… live, love and laughter… thrift stores prove that giving back is everything. I would invite folks from all over California here. "
    0
    Flag
  • Trulia User
    "Friendly/ approachable neighborhoods and neighbors…. Pet friendly Community/ equal opportunity, love and respect 🫡 "
    0
    Flag
  • Trulia User
    "We moved back up here from Newport Beach just before the pandemic. Aside from the lack of ocean, it’s hard to beat this area. There’s something for everyone, whether you love the outdoors or the Old Town vibe. Even though I sell more real estate in other areas, I love living in this one."
    3
    Flag
  • Trulia User
    "Lots of people and their dogs. Walking score high. But. Very busy for sure. Friendly neighbors Lots of restaurants and coffee tea shops "
    0
    Flag
  • Trulia User
    "This is a very walkable community. It is close to Old Town Pasdena and lots of restaurants and shops. It is also close to the Metro train that can take all over Las Angeles. There is also local bus service."
    1
    Flag
  • Trulia User
    "Neighborhoods are safe and friendly. Neighbors and their dogs become friends. People hold themselves accountable to their community "
    0
    Flag
  • Trulia User
    "Madison Heights Community happy hours, Easter egg hunt, and other holiday celebrations are a great feature of this neighborhood that are put on yearly by the association. neighborhood watch is also active and vigilant."
    0
    Flag
  • Rolando G.
    "Quiet, safe, beautiful, clean convenient, friendly, comfortable, fun, diverse, full of smartens kind people al around. "
    3
    Flag
  • J
    "I’ve lived here for 11 years. Love the walkability, it’s nearby restaurants, parks, and shopping. Very safe. "
    15
    Flag
  • Naima G.
    "This is an absolute amazing neighborhood! It is not the type where your neighbors stay inside all day and never come out, or the type who are always nosy. It is perfect! At night there is no parties going on until like 3:00 or anything! It is quiet and nice, in the morning the birds are tweeting and you see people walking their dogs, biking, or just jogging! I totally recommend this neighborhood!"
    18
    Flag
  • Michelle K.
    "You see people out walking dogs all the time. Friendly neighbors, tree-lined streets, quiet traffic. "
    3
    Flag
  • Joanna G.
    "It’s well-maintained and near shops. It has friendly neighbors and it’s just a great place to live. Quiet at night but active during the day. Runners and dog walkers on the street. Bustling and historic and tree lined. "
    9
    Flag
  • Dg
    "The neighborhood is very conscientious and everyone does their part to take care of the area and to keep it safe."
    0
    Flag
  • Faith L.
    "There was a block party that I saw we had for the first time on El Molino. What a quaint and family friendly event "
    0
    Flag
  • Mr. H
    "The Rose Parade of course is always fun and Christmas is beautiful with the decorations on Lake Ave. "
    1
    Flag
  • Jeff M.
    "We lived here for three years. Loved the neighborhood, the neighbors and the walkability of Pasadena."
    0
    Flag
  • Daphne
    "Pasadena has all kinds of wonderful events. Cultural events and etc. A rare neighborhood in LA that I can walk around without car. "
    0
    Flag
  • Andrew M.
    "Great location with access to groceries, restaurants and shops. Very safe and clean. Safe distance from busy and freeways."
    3
    Flag
  • Rev2002
    "Very dog friendly. A few buildings in the area are also dog friendly. There is not a close by dog park however."
    1
    Flag
  • Shauna U.
    "There are great parks and very walkable neighborhood attractions. I don’t often see small children, but there are a lot of apartment buildings in the area"
    0
    Flag
  • Hurong
    "The community has the perfect location. I can walk to Trader Joe’s, shopping mall and restaurants in 2 mins. Also, jogging in the cal tech. I’d like living here. "
    11
    Flag
  • Yrkliu
    "It’s quite, residential, but near nice commercial establishments. It’s a well manicured area with lots of grass and flowers. "
    0
    Flag

LGBTQ Local Legal Protections

Ryan Loria, Triqor Group
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. as of 2026-02-09 09:51:42 PST 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
215 S Madison Ave, Pasadena, CA 91101 is a studio, 34,815 sqft multi-family built in 1972. 215 S Madison Ave is located in South, Pasadena. This property is currently available for sale and was listed by CRMLS on Jun 5, 2026. The MLS # for this home is MLS# PW26122848.