ONLY $304,000 PER UNIT! Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. 199 S. Madison Ave is a corner lot approx. 12,755 SF in size and on what is arguably one of the most desired streets in all of Pasadena. Boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, many landlords view these as ideal rental apartments. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS. DRIVE-BY ONLY.