| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 70th | Good |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 S Madison Ave, Pasadena, CA, 91101, US |
| Region / Metro | Pasadena |
| Year of Construction | 1972 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
215 S Madison Ave Pasadena Multifamily Investment Thesis
Urban-core Pasadena location with a high neighborhood renter concentration and strong amenity density supports durable multifamily demand, according to WDSuite s commercial real estate analysis. The area s household incomes and deep services base help underpin leasing, while ownership costs tilt households toward rentals.
This property sits in an Urban Core pocket of Pasadena that ranks 57 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods placing it well above the metro median. Amenity access is a standout: restaurants, groceries, pharmacies, childcare, and cafes score in the 90th+ national percentiles, pointing to walkable daily needs and lifestyle convenience that typically supports leasing and retention, based on CRE market data from WDSuite.
Renter-occupied share in the neighborhood is high (top national percentiles), indicating a deep tenant base for multifamily product. Median contract rents in the neighborhood have risen over the past five years, and the local occupancy level has remained resilient, though closer to national mid-range levels. Together, these dynamics suggest steady demand with routine lease management to optimize pricing and retention.
The 1972 vintage is older than the neighborhood s average construction year (1986). For investors, this points to potential capital planning needs alongside value-add opportunities interior updates, system modernization, and curb appeal enhancements can sharpen competitiveness versus newer stock and help capture amenity-driven renter demand.
Within a 3-mile radius, recent years show modest population softness but stable family counts and a small increase in households, with projections indicating population recovery and notable household growth ahead. Smaller forecast household sizes imply more households relative to residents, which generally expands the renter pool and can support occupancy stability for well-positioned assets.
Ownership is a high-cost proposition in this neighborhood relative to incomes (home values and value-to-income measures sit in high national percentiles). In practice, elevated ownership costs sustain reliance on multifamily housing, supporting tenant depth and aiding lease-up and retention, while the neighborhood s rent-to-income profile warrants attentive renewals and unit mix/pricing strategies.
School ratings trend below national averages. While this may reduce appeal for some family renters, the area s amenity strength and proximity to employment centers typically align with demand from singles, couples, and downsizing households.
Relative to the Los Angeles-Long Beach-Glendale metro, the neighborhood s crime rank sits in the lower tier (ranked 1,238 out of 1,441), indicating higher reported crime levels than many peer neighborhoods. Nationally, overall safety indicators place the area below average, with violent offense levels comparing modestly lower than property-related incidents.
Recent trends are mixed: estimated violent offenses show a year-over-year decline, while property offenses ticked up. For investors, this calls for pragmatic measures maintaining lighting, access control, and partnership with professional management to support resident experience and retention. These figures reflect neighborhood-wide conditions, not the property itself.
Proximity to established corporate employers helps deepen the renter pool and supports retention for workforce and professional tenants. Nearby anchors include Avery Dennison, Edison International, Chevron, Microsoft, and Reliance Steel & Aluminum.
- Avery Dennison materials & labeling (6.8 miles) HQ
- Edison International utilities (6.9 miles) HQ
- Chevron energy offices (8.1 miles)
- Microsoft technology offices (9.0 miles)
- Reliance Steel & Aluminum metals & distribution (9.0 miles) HQ
215 S Madison Ave offers a Pasadena Urban Core position with exceptional amenity access and a renter-heavy neighborhood profile, supporting leasing velocity and tenant depth. The 1972 vintage suggests clear value-add potential through targeted renovations and systems upgrades to compete with newer stock. According to CRE market data from WDSuite, neighborhood rents have advanced over five years and occupancy sits in a stable band, while a high-cost ownership landscape reinforces reliance on rentals favorable conditions for multifamily income durability.
Within a 3-mile radius, forecasts point to modest population growth and notable household expansion alongside smaller household sizes, which can enlarge the renter pool and support occupancy. Key considerations include below-average school ratings for family renters, neighborhood-level property crime that warrants security-minded operations, and rent-to-income pressures that call for disciplined pricing and renewals.
- Urban-core location with top-tier amenity access supporting tenant retention
- Renter-heavy neighborhood and high-cost ownership market bolster multifamily demand
- 1972 vintage with value-add potential through upgrades and modernization
- 3-mile outlook indicates household growth and a larger renter pool
- Risks: neighborhood property crime, below-average school ratings, and affordability pressures require active management