| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 69th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 350 S Madison Ave, Pasadena, CA, 91101, US |
| Region / Metro | Pasadena |
| Year of Construction | 1972 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
350 S Madison Ave, Pasadena CA Multifamily Investment
Positioned in Pasadena’s urban core with deep renter demand and strong amenity access, this 84-unit asset offers durable leasing fundamentals according to WDSuite’s CRE market data. Neighborhood occupancy and income levels point to stable cash flow drivers with room for targeted value-add to enhance competitiveness.
The property sits in an Urban Core neighborhood within the Los Angeles-Long Beach-Glendale metro that ranks 81 out of 1,441 neighborhoods (A rating), indicating competitive positioning among metro peers. Amenity access is a clear strength: the area is competitive among Los Angeles-Long Beach-Glendale neighborhoods for restaurants and cafes (amenity rank 59 of 1,441), with grocery and pharmacy density also testing well above national norms. These factors support resident retention and day-to-day convenience for tenants.
Renter-occupied share in the neighborhood is high (75.4%; 98th percentile nationally), signaling a deep tenant base and sustained multifamily demand. Neighborhood occupancy is reported at 89.9%, with a positive multi-year trend, which supports leasing stability even as new supply or turnover cycles occur, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics show a modest decline in population alongside a small increase in households and a lower average household size. This combination typically means more, smaller households entering the rental market and can support occupancy stability and lease-up velocity for well-positioned units. Median household income in the neighborhood sits in a high national percentile, which can underpin rent collections and renewals, while rent-to-income levels point to some affordability pressure that owners should manage through unit mix and pricing strategies.
Home values in the neighborhood are elevated (high national percentile), typical for Pasadena and much of Los Angeles County. In investor terms, a high-cost ownership market tends to reinforce reliance on multifamily rentals, supporting demand depth and pricing power for competitive properties. Average school ratings score below national averages, which may influence tenant mix and marketing but does not negate the neighborhood’s amenity and employment access advantages.
Built in 1972, the asset is slightly older than the area’s average vintage. Investors should plan for ongoing capital expenditures and consider targeted renovations to kitchens, baths, and systems to defend rents and reduce turnover. In return, updated finishes in an amenity-rich location can position the property more competitively against newer deliveries.
Safety trends are mixed and should be evaluated at the neighborhood level rather than the block. Relative to neighborhoods nationwide, this area sits in lower national safety percentiles (overall crime around the 28th percentile nationally). Within the Los Angeles-Long Beach-Glendale metro, the neighborhood’s crime rank is 1,256 out of 1,441, indicating higher crime levels than many metro peers.
Recent momentum is nuanced: estimated property offenses show a year-over-year decline, while estimated violent offenses increased, per WDSuite’s data. For investors, practical risk management—lighting, access control, and resident engagement—can help support retention and protect NOI. Always pair underwriting with current local reports and property-level operating practices.
Proximity to major corporate employers supports a diversified renter base and convenient commutes for residents. Nearby anchors include Edison International, Avery Dennison, Chevron, Microsoft, and Reliance Steel & Aluminum.
- Edison International — utilities (6.8 miles) — HQ
- Avery Dennison — manufacturing & materials (6.9 miles) — HQ
- Chevron — energy offices (7.9 miles)
- Microsoft — technology offices (8.9 miles)
- Reliance Steel & Aluminum — metals & distribution (8.9 miles) — HQ
This 84-unit property at 350 S Madison Ave is positioned in a top-tier Pasadena location with strong amenity density and a renter-oriented neighborhood profile. According to CRE market data from WDSuite, renter-occupied share is high and neighborhood occupancy has trended upward, supporting a stable tenant base. Elevated home values in the area reinforce reliance on multifamily housing, which can help sustain demand and reduce volatility across cycles.
Constructed in 1972, the asset is slightly older than the neighborhood average, creating a straightforward value-add play through targeted renovations and systems upgrades. Within a 3-mile radius, households are increasing even as average household size decreases, expanding the renter pool for well-located buildings. Key watch items include below-average school ratings and safety that trails metro peers, warranting prudent operating practices and community engagement to support retention.
- Amenity-rich, Urban Core location with competitive metro ranking (81 of 1,441) supports leasing
- High renter-occupied share signals deep tenant base and supports occupancy stability
- 1972 vintage offers value-add potential via targeted renovations and capex planning
- Elevated ownership costs in Pasadena reinforce multifamily demand and pricing power
- Risks: safety metrics trail metro peers and school ratings are low; active management recommended