1385 North Marengo Avenue

Pasadena, CA 91103

$1,200,000
Last Sold Price
10
Beds
6
Baths
4,337 Sq. Ft.
$277 / Sq. Ft.
4,337
Sq. Ft.
$277
per Sq. Ft.

Description

This unique value-add opportunity is comprised of three separate single-family residences on a 13,000 SF lot zoned RM32. Alongside several family-friendly parks, the neighborhood is ideal for families who enjoy the tranquility of the suburbs with close proximity to DTLA and various Los Angeles hotspots. An investment in 1385-1389 Marengo Avenue provides an investor with the opportunity to own three homes in Pasadena, at a very attractive price, with the potential for 30% upside in rents. Developers...This unique value-add opportunity is comprised of three separate single-family residences on a 13,000 SF lot zoned RM32. Alongside several family-friendly parks, the neighborhood is ideal for families who enjoy the tranquility of the suburbs with close proximity to DTLA and various Los Angeles hotspots. An investment in 1385-1389 Marengo Avenue provides an investor with the opportunity to own three homes in Pasadena, at a very attractive price, with the potential for 30% upside in rents. Developers should do their due diligence regarding the opportunity to build up to 10 units on this large lot.

Listing Agents

  1. Kenny Stevens Team

    Kenny Stevens Team

    Listing Agent

    Compass

    DRE #01090251

  2. Kenny Stevens

    Kenny Stevens

    Listing Agent

    Compass

    DRE #01090251

Property Details for 1385 North Marengo Avenue

Zoning
RM32
Parcel Number
5729008014
Total Units
3.0
Living Area
4337
Source Living Area
Assessor
Area
Pasadena NW (645)
Vacancy Rate
3
Lot Size Area
13015

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251

Sold By Compass, Kenny Stevens, DRE #01090251

Add your commute
LISTING UPDATED: 03/11/2020 12:49 PM

Property Details for 1385 North Marengo Avenue

StatusSold
MLS #19-516806
Days on Market161
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1980
Lot Size0.30 AC / 13,015 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251

Sold By Compass, Kenny Stevens, DRE #01090251

Add your commute

Building Information for 1385 North Marengo Avenue

Stories2Residences-Year Built1980Building Size-Lot Size0.30 AC / 13,015 SF

Payment Calculator

$7,910 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,549

Property Taxes

$1,361

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1385 North Marengo Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Townhomes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $77,406
  • Net Operating Income: $44,878.00
  • Gross Income: $79,800
  • Cap Rate: 3.64%
  • Gross Rent Multiplier: $15.66
  • Total Annual Expense: 32528
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 13015
  • Geocode Override: 0.0
Parking Details
Parking Details
  • Parking Garage: Garage - 2 Car, Garage Is Attached
  • Total Parking: 6
  • Parking Features: Garage - Two Door
Interior Features
Interior Features
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling Type: Ceiling Fan
  • Heating: Central
  • Heating Type: Central
  • Equipment: Ceiling Fan, Gas Or Electric Dryer Hookup, Washer
Exterior Features
Exterior Features
  • Pool: No
  • Tennis: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-02-2019
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,700.00
  • Unit Actual Rent: $2,700.00
  • Unit Projected Rent: $3,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,100.00
  • Unit Actual Rent: $2,100.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,850.00
  • Unit Actual Rent: $1,850.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108

Public Records for 1385 North Marengo Avenue

Taxable ValueLand$735,824Additions$516,652Total$1,252,476
Tax Record2023$16,337 ($1,361 / month)
Home Facts
Total Finished SqFt4,337 SqFtAbove Grade Finished SqFt4,337 SqFtLot Size13,016 SqFtStyleTriplexYear Built1980ZoningPSR3CountyLOS ANGELESAPN5729-008-014

Schools near 1385 North Marengo Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Washington Accelerated Elementary School
PublicK to 5

Octavia E. Butler Magnet School
Public6 to 8

John Muir High School
Public9 to 12

Odyssey Charter School - South
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.