1385 N Marengo Avenue

    Pasadena, CA 91103
    • $1,250,000
    • STATUS: Active Under Contract
    • ON SITE: 147 days
    • ID#: 19516806
    Under Contract
    UPDATED: 23 min ago
    $1,250,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1980
    County:

    School Ratings & Info

    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 should do their due diligence regarding the opportunity to build up to 10 units on this large lot.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-27T20:31:17.817. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

    www.livelovethefoothills.com/homes/99547906

    1385 N Marengo Avenue Pasadena, CA 91103

    • Price: $1,250,000
    • Status: Active Under Contract
    • Updated: 23 min ago
    • ID#: 19516806
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    1980
    Built
    Neighborhood:
    645 - Pasadena (NW)
    County:
    Los Angeles
    Area:
    645 - Pasadena (NW)
    Property 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 should do their due diligence regarding the opportunity to build up to 10 units on this large lot.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage - Two Door Parking YN Yes

    Interior Features

    Heating Central Heating YN Yes

    Property Features

    Gross Income 79800.00 Gross Multiplier 15.66 Gross Operating Income 77406.00 Net Operating Income 44878.00 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 3.00 Zoning Rm32

    Listing provided courtesy of Kenny Stevens of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-27T20:31:17.817. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

     
    The Costantino Group | Cal American Homes and Realty
    405 West Foothill Blvd Suite 203
    Claremont CA, 91711