405 North Marengo Avenue

Pasadena, CA 91101

$4,475,000
Price
17
Beds
16
Baths
10,362 Sq. Ft.
$432 / Sq. Ft.
10,362
Sq. Ft.
$432
per Sq. Ft.

Description

We are pleased to present our newest offering in the beautiful city of Pasadena. This appealing 14-unit property is nestled in the 91101 Zip Code, surrounded mostly by residential homes in a quaint pocket of the city. Being only a few blocks away from Pasadena city hall and downtown Pasadena, this property boasts easy access to the freeway, and the city's newest and prevalent attractions alike. Offered at an extremely attractive 5% cap rate, 405 N Marengo Street is an invaluable investment for first...We are pleased to present our newest offering in the beautiful city of Pasadena. This appealing 14-unit property is nestled in the 91101 Zip Code, surrounded mostly by residential homes in a quaint pocket of the city. Being only a few blocks away from Pasadena city hall and downtown Pasadena, this property boasts easy access to the freeway, and the city's newest and prevalent attractions alike. Offered at an extremely attractive 5% cap rate, 405 N Marengo Street is an invaluable investment for first time buyers or veteran investors alike. With an average square footage of approximately 750 SQ/FT per unit, each unit possesses ample living spaces for modern design and comfortable living. Don't miss the opportunity to acquire a pride of ownership asset in the highly coveted city of Pasadena, with substantial day one income and potential for massive future growth .
  1. Listed by Jonathan Weir • DRE #02038545 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 405 North Marengo Avenue

Zoning
PSR1
Parcel Number
5725023039
Total Units
14.0
Living Area
10362
Source Living Area
Other
Area
Pasadena NW (645)
Vacancy Rate
0
Lot Size Area
12420
LISTING UPDATED: 09/04/2024 12:01 AM

Property Details for 405 North Marengo Avenue

StatusActive
MLS #24-432995
Days on Market86
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.29 AC / 12,420 SF
CountyLos Angeles County

Building Information for 405 North Marengo Avenue

Stories2Residences-Year Built1960Building Size-Lot Size0.29 AC / 12,420 SF

Property Information for 405 North Marengo Avenue

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $331,980
  • Net Operating Income: $223,567.00
  • Gross Income: $331,980
  • Gross Rent Multiplier: $13.48
  • Total Annual Expense: 103254
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2851
  • Lot Size Square Feet: 12420
  • Lot Size Dimensions: 205x60
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Uncovered
  • Total Parking: 14
  • Parking Features: Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal, Range/Oven, Dryer, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-28-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,795.00
  • Unit Actual Rent: $2,795.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,045.00
  • Unit Actual Rent: $2,045.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,902.00
  • Unit Actual Rent: $1,902.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,071,827.00
  • Assessed Improvement Percent: 49.08
  • Assessed Land Value: $1,112,019.00
  • Assessed Land Percent: 50.92
  • Assessed Total Value: $2,183,846.00

Property History for 405 North Marengo Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 405 North Marengo Avenue

Taxable ValueLand$1,134,259Additions$1,094,703Total$2,228,962
Tax Record2024$27,577 ($2,298 / month)
Home Facts
Total Finished SqFt10,362 SqFtAbove Grade Finished SqFt10,362 SqFtLot Size12,622 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningPSR1CountyLOS ANGELESAPN5725-023-039

Schools near 405 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
Public - 9 to 12
Rating
School
Distance
Madison Elementary School
PublicK to 5

Octavia E. Butler Magnet School
Public6 to 8

John Muir High School
Public9 to 12

Rose City High (Continuation) School
Public9 to 12

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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405 North Marengo Avenue is a multi-family home for sale in Pasadena, CA 91101. This property was listed for sale on August 27, 2024 by Marcus & Millichap, it's currently listed at $4,475,000. It has been on the market for a total of 86 days and was last sold on May 9, 2005. This listing's school district is Pasadena Unified School District. Nearby schools include Madison Elementary School, Octavia E. Butler Magnet School and John Muir High School. 405 North Marengo Avenue is a 17-bed, 16-bath, 10,362 sqft multi-family home built in 1960.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jonathan Weir, DRE #02038545

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.