850 North Marengo Avenue

Pasadena, CA 91104

$2,995,000
Price
3
Beds
4,809 Sq. Ft.
$623 / Sq. Ft.
4,809
Sq. Ft.
$623
per Sq. Ft.

Description

The property is located at at 850 N Marengo Avenue, Pasadena. Built in 1958, the property comprises of three 1-bedroom/1-bathroom units, two 2-bedroom/1-bathroom units and two Studio units totaling in approximately 4,809 rentable square feet on a parcel of ±9,307 square feet of land zoned PSR1. Additionally, all units have been renovated extensively and the soft-story retrofit was recently completed. The property offers eight parking spaces are available and an on-site laundry facility. The appealing...The property is located at at 850 N Marengo Avenue, Pasadena. Built in 1958, the property comprises of three 1-bedroom/1-bathroom units, two 2-bedroom/1-bathroom units and two Studio units totaling in approximately 4,809 rentable square feet on a parcel of ±9,307 square feet of land zoned PSR1. Additionally, all units have been renovated extensively and the soft-story retrofit was recently completed. The property offers eight parking spaces are available and an on-site laundry facility. The appealing mix of 2-bedroom and 1-bedroom units and desirable location in Pasadena makes this building an enticing opportunity for investors aiming to expand their portfolio. Positioned in a good location in Pasadena on N Marengo Avenue, between N Fair Oaks Avenue and N Los Robles Avenue. This site buildings provide easy access to the 210 and 134 freeways. Convenient access to Downtown Pasadena which offers many attractions such as charming restaurants, bars, and plenty of shopping options. The sites are also nearby to the nation-renowned Rose Bowl stadium, which is host to sought after sporting events. As well as a short trip away from Brookside Golf Course contributing to the ascending demand for rentals in this neighborhood.
  1. Listed by Reza Ghobadi • DRE #01780045 • Brokerage DRE #01780045 • Reza Ghobadi • 818-793-2923

Property Details for 850 North Marengo Avenue

Parking Spaces Total
8
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4809
Assessor Parcel Number
5725-021-006
Property Attached YN
true
LISTING UPDATED: 07/23/2024 07:40 AM

Property Details for 850 North Marengo Avenue

StatusActive
MLS #SR24151271
Days on Market120
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
CountyLos Angeles County

Building Information for 850 North Marengo Avenue

Building/Complex850 N Marengo AveFloor-Stories2Residences-Pet Policy-Year Built1958Building Size-

Property Information for 850 North Marengo Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $189,000
  • Gross Scheduled Income: $186,000
  • Vacancy Allowance: 5580
  • Net Operating Income: $123,694
  • Laundry Income: $3,000
  • Gross Multiplier: 16.1
  • Cap Rate: 4.13
Expense Details
  • Operating Expense: $59,726
  • New Taxes Expense: $32,945
  • Gardener Expense: $1,440
  • Fuel Expense: $250
  • Pest Control Expense: $720
  • Electric Expense: $500
  • Insurance Expense: $3,500
  • Maintenance Expense: $6,650
  • Professional Management Expense: $9,171
  • Trash Expense: $2,900
  • Water Sewer Expense: $1,650
  • Total Expenses: $59,726
Tax / Assessment Info
  • Tax Tract Number: 462001
  • Tax Census Tract: 4620.01
  • CFD/Mello-Roos Fee: $1,619
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: Street
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lawn
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,695
  • Unit Type Total Rent: $2,695
  • Unit Type Pro Forma: 3900
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $6,305
  • Unit Type Total Rent: $6,305
  • Unit Type Pro Forma: 6750
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $5,500
  • Unit Type Total Rent: $5,500
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 0

Property History for 850 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 850 North Marengo Avenue

Taxable ValueLand$1,377,000Additions$459,270Total$1,836,270
Tax Record2024$21,741 ($1,812 / month)
Home Facts
Total Finished SqFt4,809 SqFtAbove Grade Finished SqFt4,809 SqFtLot Size9,307 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningPSR1CountyLOS ANGELESAPN5725-021-006

Schools near 850 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
Madison 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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850 North Marengo Avenue is a multi-family home for sale in Pasadena, CA 91104. This property was listed for sale on July 22, 2024 by Reza Ghobadi, it's currently listed at $2,995,000. It has been on the market for a total of 120 days and was last sold on November 9, 2022. 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. 850 North Marengo Avenue is a 3-bed, 0-bath, 4,809 sqft multi-family home built in 1958.

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 Reza Ghobadi, Reza Ghobadi, DRE #01780045

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.