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925 N Marengo Ave, Pasadena, CA 91103

  • $1,490,000

  • 8

    bed

  • 6

    bath

  • 3,834

    Sqft ($389/Sqft)

Multi-family for sale 39 days
Movoto is helping 25 homebuyers near you

About 925 N Marengo Ave

Property type Multi-family
Neighborhood
Year built 1947
HOA fee $0/month
Lot size 0.35 Acre
Movoto estimate
Property description
he offering consists of two parcels: APN 5729-016-011, improved with a duplex, and APN 5729-016-009, improved with a quadruplex. Built in 1947, the property totals approximately 3,834 rentable square feet on a large 15,124-square-foot PSR1-zoned corner lot. The unit mix includes four one-bedroom/one-bath units and two two-bedroom/one-bath units. Each unit features in-unit laundry and wall-unit air conditioning. The property also offers driveway access and six garage parking spaces.Current rents are below market, providing a new owner with the opportunity to renovate units, improve operations, and increase rental income as units turn. The oversized lot may also offer potential for future ADU development, creating an additional opportunity to enhance income and long-term value. Buyer to independently verify all development and ADU feasibility.Ideally located just north of Mountain Street and east of the 210 Freeway, the property provides convenient access to Old Pasadena, Downtown Pasadena, the Rose Bowl, Pasadena City College, Caltech, major employment centers, and the area's premier shopping, dining, and entertainment amenities. With strong tenant demand, limited multifamily inventory, and long-term appreciation potential, 917933 N Marengo Avenue represents a compelling investment opportunity in one of Pasadena's most established residential neighborhoods.
Listed by
Listing Agent - Angelica Gotzev
Listing Office - Kidder Mathews of California, Inc.
Source: The MLS mls logo
MLS#26860377 • last updated 1 month ago
Movoto checked The MLS for data 5 minutes ago
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Overview
Levels/Style One
MLS # 26860377
Type Residential Income
Status Active
SqFt 3834
Lot Size (SqFt) 15124
Lot Size (Acres) 0.2316
Year Built 1947
Interior
Total # of Baths 6
Total # of Bedrooms 8
Exterior
# Parking Spaces 6
Parking Desc Garage - 1 Car
Add'l Structures None
Amenities / Utilities
Equipment Dryer, Washer
Location
County Los Angeles
Zoning PSR1
APN 5729-016-009
Multifamily Details
Unit 1: Furnished No
Unit 1: Projected Rent 8780
Unit 1: # Beds 1
Unit 1: Rent 1030
Unit 2: Rent 1415
Unit 2: Furnished No
Unit 2: Projected Rent 5390
Unit 2: # Beds 2
Unit 2: # Baths 1
Unit 1: # Baths 1
Unit 2: Actual Rent 2830
Unit Type 2106, 2107
Unit 1: Actual Rent 4120
Total # Of Buildings 2
Net Operating Income 39473
Annual Rent 83400
Gross Income 83400
Gross Operating Income 80898
Gross Rent Multiplier 17.87
Total Annual Expenses 41425
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  • 925 N Marengo Ave

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