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1385 N Marengo Ave Pasadena, CA 91103

$1,200,000 Sold Price as of 03/11/2020

10 Beds
6 Baths
-- Sq.Ft.

Sold

$1,200,000 Sold Price as of 03/11/2020 Refinance Your Mortgage

Map preview of 1385 N Marengo Ave, Pasadena, CA 91103

Property Overview: 1385 N Marengo Ave Pasadena, CA has 10 bedrooms, 6 bathrooms, -- living square feet and 13,015 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Kenny Stevens | BRE #01090251 | Compass

Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 141

Home details

Lot Sq. Ft: 13,015
HOA Dues: $0/mo
Year built: 1980
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19516806
City: Pasadena
County: Los Angeles
Time on Site: 1399 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 3
Total # of Buildings: 3

Unit Breakdown 1

# of Units: --
# of Beds: 4
# of Baths: 2
Actual Rent: $2,700
Total Rent: --

Unit Breakdown 2

# of Units: --
# of Beds: 3
# of Baths: 2
Actual Rent: $2,100
Total Rent: --

Unit Breakdown 3

# of Units: --
# of Beds: 3
# of Baths: 2
Actual Rent: $1,850
Total Rent: --

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 15.66
Gross Scheduled Income: --
Net Operating Income: $44,878
Gross Operating Income: $77,406

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1385 N Marengo Ave

Interior Features

Heating Information

Has Heating
Central

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Garage - Two Door

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 3
Parcel Number: 5729008014

Location / Neighborhood

Location Information

Directions: North of E. Washington Blvd. on N. Marengo Ave.

View more facts & features

Local Pasadena Agent

Sale History for 1385 N Marengo Ave

Last sold for $1,200,000 on March 11th, 2020

March, 2020
Mar 11, 2020

Date

Sold

CRMLS: 19516806

$1,200,000

Price
Feb 20, 2020

Date

Active Under Contract

CRMLS: 19516806

$1,250,000

Price
Dec 12, 2019

Date

Price Change

CRMLS: 19516806

$1,250,000

Price
Oct 2, 2019

Date

Active

CRMLS: 19516806

$1,300,000

Price
March, 2020
Mar 9, 2020

Date

Sold (Public Records)

Public Records

$1,191,500

Price
February, 2019
Feb 26, 2019

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1385 N Marengo Ave

Assessed Value (2020): $357,014

Year	Land Value	Improved Value	Assessed Value
2020	$178,507	$178,507	$357,014

Home Value Compared to the Market

This property vs the competition

1385 N Marengo Ave sold on March 11, 2020 for 0% higher than the current median sold price for the city of Pasadena which is $1,250,000.

About 1385 N Marengo Ave

Detailed summary of property

1385 N Marengo Ave is a multi family that recently sold in Pasadena, CA 91103. This multi family property offered 10 bedrooms, 6 bathrooms, roughly -- living square feet, and sits on an approximately 13,015 square foot lot. 1385 N Marengo Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,200,000. Home in Pasadena are selling for a median price of $1,250,000 and a median price per square foot of $763. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 0% higher than the current median priced home. Local homes that are currently for sale include 5938 E Echo St, 5745 Arroyo Dr and 4951 Baltimore St. While the average home in Pasadena, CA is selling in 51 days, 1385 N Marengo Ave has a days on market of 141 days. There are currently 278 homes for sale in the Pasadena real estate market and 169 of them are single family homes while 83 of them are condos and 26 are townhomes. For more information on this home for sale at 1385 N Marengo Ave Pasadena, CA 91103 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 1385 N Marengo Ave

Public county record property details

Beds: 10
Baths: 6
Year built: 1980
Sq. Ft.: 4,337
Lot Size: 13,015
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 1
APN: 5729-008-014

The source for these homes facts are from public records.

91103 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,049,000

Median List Price/Sq.Ft.

$784

Median Sold Price

$1,129,000

Median Sold Price/Sq.Ft.

$776

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (26.67%), FHA (0%), VA (0%), Cash (33.33%), Other (26.67%)

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.