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405 N Marengo Ave, Pasadena, CA 91101
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405 N Marengo Ave Pasadena, CA 91101

$4,475,000
  • 17 Beds
  • 15 Baths
  • 10,362 Sq.Ft.
For Sale
$4,475,000 Get Pre-Qualified
Map preview of 405 N Marengo Ave, Pasadena, CA 91101

Property Overview: 405 N Marengo Ave Pasadena, CA has 17 bedrooms, 15 bathrooms, 10,362 living square feet and 12,420 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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 .

Listed by Jonathan Weir | BRE #02038545 | Marcus & Millichap
Last checked: 13 minutes ago | Last updated: September 4th, 2024 | Source CRMLS | DOM: 19

Home details

Lot Sq. Ft
12,420
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24432995
City
Pasadena
County
Los Angeles
Time on Site
18 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,795
  • Total Rent: $2,795
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 2
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,902
  • Total Rent: $1,902
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,045
  • Total Rent: $2,045
  • Pro Forma/Market Rent: $2,395
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.48
  • Gross Scheduled Income: --
  • Net Operating Income: $223,567
  • Gross Operating Income: $331,980
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 405 N Marengo Ave

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Property Details for 405 N Marengo Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Disposal
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
  • Has Parking
  • Parking Features: Uncovered
Property Information
  • Total # of Units: 14
  • Parcel Number: 5725023039
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: N Marengo Ave and Maple St
View more facts & features

Local Pasadena Agent

Sale History for 405 N Marengo Ave

Last sold for $1,630,000 on May 9th, 2005

  • August, 2024

  • Aug 27, 2024

    Date

    Active

    CRMLS: 24432995

    $4,475,000

    Price

  • May, 2005

  • May 9, 2005

    Date

    Sold (Public Records)

    Public Records

    $1,630,000

    Price

Show More

Tax History for 405 N Marengo Ave

Assessed Value (2020): $2,078,964
Year Land Value Improved Value Assessed Value
2020 $1,057,880 $1,021,084 $2,078,964

Home Value Compared to the Market

This property vs the competition

405 N Marengo Ave is listed 266.8% higher than the median list price for the city of Pasadena which has a median list price of $1,220,000. The median price per/sqft for Pasadena is $758 and this home is listed at $431.87 per/sqft which puts the price per square foot 43.03% lower than the median price per square foot for the city of Pasadena.

About 405 N Marengo Ave

Detailed summary of property

405 N Marengo Ave is a multi family located in Pasadena, CA 91101 and is currently for sale. This multi family property offers 17 bedrooms, 15 bathrooms, roughly 10,362 living square feet, and sits on an approximately 12,420 square foot lot. 405 N Marengo Ave was first listed on ArdentRealEstateGroup.com on August 28, 2024. The homeowner is currently asking $4,475,000. The median priced home in Pasadena is $1,220,000 with a median price per square foot of $758. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 266.8% higher than the median priced home. Local competing homes currently for sale include 1684 Murchison St, 3168 Wabash Ave and 2505 Berkeley St. While the average home in Pasadena, CA is selling in 56 days, 405 N Marengo Ave has a days on market of 19 days. There are currently 325 homes for sale in the Pasadena real estate market and 178 of them are single family homes while 112 of them are condos and 35 are townhomes. For more information on this home for sale at 405 N Marengo Ave Pasadena, CA 91101 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 405 N Marengo Ave

Public county record property details
Beds
17
Baths
16
Year built
1960
Sq. Ft.
10,362
Lot Size
12,622
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9,10
APN
5725-023-039

The source for these homes facts are from public records.

91101 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$849,000
Median List Price/Sq.Ft.
$728
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$798
Total Inventory
57
Median Sale to List Price %
99.01%
Avg Days on Market
60
Loan Type
Conventional (45.45%), FHA (0%), VA (0%), Cash (36.36%), Other (18.18%)

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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.

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