Seller's Agent in 2020
Steven Weinberg
Citadel Ventures, Inc.
(818) 992-4896
13 Total Sales
1315 N Marengo Ave Pasadena, CA 91103
Orange Heights NeighborhoodEstimated Value: $1,456,000 - $1,481,731
3
Beds
3
Baths
3,608
Sq Ft
$408/Sq Ft
Est. Value
Highlights
- Dual Staircase
- Craftsman Architecture
- 4-minute walk to La Pintoresca Park
- John Muir High School Rated A-
- Rectangular Lot
About This Home
As of February 2020This investment opportunity located in the Garfield Heights Landmark District of the City of Pasadena consists of a two-story apartment building constructed in 1892 on approximately 8,410 square feet of land zoned RM-12 LD-2 per public records. The residential units consist of 1- 2 bedroom 1 bathroom, 1- 1 bedroom 1 bathroom, and 4- studio units. Three of the units are rented to HUD Section 8 tenants. The units are separately metered for gas and electric and there are 5 parking garages in the rear of the property. Per public records the property shows as 4 units but there are 7 separate gas and 6 electric meters and the City of Pasadena Quadrennial Inspection report reflects 6 units. Buyer to make their own independent investigation regarding unit discrepancy. Garfield Heights is one of the oldest neighborhoods in Pasadena. This property may be eligible for Mills Act which may allow for a reduction of property taxes in exchange for the continued preservation of the property. Other incentives include: Use of more flexible provisions in the State Historical Building Code when making modifications to historic structures, waiver of covered parking requirements and potential variances from modern development standards for historic properties undergoing adaptive use or relocation. There is an application process with the city of Pasadena in order to be considered for the Mills Act. Buyer to make their own independent investigation.
Last Agent to Sell the Property
Citadel Ventures, Inc. License #00857322 Listed on: 10/16/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,900
Year Built
- Built in 1892
Lot Details
- 8,410 Sq Ft Lot
- Two or More Common Walls
- Rectangular Lot
Parking
- 5 Car Garage
Home Design
- Craftsman Architecture
- Apartment
- Fixer Upper
Interior Spaces
- 3,608 Sq Ft Home
- 2-Story Property
- Dual Staircase
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Utilities
- Natural Gas Connected
- Septic Type Unknown
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 15 / C
- Assessor Parcel Number 5729013019
Community Details
Overview
- 6 Units
Building Details
- 6 Leased Units
- Rent Control
- 6 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $252
- Fuel Expense $687
- Gardener Expense $1,425
- Insurance Expense $6,486
- Maintenance Expense $5,202
- Other Expense $4,164
- Professional Management Expense $2,998
- Trash Expense $1,666
- Water Sewer Expense $1,253
- New Taxes Expense $13,500
- Operating Expense $37,887
- Gross Income $76,704
- Net Operating Income $36,515
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jan 24, 2025
Sold by
Executive Investments Inc
Bought by
Blue Bay J Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$864,000
Interest Rate
6.87%
Mortgage Type
New Conventional
Purchase Details
Listed on
Oct 16, 2019
Closed on
Feb 11, 2020
Sold by
Goldman Martin B and Goldman David
Bought by
Executive Investments Inc
Seller's Agent
Steven Weinberg
Citadel Ventures, Inc.
Buyer's Agent
Ron Tanzman
Rodeo Realty
List Price
$1,080,000
Sold Price
$1,000,000
Premium/Discount to List
-$80,000
-7.41%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.24%
Purchase Details
Closed on
Dec 19, 2005
Sold by
Weiswasser David
Bought by
Weiswasser David
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Blue Bay J Llc | $1,440,000 | Progressive Title Company | |
| Executive Investments Inc | $1,000,000 | Lawyers Title Company | |
| Weiswasser David | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Blue Bay J Llc | $864,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/21/2020 02/21/20 | Sold | $1,000,000 | -7.4% | $277 / Sq Ft |
| 01/27/2020 01/27/20 | Pending | -- | -- | -- |
| 10/16/2019 10/16/19 | For Sale | $1,080,000 | -- | $299 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $12,900 | $1,093,641 | $820,233 | $273,408 |
| 2024 | $12,900 | $1,072,198 | $804,150 | $268,048 |
| 2023 | $12,790 | $1,051,176 | $788,383 | $262,793 |
| 2022 | $12,357 | $1,030,566 | $772,925 | $257,641 |
| 2021 | $11,797 | $1,010,360 | $757,770 | $252,590 |
| 2020 | $9,118 | $784,760 | $548,791 | $235,969 |
| 2019 | $9,137 | $769,374 | $538,031 | $231,343 |
| 2018 | $1,327 | $39,591 | $12,038 | $27,553 |
| 2016 | $1,223 | $38,055 | $11,571 | $26,484 |
| 2015 | $1,206 | $37,485 | $11,398 | $26,087 |
| 2014 | $1,222 | $36,751 | $11,175 | $25,576 |
Source: Public Records
Agents Affiliated with this Home
-
Steven Weinberg
-
Ron Tanzman
Buyer's Agent in 2020
Ron Tanzman
Rodeo Realty
(818) 880-9100
39 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR20035082
APN: 5729-013-019
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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