NOT LISTED FOR SALE

1385 N Marengo Ave Pasadena, CA 91103

La Pintoresca Park Neighborhood

Estimated Value: $1,990,000 - $2,739,000

10 Beds
6 Baths
4,337 Sq Ft
$564/Sq Ft Est. Value

Last Sold March 11, 2020

Last sale price $1,200,000 $277 Per Sq Ft

Est. 104% increase in value since last sale

Current estimated payment $14,188/month

141 Days on Market

Highlights

  • 2 Car Attached Garage
  • Central Heating
  • Ceiling Fan

About This Home

As of March 2020

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.

Last Agent to Sell the Property

Kenny Stevens

Compass License #01090251 Listed on: 10/02/2019

Compass

Last Buyer's Agent

Kenny Stevens

Compass License #01090251 Listed on: 10/02/2019

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1980

Lot Details

  • 0.3

Parking

  • 2 Car Attached Garage

Interior Spaces

  • 4,337 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Washer

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Additional Features

  • 0.3 Acre Lot
  • Central Heating

Community Details

  • 3 Buildings
  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 5729-008-014

Property Details

Home Type

Multi-Family

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4337
  • Stories: 2
  • Year Built: 1980
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 10
  • Total Bathrooms: 6.00
  • Equipment: Ceiling Fan, Gas Or Electric Dryer Hookup, Washer
  • Price Per S Q F T: 288.22

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Garage - 2 Car, Garage Is Attached
  • Total Parking: 6

Utilities

  • Cooling: Ceiling Fan
  • Heating: Central

Lot Info

  • Assessor Parcel Number: 5729-008-014
  • Geocode Override: No
  • Lot Size Area: 13015

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 15.66
  • Number Of Units: 3
  • Type Of Units: Townhomes

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 2, 2019
Closed on
Feb 24, 2020
Sold by
Sonne Telma Elizabeth and Roscoe Newbold Sonne
Bought by
Selassie Ably F and Selassie Tsega Sh
Seller's Agent
Kenny Stevens
Compass
Buyer's Agent
Kenny Stevens
Compass
List Price
$1,300,000
Sold Price
$1,200,000
Premium/Discount to List
-$100,000
-7.69%
Current Estimated Value
$2,445,203

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,245,203
Avg. Annual Appreciation
13.08%
Original Mortgage
$1,169,918
Outstanding Balance
$1,036,129
Interest Rate
3.5%
Mortgage Type
FHA
Estimated Equity
$1,409,074

Purchase Details

Closed on
Dec 22, 2014
Sold by
Sonne Roscoe Newbold and Sonne Ann V
Bought by
Trust

Purchase Details

Closed on
Feb 6, 1998
Sold by
Jr And Ann Sonne Trust Sonne Roscoe N Jr And
Bought by
Sonne Roscoe Newbold and Sonne Ann V

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$172,500
Interest Rate
6.98%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Selassie Ably F $1,191,500 North American Title Company
Trust -- None Available
Sonne Roscoe Newbold -- First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Selassie Ably F $1,169,918
Previous Owner Sonne Roscoe Newbold $172,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/11/2020 03/11/20 Sold $1,200,000 -4.0% $277 / Sq Ft
02/20/2020 02/20/20 Pending -- -- --
12/11/2019 12/11/19 Price Changed $1,250,000 -3.8% $288 / Sq Ft
10/02/2019 10/02/19 For Sale $1,300,000 -- $300 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $16,507 $1,417,518 $765,550 $651,968
2024 $16,507 $1,389,725 $750,540 $639,185
2023 $15,118 $1,252,476 $735,824 $516,652
2022 $14,606 $1,227,919 $721,397 $506,522
2021 $13,912 $1,203,843 $707,252 $496,591
2020 $4,755 $357,014 $178,507 $178,507
2019 $4,762 $350,014 $175,007 $175,007
2018 $4,678 $343,152 $171,576 $171,576
2016 $4,472 $329,828 $164,914 $164,914
2015 $4,422 $324,874 $162,437 $162,437
2014 $4,360 $318,512 $159,256 $159,256
Source: Public Records

Agents Affiliated with this Home

  • Kenny Stevens

    Seller's Agent in 2020

    Kenny Stevens

    Compass

    (424) 284-4453

    43 Total Sales

    Kenny Stevens
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Map

Source: The MLS

MLS Number: 19-516806

The MLS

APN: 5729-008-014

California Los Angeles County Pasadena 91103 La Pintoresca Park

1385 N Marengo Ave, Pasadena, CA

Not Listed for Sale

MultiFamily

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