Seller's Agent in 2022
Gary Tolfa
Triqor Group
(949) 756-3232
2 in this area
12 Total Sales
850 N Marengo Ave Pasadena, CA 91103
Orange Heights Neighborhood
3
Beds
3
Baths
4,809
Sq Ft
9,307
Sq Ft Lot
About This Home
As of November 2022We are pleased to present the Marengo Apartments, a 7-Unit value-add apartment building in Central Pasadena. The property offers a mix of large studios, one and two-bedroom units with amenities such as wall A/C and heating, gas cooking and spacious floor plans. The building has been owned by the same family for generations. A buyer can benefit from renovations to capture more than 45% upside in rents, bringing the property up to a 6% Cap Rate. DISCLAIMER: This property will be delivered with (2) Vacant 2-bedroom units. Buyers must understand that the property has delinquencies and must be sold “As-Is.”
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1959
Lot Details
- 9,307 Sq Ft Lot
- Two or More Common Walls
- Rectangular Lot
Home Design
- 4,809 Sq Ft Home
- Apartment
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
Parking
- 2 Open Parking Spaces
- 9 Parking Spaces
- 7 Carport Spaces
Listing and Financial Details
- Tax Lot 6
- Assessor Parcel Number 5725021006
- $1,534 per year additional tax assessments
Community Details
Building Details
- Rent Control
- Operating Expense $37,684
- Gross Income $116,167
- Net Operating Income $78,483
Additional Features
- 7 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/09/2022 11/09/22 | Sold | $1,800,000 | -10.0% | $374 / Sq Ft |
| 10/14/2022 10/14/22 | Pending | -- | -- | -- |
| 10/07/2022 10/07/22 | For Sale | $2,000,000 | 0.0% | $416 / Sq Ft |
| 09/20/2022 09/20/22 | Pending | -- | -- | -- |
| 08/29/2022 08/29/22 | For Sale | $2,000,000 | -- | $416 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $21,741 | $1,872,720 | $1,404,540 | $468,180 |
| 2024 | $21,741 | $1,836,000 | $1,377,000 | $459,000 |
| 2023 | $21,561 | $1,800,000 | $1,350,000 | $450,000 |
| 2022 | $5,812 | $386,739 | $153,464 | $233,275 |
| 2021 | $5,579 | $379,156 | $150,455 | $228,701 |
| 2019 | $5,401 | $368,182 | $145,994 | $222,188 |
| 2018 | $5,355 | $360,969 | $143,132 | $217,837 |
| 2016 | $5,118 | $346,694 | $137,575 | $209,119 |
| 2015 | $5,057 | $341,487 | $135,509 | $205,978 |
| 2014 | $5,009 | $334,799 | $132,855 | $201,944 |
Source: Public Records
Agents Affiliated with this Home
-
Gary Tolfa
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22190123
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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