NOT LISTED FOR SALE

850 N Marengo Ave Pasadena, CA 91103

Orange Heights Neighborhood
3 Beds
3 Baths
4,809 Sq Ft
9,307 Sq Ft Lot

Last Sold November 09, 2022

Last sale price $1,800,000 $374 Per Sq Ft

46 Days on Market

Highlights

  • Laundry Room
  • John Muir High School Rated A-
  • Rectangular Lot

About This Home

As of November 2022

We 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.”

Last Agent to Sell the Property

Gary Tolfa

Triqor Group License #00955403 Listed on: 08/29/2022

Last Buyer's Agent

Gary Tolfa

Triqor Group License #00955403 Listed on: 08/29/2022

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

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Price Per Unit: 285714
  • Property Attached: Yes
  • Zoning: PSR1
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5725021006
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 374.30

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 7.00
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 9307.00
  • Lot Size Acres: 0.2137

Multi Family

  • Gross Income: 116167.00
  • Gross Scheduled Income: 119760.00
  • Lot Size Area: 9307.0000 Square Feet
  • Net Operating Income: 78483.00
  • Number Of Units Total: 7
  • Operating Expense: 37684.00
  • Rent Control: Yes
  • Total Expenses: 37684.00

Tax Info

  • Tax Census Tract: 4620.01
  • Tax Lot: 6
  • TaxOtherAnnualAssessmentAmount: 1534.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Gary Tolfa

    Seller's Agent in 2022

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    2 in this area

    19 Total Sales

    Gary Tolfa
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22190123

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Pasadena 91103 Orange Heights

850 N Marengo Ave, Pasadena, CA

This home is located at 850 N Marengo Ave, Pasadena, CA 91103 since 29 August 2022. This property was built in 1959. 850 N Marengo Ave is a home located in Los Angeles County with nearby schools including Madison Elementary School, Octavia E. Butler Magnet, and John Muir High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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