902 S Marengo Ave Pasadena, CA 91106
Madison Heights NeighborhoodEstimated payment $13,805/month
Highlights
- City Lights View
- Property is near park and public transit
- Quartz Countertops
- Midcentury Modern Architecture
- Wood Flooring
- Lawn
About This Home
Prime 6-Unit Multifamily in Pasadena's Coveted Madison Heights – Walk Score 86, Steps from ArtCenter College of Design campus, Huntington Hospital, Whole Foods, Old Pasadena, and Metro Gold Line. 5% CAP Rate in an A-Class Location – Fantastic Demographics, Nearby many new Townhomes/Condominiums, 4 car garage prime for 2 ADUs, Many CAPEX Completed. 902 S Marengo Ave, a rare 6-unit multifamily gem in Pasadena's elite Madison Heights neighborhood. This property represents a rare "Value-Add" play in a Class-A location, offering a high 5% CAP rate with significant potential for further appreciation through ADU development and long-term improvements. This garden-style asset sits in an A-location, steps from ArtCenter College of Design, Whole Foods, Shake Shack, and a short walk to Old Pasadena's vibrant scene, the Pasadena Playhouse, and Metro Gold Line. With a Walk Score of 86, Fantastic Demographics of $163k in a-mile radius, and proven appeal to high-caliber tenants (including international ArtCenter students and Caltech professionals), it delivers effortless leasing and superior retention – most units rent to young pros seeking walkable luxury. Built in 1928 (fourplex) and 1956 (duplex) per online permits from city’s website, the 3,192 SF property on a 7,749 SF lot boasts timeless charm: high ceilings, abundant windows, original hardwoods in the front building, plus modern touches like mini-split HVAC, upgraded electrical, and recent exterior paint. Unit mix includes 4 x 1BD/1BA and 2 x large studios. Two units fully renovated with in-unit laundry; others feature targeted upgrades and share seller-owned machines. Overparked with 4 garages (ADU-ready), 2 carports, and open spaces; individually metered utilities streamline ops. The front building has a colonial architecture charm and consists of 4 units (2 x 1bed+1bath and 2 x Studio units). All 4 units have high ceiling, original hardwood floor, plenty of windows, mini-split HVAC, ceiling fans, tiled kitchen and bathroom. 1 unit has been fully upgraded with modern upgrades like newer flooring, new bathroom, new kitchen, and in-unit laundry. The back building was built in 1956 and consists of 2 x 1bed units. The bottom unit has been fully upgraded with new flooring, new kitchen, and in-unit laundry. It has large private backyard. The upstairs unit has a large private deck.
Listing Agent
Growth Investment Group Pasade Brokerage Email: han.chen@growthinvestmentgroup.com License #01749321 Listed on: 02/27/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $28,294
Year Built
- Built in 1956 | Remodeled
Lot Details
- 7,749 Sq Ft Lot
- Two or More Common Walls
- West Facing Home
- Landscaped
- Rectangular Lot
- Level Lot
- Sprinklers on Timer
- Lawn
- Value in Land
Parking
- 4 Car Garage
- 2 Open Parking Spaces
- 2 Attached Carport Spaces
- Parking Available
- Assigned Parking
Home Design
- Midcentury Modern Architecture
- Colonial Architecture
- Apartment
- Entry on the 1st floor
- Raised Foundation
- Slab Foundation
- Shingle Roof
- Partial Copper Plumbing
Interior Spaces
- 3,192 Sq Ft Home
- 2-Story Property
- Partially Furnished
- Ceiling Fan
- Recessed Lighting
- Storage
- City Lights Views
Kitchen
- Gas Oven
- Gas Range
- Freezer
- Quartz Countertops
- Disposal
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Location
- Property is near park and public transit
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Natural Gas Connected
- Water Heater
- Phone Available
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 5720022006
- $1,751 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 6 Units
- Valley
Amenities
- Laundry Facilities
Building Details
- 6 Leased Units
- Rent Control
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Fuel Expense $853
- Gardener Expense $1,170
- Insurance Expense $7,143
- Maintenance Expense $3,029
- Trash Expense $4,667
- Water Sewer Expense $2,361
- New Taxes Expense $28,294
- Operating Expense $51,289
- Gross Income $164,880
- Net Operating Income $110,293
Map
Home Values in the Area
Average Home Value in this Area
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 | $22,642 | $1,888,949 | $1,273,449 | $615,500 |
| 2024 | $21,636 | $1,851,912 | $1,248,480 | $603,432 |
| 2023 | $21,456 | $1,815,600 | $1,224,000 | $591,600 |
| 2022 | $20,721 | $1,780,000 | $1,200,000 | $580,000 |
| 2021 | $10,647 | $878,732 | $487,309 | $391,423 |
| 2020 | $10,248 | $869,723 | $482,313 | $387,410 |
| 2019 | $10,266 | $852,670 | $472,856 | $379,814 |
| 2018 | $10,362 | $835,952 | $463,585 | $372,367 |
| 2016 | $10,010 | $803,493 | $445,585 | $357,908 |
| 2015 | $9,896 | $791,424 | $438,892 | $352,532 |
| 2014 | $9,726 | $775,922 | $430,295 | $345,627 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/27/2026 02/27/26 | For Sale | $2,200,000 | +23.6% | $689 / Sq Ft | |
| 07/15/2021 07/15/21 | Sold | $1,780,000 | -0.8% | $558 / Sq Ft | View Prior Sale |
| 05/27/2021 05/27/21 | Pending | -- | -- | -- | |
| 05/24/2021 05/24/21 | For Sale | $1,795,000 | -- | $562 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: AR26043987
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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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