CA > Pasadena
Pasadena, CA 91103,1315 N Marengo Avenue
Pasadena, CA 91103,1315 N Marengo Avenue
Pasadena, CA 91103,1315 N Marengo Avenue
32
See all 32 photos
Listed by Han Chen • Growth Investment Group Pasade
$1,550,000
Est. payment /mo
Save
3,608 SqFt
Pending

1315 N Marengo Avenue Pasadena, CA 91103

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Thu
13
Feb
Fri
14
Feb
Sat
15
Feb
Kenneth Er

Kenneth Er

+1(510) 828-8572

UPDATED:

02/12/2025 07:57 AM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Pending

Purchase Type For Sale

Square Footage 3,608 sqft

Price per Sqft $429

MLS Listing ID CRAR24246708

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1892

Lot Size 8,412 Sqft

Property Sub-Type Other

Property Description

This 6-unit Value-add apartment offering provides a whopping ±6.77% CAP Rate and ±7.95% Proforma CAP Rate translates to over 9% cash-on-cash return (buyer to verify), which is currently one of the highest CAP Rate for apartments in Pasadena submarket. The property is a two-story apartment with charming colonial revival architecture. It was built in 1892; it has a large building size of ±3,608 SF and is situated on a ±8,410 SF lot. It offers a desirable unit mix of two (2) x 2bed+1bath, and Four (4) x Studio units. Five (5) units have been upgraded with brand new flooring throughout, LED lighting, updated bathroom, 4 units have brand new kitchen with quartz countertops + new kitchen cabinets + stainless steel appliances, and much more. Most of the units are very charming, 2 units have high ceilings. The remaining non-upgraded 1 unit provide ±15% rental upside, which upon turnover will take the current CAP Rate to a whopping ±7.95% proforma CAP Rate (buyer to verify). There is a garage space that is being rented out for an additional income. One of the unit is vacant and can be delivered vacant. The property is a “smart building” with lighting and sprinkler watering controlled via smartphone, and it is secured via a security camera monitoring system. The property has new

Location

State CA

County Los Angeles

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Laminate, Vinyl, Carpet

Fireplace No

Laundry Community Facility, Other

Exterior

View None

Building

Lot Description Level, Other

Water Public

Bay East AOR and Contra Costa AOR
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.

GET MORE INFORMATION

agent

Kenneth Er

Agent | License ID: 01942269

+1(510) 828-8572

Name
Phone*
Message

By checking this box, I agree by electronic signature to (1) the Electronic Disclosure Consent; (2) receive recurring marketing communication from or on behalf of Compass, including auto-dialed calls, texts, and prerecorded messages (consent not required to make a purchase; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for help); and (3) the Terms of Service and Privacy Policy of this website. I understand that I can call +1(510) 828-8572 to obtain direct assistance.

Go tour this home

1315 N Marengo Avenue

QUICK SEARCH