731 S Marengo Avenue

    Pasadena, CA 91106
    • $2,200,000
    • STATUS: Active
    • ON SITE: 24 days
    • ID#: 19492928
    UPDATED: 30 min ago
    $2,200,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,949
      SQFT
    • $370
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:

    School Ratings & Info

    Description

    Prime Pasadena multifamily INCOME or RM 32 DEVELOPMENT w/office overlay Opportunity! Fabulous location & great upside potential! Value add w/under market rents. 2 four plexes , 1 APN. Corner, 'street to alley'. Only 0.2 miles to Fillmore Gold Line Station. 1 mile to Old Town Pasadena's award winning dining, shopping & entertainment. 84 Walk score & close to 210, 134 and 110 to downtown Los Angeles. Built in 1953, 191 E Fillmore is a 4 Plex with 1+1 mix and 5 separate 1 car garages adjacent to alley & parking lot for retail at S. Arroyo Parkway. 731 S. Marengo is a Craftsman style SFR built in 1905, legally divided (1984) into 4 plex (Mix is 1+1) with a laundry room & full unused Basement w/ windows. Buyer to check TOD density bonus possibilities allowed under State regulations & Fair Oaks Specific Plan. Trust sale, no court confirmation. Buyer to cooperate with Seller's 1031 Exchange. Proforma CAP 5.29 ! 12 luxury townhomes construction next door

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-19T23:38:25.247. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/97329100

    731 S Marengo Avenue Pasadena, CA 91106

    • Price: $2,200,000
    • Status: Active
    • Updated: 30 min ago
    • ID#: 19492928
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    5,949
    SQFT
    $370
    $/SQFT
    1953
    Built
    Neighborhood:
    648 - Pasadena (SE)
    County:
    Los Angeles
    Area:
    648 - Pasadena (SE)
    Property Description
    Prime Pasadena multifamily INCOME or RM 32 DEVELOPMENT w/office overlay Opportunity! Fabulous location & great upside potential! Value add w/under market rents. 2 four plexes , 1 APN. Corner, 'street to alley'. Only 0.2 miles to Fillmore Gold Line Station. 1 mile to Old Town Pasadena's award winning dining, shopping & entertainment. 84 Walk score & close to 210, 134 and 110 to downtown Los Angeles. Built in 1953, 191 E Fillmore is a 4 Plex with 1+1 mix and 5 separate 1 car garages adjacent to alley & parking lot for retail at S. Arroyo Parkway. 731 S. Marengo is a Craftsman style SFR built in 1905, legally divided (1984) into 4 plex (Mix is 1+1) with a laundry room & full unused Basement w/ windows. Buyer to check TOD density bonus possibilities allowed under State regulations & Fair Oaks Specific Plan. Trust sale, no court confirmation. Buyer to cooperate with Seller's 1031 Exchange. Proforma CAP 5.29 ! 12 luxury townhomes construction next door
    Exterior Features

    Architectural Style Craftsman Garage Spaces 5.00 Lot Features LawnCorner LotWalkstreetNear Public TransitPavedLandscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Features Street Parking Total 5.00 Parking YN Yes

    Interior Features

    Appliances Water Heater Central Appliances YN Yes Interior Features High Ceilings Laundry Features CommunityInsideSee Remarks Room Type Basement

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 2.79 Community Features SidewalksStreet Lights Gross Multiplier 18.07 Gross Operating Income 123248.00 Improvements Amount 633746 Land Value 1478742 Laundry YN Yes Net Operating Income 61306.00 Special Listing Conditions Standard Total Expenses 60472.00 Zoning Psr*

    Listing provided courtesy of Jennifer R. Maraia of Keller Williams Realty Calabas and Robert Maraia of Keller Williams Realty Calabas


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-19T23:38:25.247. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.
     
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