Multifamily listing
1385 n marengo
sold in
Los Angeles
Pasadena Triplex Sold @ 14.93 GRM & 3.88% CAP
Sold At
$
1,191,500
3
Number of Units
1980
Year Built
4,337
SF
Square Footage
13,015
SF
Lot Size
RM32
Zoning
1385 N Marengo Ave, Pasadena, CA 91103
About the Property
1385 N Marengo Ave is comprised of three separate single-family residences on a 13,000 SF lot zoned RM32. Alongside several family-friendly parks, the neighborhood is ideal for families who enjoy the tranquility of the suburbs with close proximity to DTLA and various Los Angeles hotspots. An investment in 1385-1389 Marengo Avenue provides an investor with the opportunity to own three homes in Pasadena, at a very attractive price, with the potential for 30% upside in rents. Developers should do their due diligence regarding the opportunity to build up to 10 units on this large lot.
1385 N Marengo Ave.
Northeast LA
Listed Price
$
Number of Units
3 Units
Price per. Unit
$397,167
Bldg. Size
4,337 SF
Price per Foot
$274
Lot Size
13,015 SF
Year Built
1980
Current CAP
3.88%
Market CAP
5.79%
Zoning
RM32
Download the OM to view Property Highlights, Financials & Sales Comparables
Price P/ Unit
$397,167
Price p/ Sq. ft.
$274
Proforma Cap Rate
5.79%
Contact
Sales agent
Related
Closed Listings
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