This unique value-add opportunity 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 Avenue
1385 N. Marengo Avenue, Pasadena
Property Details.
Year Built 1980
# of Units 3
Price P/ Unit $397,166
Sq. ft. 4,337 SF
Price p/ Sq. ft. $274
Lot Size 13,015 SF
Zoning RM32
1385 N. Marengo Avenue
Pasadena, CA 91103
Pasadena, CA 91103
About the Property
The Opportunity
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.
