Price: $2,995,000 | 7 Units
Building SF: 4,809 SF | Lot Size: 9,307 SF
ADDRESS
850 N. Marengo Avenue
Pasadena, CA 91103
Colliers International’s Ghobadi Multifamily Team is pleased to present 850 N. Marengo Avenue in Pasadena. Built in 1958, this apartment complex comprises three 1-bedroom/1-bathroom units, two 2-bedroom/1-bathroom units and two Studio units totaling approximately 4,809 rentable square feet on a parcel of ±9,307 square feet of land zoned PSR1. All units have been renovated extensively and soft-story retrofit was recently completed. The property also offers eight parking spaces and an on-site laundry facility. The appealing unit mix and desirable Pasadena location make this building a desirable opportunity for investors looking to expand their portfolio.
The building is positioned in a great centralized area of Pasadena on N. Marengo Avenue between N. Fair Oaks Avenue and N. Los Robles Avenue, providing easy access to the 210 and 134 Freeways. The convenient access to Downtown Pasadena offers many attractions such as charming restaurants, bars, and plenty of shopping options. The site is also near the renowned Rose Bowl Stadium, Brookside Golf Course, Pasadena City Hall, the Playhouse District, Old Town Pasadena, California Institute of Technology and Pasadena City College, all contributing to the ascending demand for rentals in this neighborhood.
PROPERTY INFORMATION
APN: 5725-021-006
Lot Size: 9,307 SF
Building Size: 4,809 SF
Laundry Facility: Yes
Zoning: PSR1
Parking: 8 Spaces
Soft-Story Retrofit: Yes