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    583 N Marengo Avenue

    Pasadena, CA 91101
    • $2,950,000
    • STATUS: Active
    • ON SITE: 73 days
    • ID#: MB21037786
    $2,950,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,566
      SQFT
    • $390
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:

    School Ratings & Info

    Description

    Great Opportunity for Investors! 100% occupied Multi-Unit building with strong returns located in beautiful Pasadena. Sitting on a 16,649 Square foot lot, 583 N Marengo Ave is a two-story, eight (8) unit multifamily property with a building size of 7,566 square feet. The building consists of 8 spacious units of four (4) two-bedroom one bath and four (4) two-story (Townhouse style) units with 2 bedroom and 1.5 baths. The property offers each tenant (2) enclosed parking garage spaces per unit. All the units have washer machine hookups in the kitchen and separate water heaters. Some units include balcony or patio areas for private outdoor spaces. 583 N Marengo Ave is conveniently located close to Old Town and the 210/134 Freeways! A property with huge growth potential.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T00:31:44.637. 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 The Bhagat Group. Licensed in the State of California, USA.
    www.propertycove.com/homes/114476758
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    583 N Marengo Avenue Pasadena, CA 91101

    • Price: $2,950,000
    • Status: Active
    • ID#: MB21037786
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    7,566
    SQFT
    $390
    $/SQFT
    1953
    Built
    Neighborhood:
    646 - Pasadena (NE)
    County:
    Los Angeles
    Area:
    646 - Pasadena (NE)
    Property Description
    Great Opportunity for Investors! 100% occupied Multi-Unit building with strong returns located in beautiful Pasadena. Sitting on a 16,649 Square foot lot, 583 N Marengo Ave is a two-story, eight (8) unit multifamily property with a building size of 7,566 square feet. The building consists of 8 spacious units of four (4) two-bedroom one bath and four (4) two-story (Townhouse style) units with 2 bedroom and 1.5 baths. The property offers each tenant (2) enclosed parking garage spaces per unit. All the units have washer machine hookups in the kitchen and separate water heaters. Some units include balcony or patio areas for private outdoor spaces. 583 N Marengo Ave is conveniently located close to Old Town and the 210/134 Freeways! A property with huge growth potential.
    Exterior Features

    Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 0 Parking Features Garage Parking Total 16 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes

    Property Features

    Additional Parcels YN No Cap Rate 3.4 Common Interest None Community Features FoothillsHikingSidewalks Contingency Drive By OnlyDo Not Disturb Tenants. Inspection Upon Accepted Offer. Please Do Not Walk The Property. *3 Units Have Section 8 Tenants Paying $1723Partially Paid By City Of Pasadena. Please Contact Or Email Ruben For Additional information: Ruben@Sourcerealty.La / 323-240-4433. All Offers Should Be Sent To Ruben@Sourcerealty.LaPlease include Proof Of Funds. Electric Expense 4341 Fuel Expense 0 Garage YN Yes Gross Income 157413 Gross Scheduled Income 157413 Insurance Expense 3546 Land Lease YN No Laundry Features Common AreaLaundry RoomSee Remarks Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 Exchange Net Operating Income 100765 New Construction YN No New Taxes Expense 21400 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 8 Number Of Units Leased 8 Operating Expense 35248 Possession Close Of Escrow Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 4984 Water Sewer Expense 4341 Water Source Public Zoning Psr1

    Listing provided courtesy of Ruben Sanchez of Source Realty Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T00:31:44.637. 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 The Bhagat Group. Licensed in the State of California, USA.
     
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    Torrance CA, 90505