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917-933 N MARENGO AVE 2 Multifamily Properties Offered at $1,490,000 in Pasadena, CA
Executive Summary
Kidder Mathews is pleased to exclusively present 917-933 N Marengo Ave, a rare 6-unit value-add multifamily offering located in the highly sought-after Pasadena submarket.
Offered for the first time in over 23 years, the property presents investors with a unique opportunity to acquire a long-term ownership asset in one of Pasadena’s most stable and desirable rental markets.Built in 1947, the property consists of a quadruplex and duplex totaling approximately 3,834 rentable square feet on a large 15,124 square foot PSR1-zoned lot. The unit mix includes four (4) one-bedroom/one-bath units and two (2) two-bedroom/one-bath units. Each unit features in-unit laundry and wall-unit air conditioning. The property also offers driveway access and six (6) garage parking spaces, providing valuable on-site parking in a market where parking is highly desirable.
917-933 N Marengo Ave represents an ideal value-add investment opportunity with meaningful upside potential. Current rents are below market, allowing a new investor
the opportunity to eventually renovate units, improve operations, and increase rental income as units turn. Additionally, the property’s large lot may provide potential
for future ADU development, creating an opportunity to further enhance income and long-term value. Buyer to independently verify ADU feasibility and development
potential. The property is ideally positioned in one of Pasadena’s most established residential neighborhoods, just east of the 210 Freeway and north of Mountain Avenue.
Residents benefit from convenient access to Old Pasadena, Downtown Pasadena, the Rose Bowl, Pasadena City College, Caltech, major employment centers, and
the area’s premier shopping, dining, and entertainment amenities. With strong tenant demand, limited multifamily inventory, and long-term appreciation fundamentals,
917-933 N Marengo Ave offers investors a rare opportunity to acquire a value-add multifamily asset in a premier Pasadena location.
Offered for the first time in over 23 years, the property presents investors with a unique opportunity to acquire a long-term ownership asset in one of Pasadena’s most stable and desirable rental markets.Built in 1947, the property consists of a quadruplex and duplex totaling approximately 3,834 rentable square feet on a large 15,124 square foot PSR1-zoned lot. The unit mix includes four (4) one-bedroom/one-bath units and two (2) two-bedroom/one-bath units. Each unit features in-unit laundry and wall-unit air conditioning. The property also offers driveway access and six (6) garage parking spaces, providing valuable on-site parking in a market where parking is highly desirable.
917-933 N Marengo Ave represents an ideal value-add investment opportunity with meaningful upside potential. Current rents are below market, allowing a new investor
the opportunity to eventually renovate units, improve operations, and increase rental income as units turn. Additionally, the property’s large lot may provide potential
for future ADU development, creating an opportunity to further enhance income and long-term value. Buyer to independently verify ADU feasibility and development
potential. The property is ideally positioned in one of Pasadena’s most established residential neighborhoods, just east of the 210 Freeway and north of Mountain Avenue.
Residents benefit from convenient access to Old Pasadena, Downtown Pasadena, the Rose Bowl, Pasadena City College, Caltech, major employment centers, and
the area’s premier shopping, dining, and entertainment amenities. With strong tenant demand, limited multifamily inventory, and long-term appreciation fundamentals,
917-933 N Marengo Ave offers investors a rare opportunity to acquire a value-add multifamily asset in a premier Pasadena location.
Property Facts
| Price | $1,490,000 | Number of Properties | 2 |
| Price / SF | $388.63 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 3,834 SF |
| Status | Active | Total Land Area | 0.35 AC |
| Price | $1,490,000 |
| Price / SF | $388.63 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 3,834 SF |
| Total Land Area | 0.35 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 933 N Marengo Ave, Pasadena, CA 91103 | Multifamily | 2,560 SF | 1947 | - |
| 917 N Marengo Ave, Pasadena, CA 91103 | Multifamily | 1,274 SF | 1947 | - |
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