Bought with Gary Tolfa • Triqor Group
$1,800,000
$2,000,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
850 N Marengo Avenue Pasadena, CA 91103
4,809 SqFt
Key Details
Sold Price $1,800,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,809 sqft
Price per Sqft $374
MLS Listing ID CRPW22190123
Sold Date 11/09/22
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1959
Lot Size 9,307 Sqft
Property Description
We are pleased to present the Marengo Apartments, a 7-Unit value-add apartment building in Central Pasadena. The property offers a mix of large studios, one and two-bedroom units with amenities such as wall A/C and heating, gas cooking and spacious floor plans. The building has been owned by the same family for generations. A buyer can benefit from renovations to capture more than 45% upside in rents, bringing the property up to a 6% Cap Rate. DISCLAIMER: This property will be delivered with (2) Vacant 2-bedroom units. Buyers must understand that the property has delinquencies and must be sold “As-Is.â€
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Other
Building
Lot Description Other
Water Public
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