902 S MARENGO AVE Pasadena, CA 91106
7,749 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26043987
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1956
Annual Tax Amount $28,294
Lot Size 7,749 Sqft
Property Sub-Type Apartment
Property Description
902 S Marengo Ave, a rare 6-unit multifamily gem in Pasadena's elite Madison Heights neighborhood. This property represents a rare "Value-Add" play in a Class-A location, offering a high 5% CAP rate with significant potential for further appreciation through ADU development and long-term improvements. This garden-style asset sits in an A-location, steps from ArtCenter College of Design, Whole Foods, Shake Shack, and a short walk to Old Pasadena's vibrant scene, the Pasadena Playhouse, and Metro Gold Line. With a Walk Score of 86, Fantastic Demographics of $163k in a-mile radius, and proven appeal to high-caliber tenants (including international ArtCenter students and Caltech professionals), it delivers effortless leasing and superior retention – most units rent to young pros seeking walkable luxury.
Built in 1928 (fourplex) and 1956 (duplex) per online permits from city's website, the 3,192 SF property on a 7,749 SF lot boasts timeless charm: high ceilings, abundant windows, original hardwoods in the front building, plus modern touches like mini-split HVAC, upgraded electrical, and recent exterior paint. Unit mix includes 4 x 1BD/1BA and 2 x large studios. Two units fully renovated with in-unit laundry; others feature targeted upgrades and share seller-owned machines. Overparked with 4 garages (ADU-ready), 2 carports, and open spaces; individually metered utilities streamline ops.
The front building has a colonial architecture charm and consists of 4 units (2 x 1bed+1bath and 2 x Studio units). All 4 units have high ceiling, original hardwood floor, plenty of windows, mini-split HVAC, ceiling fans, tiled kitchen and bathroom. 1 unit has been fully upgraded with modern upgrades like newer flooring, new bathroom, new kitchen, and in-unit laundry.
The back building was built in 1956 and consists of 2 x 1bed units. The bottom unit has been fully upgraded with new flooring, new kitchen, and in-unit laundry. It has large private backyard. The upstairs unit has a large private deck.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Interior
Interior Features Ceiling Fan(s), Partially Furnished, Quartz Counters, Recessed Lighting, Storage, Unfurnished
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl, Wood
Fireplaces Type None
Fireplace No
Appliance Freezer, Disposal, Gas Oven, Gas Range, Refrigerator, Water Heater, Dryer, Washer
Laundry Common Area, Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Attached Carport, Assigned, Carport, Garage, Private, Uncovered
Garage Spaces 4.0
Carport Spaces 2
Garage Description 4.0
Fence None
Pool None
Community Features Suburban, Valley, Park
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N Yes
View City Lights
Roof Type Shingle
Accessibility None
Total Parking Spaces 8
Private Pool No
Building
Lot Description Lawn, Landscaped, Near Park, Near Public Transit, Rectangular Lot, Sprinklers Timer, Street Level, Value In Land
Faces West
Story 2
Entry Level Two
Foundation Raised, Slab
Sewer Public Sewer
Water Public
Architectural Style Colonial, Mid-Century Modern
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5720022006
Energy Description 853.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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