Renovated MultiFamily Property Listed at 850 North Marengo Avenue
FOR SALE
$2,995,000
850 North Marengo Avenue, Pasadena, CA 91103
4,809 SF
Square Feet
$623
PPSF
7
Units
400.0K
PPU
4.13%
CAP
Property Description
Units
7 — PPU: 400.0K
NOI
$123,694
Cap Rate
4.13%
• 7 total units built in 1958
• Good unit mix of one, two and studio units
• Desirable Pasadena Location
• All units were extensively renovated
• Soft-Story retrofit completed
• Separately metered for gas and electricity
• Eight Parking Spaces
• On-site laundry
• Close to Downtown Pasadena
• Short trip from Marshall High School
• Close proximity to the Rose Bowl
• Easy access to the 210 and 134 Freeways
Property Details
Asset Type
MultiFamily
Year Built
1958
Zoning
PSR1
Lot Size
9,307 SF
Submarket
Pasadena
ZIP
91103
Renovated
2022
Listing Type
sale
Offering Memorandum
30 years
10 years
Net Operating Income (NOI)
$196,241
Debt Service Coverage Ratio (DSCR)
1.15x
Cap Rate
6.55%
Cash Flow (Annual)
$25,867
Cash-on-Cash Return
3.45%
Monthly Debt Service
$14,198
Annual Debt Service
$170,374
View on Map
Address
850 North Marengo Avenue
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Pasadena MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
