1385 N Marengo Avenue, Pasadena, California 91103, Pasadena, 91103 - 11 bed, 6 bath

1385 N Marengo Avenue, Pasadena, California 91103 home-pic-0
ACTIVE$2,750,000
1385 N Marengo Avenue, Pasadena, California 91103
11Beds
6Baths
4,937Sqft
13,020Lot
Year Built
1980
Close
-
List price
$2.75M
Original List price
$2.45M
Price/Sqft
$557
HOA
-
Days on market
-
Sold On
-
MLS number
CV25195420
Home ConditionExcellent
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.75M(72th), sqft - 4937(95th), beds - 11(98th), baths - 6(97th).

**RARE MULTI-FAMILY PROPERTY FOR SALE- ZONED RM-32 & IS SITUATED ON A LOT SIZE OF 13,020 SQFT ALLOWING FOR FUTURE DEVELOPMENT UP TO 10 UNIT***Attention investors and retirees! Don’t miss this rare opportunity to own a fully upgraded multi-family property in the heart of coveted Pasadena! This investment opportunity currently includes TWO SFR'S & 2 APARTMENTS ALL WITH THEIR WITH OWN PARKING! It’s ideally located near iconic landmarks like the Rose Bowl, Descanso Gardens, Arroyo Canyon trails, and Kidspace Children’s Museum. Upscale shopping, fine dining, and vibrant nightlife on Colorado Blvd are just 1.5 miles away too! The front building houses two spacious 1,036 sq ft apartments. Each features a modern kitchen with a sleek blue island, stone countertops, matching backsplash, and stainless steel appliances. The bathrooms have new white shower and floor tiles, updated vanities, and contemporary fixtures. The Newer flooring and fixtures add to the timeless aesthetics. Unit comes with designated parking spaces. This property also includes two standalone homes behind the apartment structures-A RARE FIND! The middle unit is an SFR, at 1,216 sq ft, offers three bedrooms, one full bathroom, and a private two-car garage. The rear unit (SFR), spanning 1,649 sq ft, includes four bedrooms, two bathrooms, and another private two-car garage. This is the largest and most private unit, boasting an upgraded kitchen and bathrooms showcasing modern tiles, new vanities, and updated fixtures. You’ll love the beautifully designed yard, enclosed with durable vinyl fencing… perfect for kids, pets, or family gatherings. Buyers will appreciate the poured concrete throughout the common areas and additional parking spaces, along with energy-efficient upgrades to ensure low utility costs. Live in any of the units and rent out the rest! Fully rented generates high annual income after reasonable expenses. This is a once-in-a-lifetime investment in a prime location. Don’t blink or you’ll miss it!

Price History

Date
Event
Price
09/04/25
Price Change
$2,750,000+12.2%
09/03/25
Listing
$2,450,000
Condition Rating
Excellent

Despite being built in 1980, the property has undergone a full and extensive renovation, as evidenced by the description and images. The kitchens feature modern blue and white cabinetry, stone countertops, sleek hexagon tile backsplashes, and stainless steel appliances. Bathrooms are updated with new white and herringbone tiles, modern vanities, and contemporary black fixtures. Newer wood-look flooring and recessed lighting are present throughout the units, indicating a recent, high-quality overhaul. The overall condition appears virtually new with no visible deferred maintenance, aligning with the 'excellent' criteria for properties extensively renovated within the last 5 years.
Pros & Cons

Pros

Exceptional Multi-Family Investment: The property offers a rare multi-family setup with two standalone SFRs and two apartments, providing diverse rental income streams and flexibility for owner-occupancy with additional income.
Significant Development Potential: Zoned RM-32 on a substantial 13,020 sqft lot, this property allows for future development up to 10 units, presenting a strong long-term value-add opportunity.
Prime Pasadena Location: Ideally situated in a coveted Pasadena area, close to iconic landmarks, upscale shopping, fine dining, and vibrant nightlife, ensuring high tenant demand and desirability.
Extensively Upgraded Units: All units are fully upgraded with modern kitchens featuring sleek islands, stone countertops, stainless steel appliances, and updated bathrooms, minimizing immediate renovation needs for new owners.
Ample Parking & Energy Efficiency: Each unit benefits from designated parking, including private two-car garages for the SFRs, plus additional common parking, complemented by energy-efficient upgrades for reduced utility costs.

Cons

Recent Significant Price Increase: The list price increased substantially from $2.45M to $2.75M shortly after being on the market, which may indicate an aggressive pricing strategy or impact buyer perception.
Older Core Structure: Built in 1980, while cosmetically upgraded, the underlying infrastructure of the property may be older, potentially leading to unforeseen maintenance or replacement costs for systems not explicitly mentioned as updated.
Complex Property Management: Managing four distinct units (two apartments, two SFRs) on a single lot can be more demanding and complex than typical multi-family properties, potentially requiring professional management.

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