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1872 N Marengo Avenue, Pasadena, California 91103, Pasadena, 91103 - 3 bed, 1 bath

1872 N Marengo Avenue, Pasadena, California 91103 home-pic-0
ACTIVE$750,000
1872 N Marengo Avenue, Pasadena, California 91103
3Beds
1Bath
950Sqft
6,725Lot
Year Built
1923
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$789
HOA
-
Days on market
-
Sold On
-
MLS number
SR25056050
Home ConditionPoor
Features
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 14% below the list price. We found 3 Cons,5 Pros. Rank: price - $750.0K(7th), sqft - 950(10th), beds - 3(50th), baths - 1(17th).

This well-located multi-unit property in Pasadena presents an excellent investment opportunity. This home has three bedrooms, one bathroom, and over 950 square feet. With solid rental income potential and a prime location, it’s perfect for investors looking to capitalize on one of Southern California’s most desirable markets. The property is nestled in a vibrant neighborhood, offering easy access to major cultural landmarks, shopping, dining, and the renowned Rose Bowl. Pasadena is known for its strong real estate market, driven by its proximity to Caltech, top-tier schools, and employers, as well as its dynamic arts and cultural scene. The city’s connectivity to LA via the 210 and 110 freeways, along with its thriving retail and dining options, ensures high demand from renters, making this property a solid choice for long-term appreciation and consistent cash flow. Whether holding, renting, or redeveloping, this property promises substantial upside in a continually growing area.

Nearby schools

3/10
Altadena Elementary School
Public,•K-5•0.8mi
3/10
Charles W. Eliot Middle School
Public,•6-8•0.9mi
3/10
John Muir High School
Public,•9-12•0.8mi
Condition Rating
Poor
The property was built in 1923, making it over 100 years old. The listing description focuses on its investment and redevelopment potential, with no mention of any recent renovations or updates to the interior. Crucially, there are no interior images provided, especially of the kitchen and bathroom, which strongly suggests these areas are in outdated or poor condition and would require substantial repairs and rehabilitation. The single exterior image shows an older, weathered building. Without any evidence of modernization or maintenance, a property of this age is highly likely to require significant work on major systems, kitchen, and bathroom to meet current living standards.
Pros & Cons

Pros

Prime Investment Opportunity: The property is explicitly marketed as an 'excellent investment opportunity' with 'solid rental income potential' and 'long-term appreciation and consistent cash flow' in a 'continually growing area'.
Desirable Pasadena Location: Situated in a 'prime location' within 'one of Southern California’s most desirable markets,' benefiting from a 'vibrant neighborhood' and Pasadena's 'strong real estate market'.
Excellent Connectivity & Amenities: Offers 'easy access to major cultural landmarks, shopping, dining, and the renowned Rose Bowl,' along with 'connectivity to LA via the 210 and 110 freeways' and 'thriving retail and dining options'.
Proximity to Key Institutions: Its location near 'Caltech, top-tier schools, and employers' ensures high demand from renters and contributes to the area's strong market.
Redevelopment & Value-Add Potential: The description highlights 'substantial upside' for 'holding, renting, or redeveloping,' suggesting opportunities for future value enhancement, potentially including ADU development given the lot size.

Cons

Significantly Overpriced: The listing price of $750,000 is 14% above the estimated property value of $643,355.87, indicating it may be significantly overpriced compared to current market estimations.
Limited Bathroom Count: With only one bathroom for three bedrooms, the property has a low bath-to-bed ratio, which can be a significant drawback for families or multiple occupants, potentially limiting its market appeal.
Compact Living Space: At 950 square feet for a three-bedroom home, the living space is relatively small, which might feel cramped and could be a challenge for attracting certain buyer segments or achieving higher rental yields per square foot.

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