779 N Marengo Avenue, Pasadena, California 91103, Pasadena, 91103 - 5 bed, 4 bath
ACTIVE$1,825,000
779 N Marengo Avenue, Pasadena, California 91103
5Beds
4Baths
3,426Sqft
14,928Lot
Year Built
1920
Close
-
List price
$1.82M
Original List price
$24.8M
Price/Sqft
$533
HOA
-
Days on market
-
Sold On
-
MLS number
WS25031244
Home ConditionPoor
Features
Patio
View
About this home
Possibly Over-Priced:The estimated price is 3% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.82M(55th), sqft - 3426(90th), beds - 5(86th), baths - 4(76th).
PRIVE IMPROVEMENT!!! Calling all Developers, Investors, this Charming Single Family Home has massive potential. The property is currently a 5 bedroom, 4 bath 3,426 square feet two story home with huge 14,928 square feet lot located in RM-32 Zone. This is not a historic building and verified. This can be used as a single family home with adu play or single family for rent with redevelopment plans. This property can develop up to 20+ units. Initial renderings have been provided.
Price History
Date
Event
Price
11/06/25
Price Change
$1,825,000-1.4%
10/15/25
Price Change
$1,850,000-2.6%
10/03/25
Price Change
$1,900,000-9.3%
08/23/25
Price Change
$2,095,000
02/11/25
Listing
$24,800,000
Condition Rating
Poor
Built in 1920, this property is over a century old and shows significant signs of age and deferred maintenance. The kitchen features very outdated light wood cabinets, black laminate countertops, and mismatched, older appliances (white electric range, black dishwasher/microwave). There are no images of bathrooms, but given the kitchen's condition, they are likely equally outdated. Visible portable heaters and window AC units suggest a lack of central HVAC, which is a major deficiency. Hardwood floors are present throughout but show considerable wear and tear. The property requires substantial repairs and rehabilitation to meet modern living standards, aligning with a 'poor' condition score, even though it is technically livable.
Pros & Cons
Pros
Exceptional Development Potential: The property boasts RM-32 zoning on a substantial 14,928 sqft lot, verified as non-historic, allowing for the development of 20+ multi-family units, presenting a significant opportunity for developers and investors.
Significant Price Adjustment: The listing price has seen a substantial reduction from its initial $2.48M to the current $1.825M, indicating a motivated seller and potentially a favorable acquisition cost for a high-potential asset.
Strategic Pasadena Location: Situated in Pasadena, a highly desirable and established market, the property benefits from strong rental demand, excellent amenities, and potential for long-term property value appreciation.
Versatile Investment Strategies: The property offers flexibility for various investment approaches, including immediate multi-unit redevelopment, holding as a single-family rental with ADU potential, or a large single-family estate.
Existing Sizable Structure: The current 5-bedroom, 4-bathroom, 3,426 sqft home provides immediate rental income potential or a substantial base for renovation, offering options during the planning or holding phase.
Cons
High Capital Investment Required: Realizing the full multi-unit development potential necessitates substantial capital outlay for demolition, permits, and new construction, making it a significant financial undertaking beyond the purchase price.
Age and Condition of Existing Structure: Built in 1920, the existing home is over a century old and likely requires extensive renovation or demolition, adding to the overall project cost and complexity if not fully redeveloped.
Extended Development Timeline & Risk: Developing a project of 20+ units is inherently lengthy and complex, involving numerous regulatory approvals, potential delays, and market risks that could impact the project's timeline and profitability.