704 S Marengo Ave, Pasadena, CA 91106

Studio, 4,266 sqft
Off Market
Zestimate®: $1,317,395
Rent Zestimate®: $2,323/mo
 
 
 
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A Zestimate® home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

A Rent Zestimate® is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property.

 
DRIVE BY ONLY! We are pleased to offer this rare offering for a development opportunity on the ultra desirable S. Marengo Avenue. Title shows 5 units, but it is currently being operated as 4 rental units. Two units in the front building were converted into one unit. The property was slated for development of eight (8) townhome condominiums with the Tentative Tract Map approved by the City of Pasadena. The approval expired earlier this year, but a new buyer can go through the approval process again and develop the 8 condos. The condos range from 1,226 to 1,844 SF, 2 & 3 bedroom units. The front building has a 2+2 unit upstairs and 3+1 unit downstairs and is master metered for gas & electricity. The back building has two 1+1 units and is separately metered for gas & electricity. There is ample open parking on the large lot between the two buildings. OUT OF COURTESY & RESPECT PLEASE DO NOT DISTURB OR TALK TO TENANTS. THEY DO NOT KNOW IT IS FOR SALE. INSPECTION UPON ACCEPTED OFFER ONLY  MoreLess
Facts
  • Lot: 0.29 acres
  • Single Family
  • Built in 1947
  • Cooling: Other
    Features
    • Parking: 7 spaces
        Appliances Included
        • Garbage disposal
        Construction
        • Roof type: Other
        • # Stories: 0.0
        • Structure type: Other
        • Unit count: 5
        Other
        • Floor size: 4,266 sqft
        • Zillow Home ID: 2111073094
        Home Values
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        $1,317,395
        +$42,296 Last 30 daysd
        $1.00M
        $1.42M
        Zestimate range
        Rent Zestimate What's this?
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        A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

        The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
        $2,323/mo
        +$150 Last 30 daysd
        $1.4K
        $4.2K
        Zestimate range

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        Neighborhood for 704 S Marengo Avenue

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        Zillow predicts South home values will rise 4.7% next year, compared to a 6.2% increase for Pasadena as a whole. Among South homes, this home is valued 147.9% more than the midpoint (median) home, but is valued 30.8% less per square foot.

        Foreclosures will be a factor impacting home values in the next several years. In South, the number of foreclosures waiting to be sold is 8.2% less than in Pasadena, and 57.1% lower than the national average. This lower local number could help South home values rise more quickly than other regions in Pasadena.

        Learn more about forecast calculations or South home values.
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