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Call us! 626.204.3300
642 S. MARENGO AVENUE
PASADENA, CA 91106
7 BUNGALOW UNITS
PRIME MADISON HEIGHTS
PROPERTY SUMMARY
PROPERTY DESCRIPTION
Bridge Investment Group is pleased to present an opportunity to purchase a 7-unit, bungalow-style apartment complex in a prime Pasadena location. 642 S. Marengo is situated within a short distance to numerous shopping, dining, and entertainment amenities along retail laden Old Pasadena.
Dubbed “Cottage Court”, the subject property was added to the National Register of Historic Places on July 11, 1983. Built in 1923, it consists of seven 2-bed/1-bath detached bungalow apartments surrounding a narrow courtyard. The apartment homes were designed in the Colonial Revival Style featuring gable roofs with wide eaves and recessed porches with sup-porting columns. There are a total 15 parking spaces: 5 carports, 9 open spaces, and 1 handicap space.
SUMMARY
Price:
Price/Unit:
Price/SF
Current GRM
Market GRM
Current Cap Rate
Market Cap Rate
Units
Year Built
Building SF
Lot SF
APN
$3,200,000
$457,143
$692.64
15.41
14.04
4.21%
4.78%
7
1923
4,620
18,886
5720-027-021
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MORE INFO
PROPERTY LOCATION
TO SPEAK WITH AN AGENT,
PLEASE CALL:
ACCESS THE FULL OFFERING MEMORANDUM
Kevin Hurley - (626) 204-3456
Kevin Lutz - (626) 204-3475
Tim Chen - (626) 204-3448
Richard Reinoso - (626) 204-3468
Kelly Tran - (626) 204-3366