642 S Marengo
642 S Marengo
642 S Marengo
642 S Marengo
642 S Marengo
642 S

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

642 S
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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

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805