902 S MARENGO Avenue, Pasadena, CA 91106

$2,200,000

Prime 6-Unit Multifamily in Pasadena's Coveted Madison Heights – Walk Score 86, Steps from ArtCenter College of Design campus, Huntington Hospital, Whole Foods, Old Pasadena, and Metro Gold Line. 5% CAP Rate in an A-Class Location – Fantastic Demographics, Nearby many new Townhomes/Condominiums, 4 car garage prime for 2 ADUs,… Read More Many CAPEX Completed. 902 S Marengo Ave, a rare 6-unit multifamily gem in Pasadena's elite Madison Heights neighborhood. This property represents a rare "Value-Add" play in a Class-A location, offering a high 5% CAP rate with significant potential for further appreciation through ADU development and long-term improvements. This garden-style asset sits in an A-location, steps from ArtCenter College of Design, Whole Foods, Shake Shack, and a short walk to Old Pasadena's vibrant scene, the Pasadena Playhouse, and Metro Gold Line. With a Walk Score of 86, Fantastic Demographics of $163k in a-mile radius, and proven appeal to high-caliber tenants (including international ArtCenter students and Caltech professionals), it delivers effortless leasing and superior retention – most units rent to young pros seeking walkable luxury. Built in 1928 (fourplex) and 1956 (duplex) per online permits from city’s website, the 3,192 SF property on a 7,749 SF lot boasts timeless charm: high ceilings, abundant windows, original hardwoods in the front building, plus modern touches like mini-split HVAC, upgraded electrical, and recent exterior paint. Unit mix includes 4 x 1BD/1BA and 2 x large studios. Two units fully renovated with in-unit laundry; others feature targeted upgrades and share seller-owned machines. Overparked with 4 garages (ADU-ready), 2 carports, and open spaces; individually metered utilities streamline ops. The front building has a colonial architecture charm and consists of 4 units (2 x 1bed+1bath and 2 x Studio units). All 4 units have high ceiling, original hardwood floor, plenty of windows, mini-split HVAC, ceiling fans, tiled kitchen and bathroom. 1 unit has been fully upgraded with modern upgrades like newer flooring, new bathroom, new kitchen, and in-unit laundry. The back building was built in 1956 and consists of 2 x 1bed units. The bottom unit has been fully upgraded with new flooring, new kitchen, and in-unit laundry. It has large private backyard. The upstairs unit has a large private deck. Read Less

Listing Snapshot

Days Online

Last Updated

Apr 12, 2026

Property Type

Apartment

Lot Size

0.18 Acres

Year Built

1956

MLS Number

AR26043987

Additional Details

Garage

4 spaces

Heating

WallFurnace

Property Access

Frontage Type: CityStreet, Road Surface: Paved

Appliances & Equipment

Freezer, Disposal, GasOven, GasRange, Refrigerator, WaterHeater, Dryer, Washer

Building

Built in 1956, 2 buildings, Building faces West, 2 stories, Levels: Two, Entry level: 1, Entry location: 1

Community

Suburban, Valley, Park

Cooling

WallWindowUnits

Disclosures

FamilialRelation, PrincipalIsRealEstateLicensed, RentControl

Accessibility Features

None

Expenses

Fuel: $853, Gardener: $1,170, Insurance: $7,143, Licenses: $1,934, Maintenance: $3,029, Operating: $51,289, Trash: $4,667, Water/Sewer: $2,361

Fence

None

Fireplaces

None

Floors

Vinyl, Wood

Foundation

Raised, Slab

Home Owner's Association

Association Fee: $0

Income

Gross Income: $164,880, Gross ScheduledIncome: $164,880, Net Operating Income: $110,293

Interior Features

CeilingFans, PartiallyFurnished, QuartzCounters, RecessedLighting, Storage, Unfurnished

Laundry

CommonArea, WasherHookup, GasDryerHookup

Lot

0.1779 acres, Lawn, Landscaped, NearPark, NearPublicTransit, RectangularLot, SprinklersTimer, StreetLevel, ValueInLand

Parking

2 carport spaces, 2 open parking spaces, 8 total parking spaces, AttachedCarport, Assigned, Carport, Garage, Private, Uncovered

Pool

None

Property

UpdatedRemodeled, CityLights

Roof

Shingle

Sewer

PublicSewer

Taxes

Additional parcels description:, Parcel Number: 5720022006, Annual Amount: $28,294

Tenant Pays

Electricity, Gas

Utilities

CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected, Water Source: Public, Standard, 7 separate electric meters, 7 separate gas meters

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902 S MARENGO Avenue

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