355 S Marengo Avenue 408, Pasadena, California 91101, Pasadena, 91101 - 2 bed, 2 bath
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Pasadena, California 91101
This Spacious Top-Floor Condominium represents a Strong Value Opportunity, listed at $690,000—positioned well below the $717,613 Fair Market Value by 3%. This valuation gap offers $27,613 in Instant Equity. Featuring a Condition Rating of 4, the unit offers a functional layout with a Bonus Room/Office and City Lights views. Ideally located near the Gold Line and Old Town Pasadena, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a prime urban lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 355 S Marengo Avenue 408 Subject | $690,000* List Price | 2 | 2 | 1,222 | $587 | - |
A 330 Cordova Street 268 Sold | $830,000 | 2 | 2 | 1,407 | $590 | 0.2 mi |
B 330 Cordova Street 155 Sold | $861,000 | 2 | 2 | 1,290 | $667 | 0.2 mi |
C 507 S Marengo Avenue 4 Sold | $757,000 | 2 | 3 | 1,170 | $647 | 0.2 mi |
D 128 N Oak Knoll Avenue 202 Sold | $739,000 | 2 | 2 | 1,110 | $666 | 0.9 mi |
E 360 S Euclid Avenue S 219 Sold | $500,000 | 2 | 2 | 1,040 | $481 | 0.3 mi |
F 300 N El Molino Avenue 118 Sold | $645,000 | 2 | 2 | 982 | $657 | 0.9 mi |
G 355 S Marengo Avenue 402 Active Under Contract | $599,000 List Price | 2 | 2 | 973 | $616 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1981 (43 years old), the property is well-maintained but dated. While it features newer laminate flooring and stainless steel appliances, the kitchen cabinetry and bathrooms appear to be over 20 years old (or original), fitting the criteria for a property that is functional but needs cosmetic updates. Central HVAC is a plus, but the overall aesthetic reflects a 15-30 year old renovation cycle.
Situated in the heart of Pasadena, the property offers exceptional walkability to Old Town, the Playhouse District, and the Del Mar Metro Gold Line, making it ideal for urban professionals and students.
As a top-floor end unit with tall ceilings and a dedicated bonus room/office, this residence provides enhanced privacy, natural light, and functional space rarely found in standard condominiums.
The inclusion of in-unit laundry and two side-by-side parking spaces adds significant value and daily convenience in a high-density metropolitan area.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1222, other record lot size in square feet = 43170.
At $730 per month, the association fees are relatively high, which may impact the overall affordability for some buyers or reduce the net yield for potential investors.
The unit's balcony overlooks Arroyo Parkway, a major thoroughfare, which may result in consistent street noise that could impact the tranquility of the outdoor living space.
END UNIT, TOP FLOOR, SINGLE LEVEL with elevator access and a BONUS ROOM/OFFICE. The unit also offers tall ceilings, in-unit laundry, 2 parking spaces, professionally managed HOA, balcony inspection complete. HOA dues include water, trash/sewer, HOA insurance(s) and common area maintenance. Lovely Marengo Gardens complex is ideally located close to Old Town Pasadena, Paseo, the Playhouse district, the Del Mar Metro Gold Line station, South Lake shopping district, Pasadena Arts Center, CalTech, Huntington Hospital, Trader Joe's and Whole Foods. This spacious single level unit sits on the 4th floor. The unit has 2 bedrooms, the primary bedroom with 2 closets, an en-suite 3/4 bathroom. The 2nd bedroom is adjacent to a full bathroom. The bonus room is perfect for an at home office. The unit has laminated floors and a large balcony, overlooking Arroyo Parkway and Houston's Restaurant. The unit offers central heat and air, stacked laundry in the unit, and 2 side-by-side parking spaces #6, 7 on P1. The complex has a pool and spa, and subterranean guest parking. Professionally managed.
No exterior & parking available.
Grades K-8 • 0.7 mi
Grades 6-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,222 | 1,153.5 | 62% |
| Lot Size | 1,222 | 18,730.801 | 29% |
| Price | $690.0K | $869.5K | 26% |
| Price per sq ft | $565 | $709 | 5% |
| Built year | 1981 | 1991 | 38% |
| HOA | $730.0 | $639 | 74% |
| Days on market | 9 | 165 | 3% |
May 28, 2026
$690,000
Initial Listing