842 N Summit Avenue, Pasadena, CA 91103
- $850,000
- Sold Price
- $850,000
- List Price
- $999,999
- Closing Date
- Sep 12, 2025
- Status
- CLOSED
- MLS#
- AR25052991
- Year Built
- 1950
- Lot Size
- 10,009
- Acres
- 0.23
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 148
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
Property Description
PRICE REDUCTION OF $125,000. This five-unit multi-family property offers a rare investment opportunity in one of Pasadena’s most desirable neighborhoods. Built in 1950, the property features six bedrooms and six bathrooms across 2,894 square feet of living space on a spacious 10,000- square-foot lot. With an annual gross rental revenue of approximately $80,000 and a net yearly income of around $50,000, this asset delivers strong cash flow. It has ample parking with approximately 9 private parking spaces and AC in each unit, enhancing tenant appeal. Investors may choose to maintain the property as a turnkey income generator or explore potential value-add improvements to further enhance rental income. Ideally located near Old Town Pasadena, the Rose Bowl, and key amenities, this property is perfect for 1031 exchange buyers, investors, or those looking to expand their rental portfolio.
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Additional Information
- Pool Description
- None
- Heat
- Central
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $83,460
- Operating Expense
- 46054
Listing courtesy of Listing Agent: Robert Ip (robert.ip@cbcnrt.com) from Listing Office: Coldwell Banker Realty Pasadena.
Listing sold by Mike Kobeissi from Kobeissi Properties
Mortgage Calculator
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