842 N Summit Avenue,Pasadena, CA 91103
Pasadena, CA 91103
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.
Details
| MLS# | AR25052991 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 50 |
| Listing Provided By | Coldwell Banker Realty Pasadena 626-584-0050 | Robert Ip |
Features
| SQ Feet | 2,894 |
|---|---|
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 3 |
| Zoning | PSR1 |
| Acreage | 0.23 |
Market Activity 91103
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pasadena |
| Zip Code | 91103 |
| Area | 645 Pasadena (NW) |
| Listing VS Median (in 91103) | |
Price: $999,999 low | high Med: $1,199,900 SqFt: 2,894 low | high Med: 1,470 $ / SqFt: $346 low | high Med: $816 On site: 50 low | high Med: 295.000000 | |