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Nicole Van Parys & Gary Nesen
Engel & Völkers Americas
nicole.vanparys@engelvoelkers.com +1(805) 795-1880Listed by Robert Ip • Coldwell Banker Realty Pasadena
$ 999,999
Est. payment /mo
Active
842 North Summit Avenue Pasadena, CA 91103
2,894 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,894 sqft
Price per Sqft $345
MLS Listing ID AR-25052991
Year Built 1950
Lot Size 10,009 Sqft
Property Sub-Type Apartment
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.
Location
State CA
County Los Angeles
Area 645 - Pasadena Nw
Zoning PSR1
Interior
Heating Central
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944