842 Summit ave, Pasadena, CA 91103
Active
$999,999
11%
5 Units
4 Beds
4 Baths
2,894 Area(sq.ft.)
Lot: 10,009 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 3 | 1 | 1 | No | $ 1,352 | $ 4,056 | $ 5,700 |
| Unit 2 | 1 | 2 | 2 | No | $ 1,617 | $ 1,617 | $ 2,200 |
| Unit 3 | 1 | 1 | 1 | No | $ 1,282 | $ 1,282 | $ 1,900 |
| 5 | 6 | 6 | $ 6,955 | $ 15,067 | $ 21,200 |
| MLS #: | AR25052991MR |
| Days On Market: | 271 |
| Listing Date: | March 10, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 346 |
| Price per unit: | $ 200,000 |
| Year Built: | 1950 |
Property Details
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.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 46,054 |
| Net Operating Income: | $ 37,046 |
Structure
| Community Features: | Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | PSR1 |
| Land Lease Type: | Fee |
Interior
| Heating: | Central |
| Laundry: | None |
Exterior
| Pool: | No |
Detailed Map
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Income
