4
See all 4 photos
$999,999
Est. payment /mo
10,010 Sqft Lot
Price Dropped by $125K
842 N Summit AVE Pasadena, CA 91103
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25052991
HOA Y/N No
Year Built 1950
Lot Size 10,010 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.
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
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5725012013
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Robert Ip • Coldwell Banker Realty Pasadena • 626-394-2527