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.
Pending
Listing Provided by:
Robert Ip DRE #01876261 626-394-2527,
Coldwell Banker Realty Pasadena
$999,999
842 N Summit Ave, Pasadena, CA 91103
1beds
1baths
2,894sqft
Est.:
Multi Family
Built in 1950
-- sqft lot
$-- Zestimate®
$346/sqft
$-- HOA
What's special
- 152 days
- on Zillow |
- 990 |
- 47 |
Zillow last checked: 7 hours ago
Listing updated: August 05, 2025 at 02:45pm
Listing Provided by:
Robert Ip DRE #01876261 626-394-2527,
Coldwell Banker Realty Pasadena
Source: CRMLS,MLS#: AR25052991
Originating MLS: California Regional MLS

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
Heating
- Central
Appliances
- Laundry: None
Features
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 2,894
- Total interior livable area: 2,894 sqft
Property
Features
- Levels: One
- Stories: 1
- Entry location: 1
- Pool features: None
Lot
- Size: 10,009 Square Feet
- Features: 2-5 Units/Acre
Details
- Parcel number: 5725012013
- Zoning: PSR1
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1950
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Sidewalks
Location
- Region: Pasadena
Financial & listing details
- Price per square foot: $346/sqft
- Tax assessed value: $766,615
- Annual tax amount: $9,708
- Date on market: 3/10/2025
- Listing terms: Cash,Cash to New Loan,Conventional
- Tenant pays: Cable TV, Electricity, Gas
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