842 N Summit Ave - Apartments FOR SALE


Pasadena, CA 91103- Villa Parke
$1,125,000 USD
626-394-2527
842 N Summit Ave, Pasadena, CA for Sale
$1,125,000 USD
Apartments - FOR SALE
1/4
null | 3.32% Cap Rate

842 N Summit Ave
Pasadena, CA 91103
Villa Parke


OVERVIEW

PRIME FIVE-UNIT MULTI-FAMILY IN PASADENA 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.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

5

PRICE/UNIT

$225,000

CAP RATE

3.32%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

842-848 N Summit Avenue, Pasadena

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,975 SF

ZONING

PSR1

APN/PARCEL ID

5725-012-013

ASK ABOUT THIS PROPERTY

Robert IpColdwell Banker Commercial RealtyMore Info
626-394-2527

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Robert IpColdwell Banker Commercial RealtyMore Info
626-394-2527

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.