Pasadena CA Multi Family for Sale
$2,295,000
926 Summit Pasadena, CA 91103
- Type:
- Fourplex
- Sq.Ft.:
- 5,811
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.23 Acres
- Year built:
- 1896
- Baths:
- MLS#:
- PW24249404
ADDITIONAL INFORMATION
Located in the vibrant heart of Pasadena, this property bene?ts from the city’s rich cultural heritage, stunning architecture, and thriving arts scene. The area is known for its diverse community, world-class museums, and commitment to sustainability, making it an attractive destination for residents and visitors alike. This historic building, originally constructed in 1896, has undergone extensive renovations, completed this year. Upgrades include all new plumbing, enhanced electrical systems, freshly painted exteriors, new vinyl fencing, and new roofs throughout. These improvements ensure a modern living experience while preserving the property’s unique charm. The property features four well-designed units: 1 x 1 Bedroom, 1 Bathroom 1 x 2 Bedroom, 1 Bathroom 2 x 3 Bedroom, 1 Bathroom This diverse unit mix cater s to a variety of tenants, from singles and couples to families, enhancing rental demand and potential cash ?ow. Situated on a large 10,014 SF lot, the property offers signi?cant development potential. The buyer has the opportunity to build an additional four 1 Bedroom, 1 Bathroom units, expanding the total square footage by approximately 1,600 SF. This potential for expansion presents an attractive avenue for increased revenue and long-term investment growth. Pasadena's location near Los Angeles, combined with its desirable amenities, supports a robust rental market. The area attracts a steady in?ux of residents seeking quality housing in a vibrant community, positioning this investment for strong occupancy rates and rental income. This property represents a unique opportunity to invest in a newly rehabbed multifamily building in a sought-after area of Pasadena. With its combination of historic charm, modern amenities, and potential for expansion, this asset is poised for signi?cant appreciation and ongoing cash ?ow. Don’t miss your chance to acquire this exceptional property in one of Southern California’s most desirable cities!
$2,150,000
Summit Ave Pasadena, CA 91103
- Type:
- Other
- Sq.Ft.:
- 4,275
- Status:
- Active
- Beds:
- 9
- Lot size:
- 0.28 Acres
- Year built:
- 1958
- Baths:
- 6.00
- MLS#:
- 24-471701
ADDITIONAL INFORMATION
Looking for an investment with exceptional growth potential? This 6-unit apartment building in sought-after Pasadena offers an incredible opportunity to enhance your returns. Located in a prime area with a robust rental market, the property features under-market rents, providing approximately 30% upside potential. With light renovations, you can increase rents and boost property value. Additionally, the property allows for the addition of three ADUstwo detached and one partially attached to an existing structureoffering even more income potential. Pasadena's strong job market ensures a reliable tenant base, while the CAP rate will vary depending on the final property tax assessment. Don't miss this chance to invest in a high-demand location with room for significant value growth.
$2,150,000
965 Summit Avenue Pasadena, CA 91103
- Type:
- Cluster
- Sq.Ft.:
- 4,275
- Status:
- Active
- Beds:
- 9
- Lot size:
- 0.28 Acres
- Year built:
- 1958
- Baths:
- 6.00
- MLS#:
- 24471701
ADDITIONAL INFORMATION
Looking for an investment with exceptional growth potential? This 6-unit apartment building in sought-after Pasadena offers an incredible opportunity to enhance your returns. Located in a prime area with a robust rental market, the property features under-market rents, providing approximately 30% upside potential. With light renovations, you can increase rents and boost property value. Additionally, the property allows for the addition of three ADUstwo detached and one partially attached to an existing structureoffering even more income potential. Pasadena's strong job market ensures a reliable tenant base, while the CAP rate will vary depending on the final property tax assessment. Don't miss this chance to invest in a high-demand location with room for significant value growth.
$1,230,000
1860 Summit Avenue Pasadena, CA 91103
- Type:
- Duplex
- Sq.Ft.:
- 1,655
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.07 Acres
- Year built:
- 1915
- Baths:
- MLS#:
- TR24246929
ADDITIONAL INFORMATION
Cash positive legal duplex with a non-conforming garage conversion studio. Stylish and turnkey. The property is zoned Commercial Residential so you can also run a business there. The property is on a corner lot and thus has two separate addresses. The other address is 150 E. Tremont St. All tenants are strong renters that pay on time and take great care of the premises. The larger unit is 2 bedroom with a finished attic space that is huge and can function as an additional room or office space.
$1,550,000
1315 Marengo Avenue Pasadena, CA 91103
- Type:
- Apartment
- Sq.Ft.:
- 3,608
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 1892
- Baths:
- MLS#:
- AR24246708
ADDITIONAL INFORMATION
This 6-unit Value-add apartment offering provides a whopping ±6.77% CAP Rate and ±7.95% Proforma CAP Rate translates to over 9% cash-on-cash return (buyer to verify), which is currently one of the highest CAP Rate for apartments in Pasadena submarket. The property is a two-story apartment with charming colonial revival architecture. It was built in 1892; it has a large building size of ±3,608 SF and is situated on a ±8,410 SF lot. It offers a desirable unit mix of two (2) x 2bed+1bath, and Four (4) x Studio units. Five (5) units have been upgraded with brand new flooring throughout, LED lighting, updated bathroom, 4 units have brand new kitchen with quartz countertops + new kitchen cabinets + stainless steel appliances, and much more. Most of the units are very charming, 2 units have high ceilings. The remaining non-upgraded 1 unit provide ±15% rental upside, which upon turnover will take the current CAP Rate to a whopping ±7.95% proforma CAP Rate (buyer to verify). There is a garage space that is being rented out for an additional income. One of the unit is vacant and can be delivered vacant. The property is a “smart building” with lighting and sprinkler watering controlled via smartphone, and it is secured via a security camera monitoring system. The property has new exterior paint and new common area paint as well. It has a total of 7 parking spaces at the back (5 garages + 2 open space). No parking soft story is required. New owners can take advantage of the garage by renting it out or even converting it into ADU. The property has a common laundry area – the seller owns the machines. Each unit is separately metered for electricity and gas. The property is located on Marengo Ave, crossing Washington Blvd. It is located several minutes east of 210 FWY and minutes away from Old Town Pasadena. It is within minutes from Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has a good demographic of $102,038 average household income within a 1-mile radius. The property has superb access to FWY 210 and FWY 134 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connects to Downtown Los Angeles.
$5,120,000
221 Raymond Avenue Pasadena, CA 91103
- Type:
- Apartment
- Sq.Ft.:
- 8,568
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.17 Acres
- Year built:
- 1898
- Baths:
- MLS#:
- IV24236416
ADDITIONAL INFORMATION
HIGHLIGHTS: The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year / Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses. / Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award / Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom. / Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions / Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place. ) (MILLS ACT PROTECTED PROPERTY) The Historic Fannie Bonham Row House at 221 N Raymond Ave, Pasadena, CA, is a meticulously restored property and the only remaining example of rowhouse construction in the city! The property features a desirable unit mix, including six (6) single-story, 1-bedroom, 1-bathroom units, and three (3) townhouse-style, 2-bedroom, 2.5-bathroom units. Each townhouse unit also includes a bonus room in the master bedroom, offering flexible space ideal for a nursery, home office, or additional bedroom. This historic building underwent an extensive restoration to preserve its original architectural details while modernizing essential key building systems. Jackson Milling & Lumber, Inc. contributed significantly to this effort, utilizing custom-milled Douglas fir to replace wood siding & replicate intricate crown moldings true to the materials used in the original construction. Additionally, American Window Restoration repaired or replaced all windows to maintain historical accuracy. This dedication to preserving the building's heritage earned it a Historic Preservation Award from the City of Pasadena and recognition from then-Senator Anthony Portantino.
- Type:
- Duplex
- Sq.Ft.:
- 2,274
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.25 Acres
- Year built:
- 1897
- Baths:
- MLS#:
- PW24220462
ADDITIONAL INFORMATION
This multifamily Pasadena property carries the charm and style of a bygone era. Located on a lot of over 10,800 sqft, there are 3 units plus a detached garage with storage space. The main house was originally built in 1897 and has been split into two units – one upstairs and one downstairs – 2 bedroom, 1 bath for each. Additionally, there is a third detached occupied unit. With the oversized lot, there is plenty of open space in the front yard, backyard and side yard. And for parking, there is a long driveway shared by the renters. The long-time renters are month-to-month. All units offer washer/dryer hookups. There are 2 electric meters and 3 gas meters. Bring your toolbox and imagination for your own piece of the Pasadena dream.
$4,998,000
840 Fair Oaks Avenue Pasadena, CA 91103
- Type:
- Cluster
- Sq.Ft.:
- 9,520
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.34 Acres
- Year built:
- 2016
- Baths:
- MLS#:
- P1-19680
- Subdivision:
- Not Applicable
ADDITIONAL INFORMATION
Located on North Fair Oaks Avenue in Pasadena, California, the Fair Oaks Revival is a great mix of modern and classic stylings due to the unique offering of two completely renovated and relocated historical homes along with five brand new townhomes located at the rear portion of the property. With a great unit mix of (3) - 3 bed / 2.5 bath townhomes, (2) - 1 bed / 1.5 bath townhomes, (2) - 2 bed / 2 bath, (2) - 1 bed / 1 bath, and (1) - commercial office space, this turn-key property offers a total building square footage of +/-9,520 on a +/-14,636 square foot lot. The units offer brand new finishes with a mixture of hardwood flooring, stainless steel appliances, and washer/dryer hook-ups. Each unit is tastefully remodeled and offers central heat and air.
$3,265,000
425 Raymond Avenue Pasadena, CA 91103
- Type:
- Apartment
- Sq.Ft.:
- 5,001
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.23 Acres
- Year built:
- 1947
- Baths:
- MLS#:
- AR24210715
ADDITIONAL INFORMATION
RAYMOND SEVEN, a 7-unit Turnkey Garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With full renovation recently completed and full occupancy with market rents, this offering provides a highly cash flowing building without doing any work. Offered at a very attractive 5.32% CAP Rate and low 13.88x GRM, this offering provides an excellent Cash-on-cash return (over 5%) on a full Turnkey building where owner does not have to worry about renovating units, dealing with low-rent tenants, or any deferred maintenance. Current owner has spent enormous time and capital in fully upgrading the building including replacing the mechanical, electrical, plumbing, and roof. They have upgraded the building with new railings, stucco changes, stairway & walkway repair, exterior painting, landscaping, new windows, structural and foundation support, and all units upgraded. The building is fully occupied with market rate tenants and providing excellent rental income close to market. The property is in a quiet and mature residential area surrounded by SFR houses across the street and duplex/fourplex on each side. It is only 2 blocks north of the Old Town Pasadena and minutes away from most of the major attractions in the City of Pasadena including Rose Bowl area. FWY 210 and FWY 134 is less than a minute away from the property. The property was built in 1947, has ±5,001 SF building size and is situated on a ±9,902 SF lot size. It has a superb curb appeal with a large lawn and parking area in the front with the main building sits in the back part of the lot – providing extra sound barrier and privacy to tenants. It offers an attractive unit mix of four (4) x 2bed+1bath, 1 x Penthouse 1bed+1bath, and two (2) x 1bed+1bath units. The Penthouse unit occupies the entire 3rd floor with excellent view of Pasadena area. Each unit has been fully upgraded from top to bottom with brand-new everything (flooring, lighting, kitchen, and bathroom). It has in-unit laundry machines and stainless-steel kitchen appliances. Two of the 2nd floor units have private balcony, and the Penthouse has private balcony with views. Several units have large bedrooms and/or kitchens, and some units have had some upgrades which include updated vinyl wood plank/flooring. All units have smooth ceilings. The property is separately metered for electricity and serviced by a master water heater. Parking is provided by an open space parking in front.
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 8
- Lot size:
- 0.26 Acres
- Year built:
- 1961
- Baths:
- MLS#:
- CRP1-19141
View additional info
Courtesy: The Agency
ADDITIONAL INFORMATION
This 5-unit, single-story apartment complex in Pasadena features two-bedroom, one-bathroom units, offering a total interior space of 4,600 square feet on an 11,116 square foot lot. Fully occupied on month-to-month leases, the property has special PSR1 zoning, allowing for institutional use. Current rents yield a 4% cap rate, with potential for a 6.7% market cap rate. The front unit includes a two-car garage, while the remaining units have attached covered carports. Each unit is equipped with separate electricity and gas meters. The property also benefits from its prime location near the Rose Bowl, Old Town Pasadena, freeways, public transportation, and schools. Drive-by only--please do not disturb tenants or enter the property.
$2,659,000
481 Lincoln Avenue Pasadena, CA 91103
- Type:
- Apartment
- Sq.Ft.:
- 5,061
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.28 Acres
- Year built:
- 1903
- Baths:
- MLS#:
- TR24135943
ADDITIONAL INFORMATION
481 Lincoln Ave., Pasadena is a turnkey and upgraded 7 units apartment complex (Unit mix: 4x 1 Bed+1 Bath, 1x 2 Bed+1 Bath, 2x 2 Bed+2 Baths). With CAP Rate Close to 5% in a Class-A Location, and 100% OCCUPIED. ASSUMABLE EXISTING LOAN AT 3.83% UNTIL FEBRUARY, 2029!!!! 2 story building was built in 1903 and single story building was built in 1952. BOTH BUILDINGS EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2022. 5 out of 7 units were also upgraded with New Paint, Kitchen, Bathroom, Flooring. Updated Roof, New Electrical Main Panels and Subpanels. New Plumbing. New Windows. New Driveway Entrance. Each unit is individually metered for electricity and gas. Parking is provided by 5 open spaces between 2 buildings. The property is situated on a large corner lot of approximately 12,011 SF lot size. Great value-add opportunity for a short or long-term investment. The property is in a highly desirable centrally located neighborhood and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
$4,750,000
411 N Summit Avenue Pasadena, CA 91103
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.39 Acres
- Year built:
- 1963
- Baths:
- MLS#:
- CRPF23180675
View additional info
Courtesy: Keller Williams Realty
ADDITIONAL INFORMATION
411 North Summit Avenue is a charming 18-unit garden-style apartment in Pasadena that has been well-maintained by the same owner for nearly 20 years. It has a stable operating history and is strategically located on the first block north of the 210 Freeway. It is west of North Marengo Avenue and east of North Raymond Avenue. It boasts an 86 “Walk Score†and a 98 “Bike Scoreâ€. The two-story property was built in 1963 on a slab foundation and boasts 11,521 rentable square feet. It is situated on a 17,002 square foot lot. It features a strong unit mix of four studios, ten one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. The property offers on-site laundry (new machines were purchased last year) , and 19 parking spaces. There are 11 carport spaces, seven tuck-under spaces, and one open space. Seismic retrofit for tuck-under spaces has not been completed by the Seller. Within the past 10 years, all the plumbing has been replaced with copper, the gas line was replaced, subpanels and main breakers were replaced, and all the shower tubs were replaced. Within the past five years, the roof was treated with a 50 year silicone recoating. Select units have been tastefully renovated with vinyl flooring, new cabinets, granite countertops, ceiling fans, recessed l
- Type:
- Cluster
- Sq.Ft.:
- 3,395
- Status:
- Active
- Beds:
- 6
- Lot size:
- 0.25 Acres
- Year built:
- 1905
- Baths:
- 4.00
- MLS#:
- 23305107
ADDITIONAL INFORMATION
Residential income in the highly desirable area of Pasadena. 2 separate structures. Property will be leased back by the owner for $10,000.00 per month Triple net. Tenant will execute a new five year lease with annual rent adjustments. Owner operates a program for teenagers and their families. The program is after school only and not overnight. Owner operates six additional facilities and is wanting to expand. Name of the program is Insight treatment.
$1,700,000
1798 Summit Avenue Pasadena, CA 91103
- Type:
- Duplex
- Sq.Ft.:
- 2,286
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.34 Acres
- Year built:
- 1963
- Baths:
- MLS#:
- SR23137273
ADDITIONAL INFORMATION
Welcome to 1798 N Summit Ave in Pasadena, CA! This property is a duplex, offering a unique opportunity for homeowners, investors, or anyone that is looking to add to their portfolio. With a spacious living area of 2286 square feet, this property provides comfortable living spaces for its residents. Situated on a generous 15,000 square foot lot, this duplex offers ample outdoor space, providing opportunities for potential expansions and developments. The large lot size offers additional privacy and room to customize the property to suit your needs. Each unit in this duplex features its own separate entrance, ensuring privacy and convenience for both residents. The well-designed floor plan includes one 3 bedroom/ 1 bath and one 4 bedroom/ 2 bath unit. The property is conveniently located near the 210, with easy access to nearby amenities such as shopping centers, restaurants, and parks. Its proximity to major transportation routes allows for a quick commute to downtown Pasadena and other neighboring areas. With its desirable duplex configuration, spacious living area, and a generous lot size, 1798 N Summit Ave presents a fantastic opportunity to own in a desirable area. Don't miss out on the chance to make this property your own!
Based on information from Combined LA/Westside Multiple Listing Service, Inc. as of {{last updated}}. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Pasadena Real Estate
The median home value in Pasadena, CA is $1,023,900. This is higher than the county median home value of $796,100. The national median home value is $338,100. The average price of homes sold in Pasadena, CA is $1,023,900. Approximately 38.05% of Pasadena homes are owned, compared to 51.87% rented, while 10.08% are vacant. Pasadena real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Pasadena real estate agent to arrange a tour today!
Pasadena, California 91103 has a population of 138,771. Pasadena 91103 is less family-centric than the surrounding county with 29.06% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Pasadena, California 91103 is $89,661. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Pasadena 91103 is 39.1 years.
Pasadena Weather
The average high temperature in July is 87.5 degrees, with an average low temperature in January of 45.1 degrees. The average rainfall is approximately 21.4 inches per year, with 0 inches of snow per year.