826 N Summit Ave 5 Unit Apartment Building $1,125,000 ($225,000/Unit) 5.43% Cap Rate Pasadena, CA 91103

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 826 N Summit Ave in Pasadena, California. The subject property is located in a prime Pasadena location, north of Orange Grove Blvd and east of Fair Oaks Ave.
Located in a prime Pasadena location, the property features a desirable unit mix of three one-bedroom and two two-bedroom units, all within a unique single-story layout comprised of one standalone cottage and two duplex-style structures. The asset is separately metered for gas and electricity and offers on-site parking for tenants. Investors benefit from approximately 45% rental upside potential, presenting a strong value add opportunity. The property offers dominant access to key commercial corridors including Fair Oaks Ave, Orange Grove Blvd, Mountain St, and Los Robles Ave, along with convenient proximity to the Metro A Line. Immediate access to the 210, 134, and 110 freeways enhances connectivity, while nearby Old Town Pasadena and surrounding amenities provide strong tenant appeal.
Altogether, the property presents a compelling investment opportunity driven by significant rental upside, strong underlying fundamentals, solid initial cash flow, and a highly sought-after Pasadena location that supports long-term growth and stability.