Seller's Agent in 2025
Robert Ip
Coldwell Banker Realty Pasadena
(626) 584-0050
2 in this area
20 Total Sales
842 N Summit Ave Pasadena, CA 91103
Orange Heights Neighborhood
4
Beds
4
Baths
2,894
Sq Ft
10,009
Sq Ft Lot
Highlights
- Central Heating
- John Muir High School Rated A-
- 1-Story Property
About This Home
As of September 2025PRICE 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.
Last Agent to Sell the Property
Coldwell Banker Realty Pasadena Brokerage Phone: 626-394-2527 License #01876261 Listed on: 03/10/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,708
Year Built
- Built in 1950
Lot Details
- 10,009 Sq Ft Lot
- 1 Common Wall
- Density is 2-5 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 2,894 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Utilities
- Central Heating
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Legal Lot and Block 76 / U
- Tax Tract Number 76
- Assessor Parcel Number 5725012013
- $1,300 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 5 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,327
- Professional Management Expense $4,200
- Operating Expense $46,054
- Gross Income $83,460
- Net Operating Income $37,046
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jan 17, 2013
Sold by
Riboli Anthony Santo and Riboli Shannon Williams
Bought by
A & S Riboli Llc
Purchase Details
Listed on
Jul 12, 2012
Closed on
Sep 26, 2012
Sold by
Andro Paula and The Paula Andro Separate Prope
Bought by
Riboli Anthony Santo and Riboli Shannon Williams
Seller's Agent
Joe Cooper
Keller Williams Pasadena Mrkt
Buyer's Agent
Joe Cooper
Keller Williams Pasadena Mrkt
List Price
$645,000
Sold Price
$635,000
Premium/Discount to List
-$10,000
-1.55%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.57%
Original Mortgage
$444,500
Outstanding Balance
$310,625
Interest Rate
3.63%
Mortgage Type
Commercial
Estimated Equity
$689,997
Purchase Details
Closed on
Aug 8, 2011
Sold by
Mcmullins Tyrone L
Bought by
Andro Paula and The Paula Andro Separate Prope
Purchase Details
Closed on
Jan 11, 2001
Sold by
Washington Mutual Bank Fa
Bought by
Mcmullins Tyrone L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
7.54%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jun 16, 2000
Sold by
Vega Francisco and Vega Rosy
Bought by
Washington Mutual Bank Fa
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | Accommodation | |
| Grant Deed | $635,000 | Fidelity Van Nuys | |
| Grant Deed | $500,000 | Fidelity National Title Co | |
| Grant Deed | $225,000 | North American Title Co | |
| Trustee Deed | $178,894 | Chicago Title Insurance |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $444,500 | Commercial | |
| Previous Owner | $100,000 | Commercial | |
| Previous Owner | $200,000 | Commercial | |
| Previous Owner | $65,000 | Commercial | |
| Previous Owner | $310,000 | Commercial | |
| Previous Owner | $259,000 | Commercial | |
| Previous Owner | $180,000 | Seller Take Back |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | Sold | $850,000 | -15.0% | $294 / Sq Ft |
| 08/05/2025 08/05/25 | Pending | -- | -- | -- |
| 04/07/2025 04/07/25 | Price Changed | $999,999 | -11.1% | $346 / Sq Ft |
| 03/10/2025 03/10/25 | For Sale | $1,125,000 | +77.2% | $389 / Sq Ft |
| 10/03/2012 10/03/12 | Sold | $635,000 | -1.6% | $219 / Sq Ft |
| 08/10/2012 08/10/12 | Pending | -- | -- | -- |
| 07/12/2012 07/12/12 | For Sale | $645,000 | -- | $223 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $9,708 | $781,947 | $535,665 | $246,282 |
| 2024 | $9,708 | $766,615 | $525,162 | $241,453 |
| 2023 | $9,626 | $751,584 | $514,865 | $236,719 |
| 2022 | $9,310 | $736,848 | $504,770 | $232,078 |
| 2021 | $8,939 | $722,401 | $494,873 | $227,528 |
| 2020 | $8,610 | $714,994 | $489,799 | $225,195 |
| 2019 | $8,625 | $700,976 | $480,196 | $220,780 |
| 2018 | $8,628 | $687,232 | $470,781 | $216,451 |
| 2016 | $8,330 | $660,547 | $452,500 | $208,047 |
| 2015 | $8,235 | $650,626 | $445,704 | $204,922 |
| 2014 | $8,097 | $637,882 | $436,974 | $200,908 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Ip
-
Mike Kobeissi
Buyer's Agent in 2025
Mike Kobeissi
Kobeissi Properties
(818) 725-1041
2 in this area
68 Total Sales
-
J
Seller's Agent in 2012
Joe Cooper
Keller Williams Pasadena Mrkt
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: AR25052991
APN: 5725-012-013
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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
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