1135-1139 N Summit Ave, Pasadena, CA 91103

Two beautifully restored houses sit side by side on a generous 7,451 sq. ft. corner lot, offering both space and versatility. The 1,200 sq. ft. California Craftsman features two bedrooms, one bathroom, a private yard, a driveway, and a detached garage. Next to it, the 1,020 sq. ft. Modern Farmhouse offers one bedroom, one bathroom, an open floor plan, drought-resistant desert landscaping, and two dedicated parking spots. Together, these properties generate an impressive annual income, equating to a strong cap rate and a standout return in today’s competitive market. Beyond immediate cash flow, this property offers long-term value appreciation, blending timeless architectural appeal with solid financial performance. This property also provides flexibility beyond investment potential. One home can serve as a primary residence while the other generates solid rental income (currently $4,000 per month) to offset living or mortgage expenses. Alternatively, both homes can be used for multi-generational living, offering privacy while keeping family members close. Zoned RM-12 (Multi-Family Residential – Two Units Per Lot), this property allows for the development of a third-unit ADU, further enhancing its investment potential. The garage is wired and has a dedicated electrical circuit for a standalone AC unit, with nearby plumbing and a mainline cleanout. An ADU can be added to create a one-bedroom unit with its own backyard and entrance, with an estimated rental income of $2,000 per month. The California Craftsman house will be delivered vacant.