839 Summit ave, Pasadena, CA 91103
Active
$4,429,000
14 Units
17 Beds
13 Baths
8,902 Area(sq.ft.)
Lot: 14,992 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 1,848 | $ 22,176 | $ 2,250 |
| Unit 10 | 1 | 1 | 1 | No | $ 1,518 | $ 18,216 | $ 2,000 |
| Unit 11 | 1 | 1 | 1 | No | $ 1,485 | $ 17,820 | $ 2,000 |
| Unit 12 | 1 | 2 | 1 | No | $ 1,903 | $ 22,836 | $ 2,250 |
| Unit 13 | 1 | 2 | 1 | No | $ 1,848 | $ 22,176 | $ 2,250 |
| Unit 2 | 1 | 2 | 1 | No | $ 1,903 | $ 22,836 | $ 2,250 |
| Unit 3 | 1 | 1 | 1 | No | n/a | n/a | $ 2,000 |
| Unit 4 | 1 | 1 | 1 | No | n/a | n/a | $ 2,000 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,650 | $ 19,800 | $ 2,000 |
| Unit 6 | 1 | 1 | 1 | No | $ 1,606 | $ 19,272 | $ 2,000 |
| Unit 7 | 1 | 1 | 1 | No | n/a | n/a | $ 2,000 |
| Unit 8 | 1 | 1 | 1 | No | $ 1,485 | $ 17,820 | $ 2,000 |
| Unit 9 | 2 | 1 | 1 | No | n/a | n/a | $ 2,000 |
| 14 | 18 | 14 | $ 15,246 | $ 182,952 | $ 29,000 |
| MLS #: | OC25017098MR |
| Days On Market: | 313 |
| Listing Date: | January 27, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 498 |
| Price per unit: | $ 316,357 |
| Year Built: | 1989 |
Property Details
Introducing an exceptional opportunity to acquire Summit Apartments, a value-add property located in the desirable Villa Parke community of Pasadena. 5 units ready for immediate move in including 3 units fully remodeled and 9 units with long term tenants. This apartment building offers a combination of one- and two-bedroom units, featuring amenities such as new laminate wood flooring and private balconies. The property is situated in a gated community and includes a laundry room, covered parking, and copper plumbing. Built in 1989, this asset presents significant potential for rental income growth. The building includes 9 units with long-term, well-established tenants and 5 vacant units, each 1-bedroom, 1-bath. 3 of these vacant units have been fully renovated, boasting new floors, fresh paint, updated kitchens, and modern bathrooms allowing the new owner the flexibility to choose and put their own tenants in place right away.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 181,200 |
| Total Annual Expense: | $ 67,800 |
| Net Operating Income: | $ 113,400 |
| Cap Rate: | 4.6% |
| Actual Gross Rent: | $ 182,952 |
Structure
| Community Features: | Urban |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | PSR1 |
| Land Lease Type: | Fee |
Interior
| Cooking Appliances: | None |
| AC/Cooling: | None |
| Equipment: | Community, Inside, Laundry Area, None, Room |
| Heating: | Electric |
| Fireplace Rooms: | None |
| Laundry: | Community, Inside, Laundry Area, Room |
| Laundry Equipment: | Lease |
Exterior
| Pool: | No |
Detailed Map
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