965 Summit ave, Pasadena, CA 91103
Active
$1,699,000
6 Units
9 Beds
6 Baths
4,275 Area(sq.ft.)
Lot: 12,008 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 1,850 | $ 1,850 | $ 2,850 |
| Unit 2 | 1 | 2 | 1 | No | $ 1,900 | $ 1,900 | $ 2,850 |
| Unit 3 | 1 | 2 | 1 | No | $ 2,115 | $ 2,115 | $ 2,850 |
| Unit 4 | 1 | 1 | 1 | No | $ 1,215 | $ 1,215 | $ 2,200 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,430 | $ 1,430 | $ 2,200 |
| Unit 6 | 1 | 1 | 1 | No | $ 1,320 | $ 1,430 | $ 2,200 |
| 6 | 9 | 6 | $ 9,830 | $ 9,940 | $ 15,150 |
| MLS #: | 25540149 |
| Days On Market: | 250 |
| Listing Date: | May 30, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 397 |
| Price per unit: | $ 283,167 |
| Year Built: | 1958 |
Property Details
965 N Summit is 6 Units for sale in Prime Pasadena. There are 2 Buildings consisting of 3 units per building. Both of those buildings sit on a very large 12,008 SF lot. Excellent value-add multifamily opportunity that features (6) total units: (3) 2 bed / 1 bath, (3) 1 bed / 1 bath and there is room to build 3+ ADUs (buyer to verify). Rents are currently on the lower side so there's about 20 - 30% upside to be had. Located in a strong rental area near transit, amenities, and the 210 freeway. A great option for investors seeking income, development potential, or a 1031 exchange opportunity. Projected GRM after Value-Add is a very low 9...Add units. Raise rents. Build equity.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 117,960 |
| Total Annual Expense: | $ 18,672 |
| Net Operating Income: | $ 99,288 |
| Gross Annual Income: | $ 117,960 |
| Gross Rent Multiplier: | 14.40 |
Structure
| Type of Units: | Apartment |
| Buildings: | 2 |
| Levels: | One |
| Style: | California Bungalow |
Land & Parking
| Zoning: | PSR1 |
| Parking Garage: | Carport |
| Total Parking: | 12 |
Interior
| AC/Cooling: | Window Unit(s) |
| Equipment: | Range/Oven, Refrigerator |
| Heating: | Other |
Exterior
Detailed Map
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Income
