Properties
Pasadena, CA 91103 839 N Summit Avenue
$4,429,000
22 more
Presented By: Jeremy Noel with Wind Water, Inc; 949-423-9800
Baths • 1
SQFT • 8,902
Home Details
Introducing an exceptional opportunity to acquire Summit Apartments, a value-add property located in the desirable Villa Parke community of Pasadena.
5 units ready for immediate move in including 3 units fully remodeled and 9 units with long term tenants. This apartment building offers a combination of one- and two-bedroom units, featuring amenities such as new laminate wood flooring and private balconies. The property is situated in a gated community and includes a laundry room, covered parking, and copper plumbing. Built in 1989, this asset presents significant potential for rental income growth. The building includes 9 units with long-term, well-established tenants and 5 vacant units, each 1-bedroom, 1-bath. 3 of these vacant units have been fully renovated, boasting new floors, fresh paint, updated kitchens, and modern bathrooms allowing the new owner the flexibility to choose and put their own tenants in place right away.
Presented By: Jeremy Noel with Wind Water, Inc; 949-423-9800
Interior Features for 839 N Summit Avenue
Other Interior Features
Air Conditioning Y/NNo
Common Walls2+ Common Walls
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Interior AmenitiesBalcony
Laundry FeaturesCommon Area, Inside, Laundry Room
Total Stories1
Other Rooms
Entry Level1
General for 839 N Summit Avenue
AccessibilityParking
Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Cap Rate4.6
CityPasadena
Community FeaturesUrban
CoolingNone
CountyLos Angeles
Current FinancingConventional
Directions210 freeway to N Marengo, left on painter, right on Summit
ElectricElectricity - On Property
Entry Location1
Fuel Expense
Garage Spaces
Garage Y/NNo
Gross Income182952
HOANo
HOA Fee$
HeatingElectric
Insurance Expense
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, Cash to New Loan, Conventional, 1031 Exchange
Lot Size Square Feet14992
Lot Size UnitsSquare Feet
MLS Area645 - Pasadena (NW)
Net Operating Income113400
New ConstructionNo
Number Of Units Total14
Number of Units Leased9
Operating Expense67800
Pool FeaturesNone
PossessionClose Of Escrow
PostalCityPASADENA
Property Attached Y/NYes
Property Sub Type AdditionalCondominium
Property SubtypeCondominium
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Tax Lot54
Tenant PaysAll Utilities, Electricity
Total Actual Rent182952
Trash Expense0
UtilitiesSewer Connected
Water Sewer Expense0
Year Built1989
Year Built SourceAssessor
ZoningPSR1
Exterior for 839 N Summit Avenue
Building Area Total8902
Lot Size Acres0.3442
Lot Size Area14992
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters14
Number of Separate Gas Meters0
Number of Separate Water Meters0
Parking FeaturesCovered, Community Structure
Private PoolNo
Total Parking0
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
