839 N. Summit Ave., Pasadena, CA 91103 - PW21186255 - iPro Real Estate
iPro Real Estate

iPro Real Estate

839 N. Summit Ave.
Pasadena, CA 91103

Active, Multi-Family/Income Sale

For Sale

$3,900,000 $260.12 per sqft

Free Professional CMA

Listing ID : PW21186255

  • Beds

    3
  • Lot Size

    14,993 Sqft

Description

Presenting the opportunity to acquire Summit Apartments, an excellent value-add apartment building situated in the Villa Parke community of Pasadena. The property offers a mix of one and two-bedroom units with amenities such as new laminate wood flooring, stainless sinks, and patios/balconies. The apartment building is a gated community and features a laundry room, covered parking, and copper plumbing. This property offers an investor the opportunity to acquire a 1989 constructed asset with approximately 20% upside in rents, a current cap rate of 3.8%, and a market cap rate of 5.3%.

Details

Type: Multi-Family/Income Sale 
County: Los Angeles 
Tax ID: 5725011017
Cap Rate: 3% 
Net Operating Income: $148,198 
Days on Market: 399 
Number of Units: 14 
Property Type: Residential Income 
Sub Type: Multi Family 
Zoning: Public Rec 

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Interactive

34.160278 -118.148026 $3,900,000 PW21186255
839 N. Summit Ave., Pasadena, CA 91103
Directions to here from:

Area Information 91103

Population:

28,634 Up .03% since 2010
Average Income:
$115,321
Average Age:
36Years
Gender:
49.32%Male
50.68%Female
Households:
8,92333.82% with children
Average Value:
$1,099,962
Occupancy:
43.32%Owned
56.68%Rented
6.38%Vacant
Education:
17.07%High School
5.78%Associate
16.46%Bachelor
14.5%Graduate
Average Residency:
19Years
Crime Rate:
Average
Annual Rainfall:
20.86Inches
Earthquake Risk:
Very High
Hail Risk:
Very Low
Hurricane Risk:
Very Low
Ozone Risk:
Average
Pollution Risk:
Average
Tornado Risk:
Below Average
Wind Risk:
Very Low

History

Date Transaction Price Mortgage Amt & Lender
Date
Jun 02, 2022
Transaction
Sold - Residential IncomePW22006892
Price
$3,800,000
Mortgage Amt & Lender
- -
Date
Nov 18, 2021
Transaction
Cancelled - Residential IncomePW21186255
Price
$3,900,000
Mortgage Amt & Lender
- -
Date
May 21, 2021
Transaction
Expired - Residential IncomeA11002536
Price
$1,950,000
Mortgage Amt & Lender
- -
Date
May 19, 2021
Transaction
Expired - Residential IncomeA11124191
Price
$1,950,000
Mortgage Amt & Lender
- -
Date
Oct 13, 2016
Transaction
Sold - Residential IncomeTR16047410
Price
$2,550,000
Mortgage Amt & Lender
- -

Mortgage Calculator

Listed by Gary Tolfa with Triqor Group