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839 N Summit Avenue

Pasadena, CA 91103
  • $3,900,000
  • STATUS: Active
  • ON SITE: 63 Days
  • ID#: PW21186255
UPDATED: 15 min ago
$3,900,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1989
County:

School Ratings & Info

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%.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T11:26:05.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/120744484
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839 N Summit Avenue Pasadena, CA 91103

  • Price: $3,900,000
  • Status: Active
  • Updated: 15 min ago
  • ID#: PW21186255
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1989
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property 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%.
Exterior Features

Carport YN Yes Lot Features Rectangular Lot Number Of Separate Electric Meters 0 Parking Features Carport Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 3.8 Common Interest Community Apartment Community Features Foothills Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 228575 Gross Scheduled Income 232740 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Entry Only Listing Terms Conventional Net Operating Income 146810 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 78947 Rent Control YN No Senior Community YN No Sewer Unknown Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Psr1

Listing provided courtesy of Gary Tolfa of Triqor Group


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T11:26:05.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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