839 N Summit Ave - Apartments FOR SALE


Pasadena, CA 91103- Villa Parke
$4,429,000 USD
949-423-9800
839 N Summit Ave, Pasadena, CA for Sale
$4,429,000 USD
Apartments - FOR SALE
1/27
null | 4.6% Cap Rate

839 N Summit Ave
Pasadena, CA 91103
Villa Parke


HIGHLIGHTS

  • 5 vacant units ready for immediate move in at market rate
  • Potential for high value add over the years
  • Each unit has a private balcony and covered parking

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,429,000 USD

PRICE/SF

$498 USD /SF

# OF UNITS

14

PRICE/UNIT

$316,357

CAP RATE

4.6%

% LEASED

65%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

RM32, Pasadena

APN/PARCEL ID

5725-011-017

ASK ABOUT THIS PROPERTY

Jeremy NoelWindwaterMore Info
949-423-9800

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Jeremy NoelWindwaterMore Info
949-423-9800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.