926 N Summit Ave - Apartments FOR SALE


Pasadena, CA 91103
$2,295,000 USD
562-269-4844
926 N Summit Ave, Pasadena, CA for Sale
$2,295,000 USD
Apartments - FOR SALE
1/11
null | 3.86% Cap Rate

926 N Summit Ave
Pasadena, CA 91103


HIGHLIGHTS

  • Located in a very low-density neighborhood of Pasadena
  • Average House Value is $1MM Plus (within .3 miles
  • Major Renovations have been Completed
  • New Interiors and quality upgrades to the entire unit
  • Capital Improvements Include New Roofs, New Electrical, New Plumbing
  • Potential to Add Additional Units- Maximum of 4 (1 Bedroom 1 Bath) units or 1,600 RSF

OVERVIEW

Located in the vibrant heart of Pasadena, this property bene?ts from the city’s rich cultural heritage, stunning architecture, and thriving arts scene. The area is known for its diverse community, world-class museums, and commitment to sustainability, making it an attractive destination for residents and visitors alike. This historic building, originally constructed in 1896, has undergone extensive renovations, completed this year. Upgrades include all new plumbing, enhanced electrical systems, freshly painted exteriors, new vinyl fencing, and new roofs throughout. These improvements ensure a modern living experience while preserving the property’s unique charm. The property features four well-designed units: 1 x 1 Bedroom, 1 Bathroom 1 x 2 Bedroom, 1 Bathroom 2 x 3 Bedroom, 1 Bathroom This diverse unit mix cater s to a variety of tenants, from singles and couples to families, enhancing rental demand and potential cash ?ow. Situated on a large 10,014 SF lot, the property offers signi?cant development potential. The buyer has the opportunity to build an additional four 1 Bedroom, 1 Bathroom units, expanding the total square footage by approximately 1,600 SF. This potential for expansion presents an attractive avenue for increased revenue and long-term investment growth. Pasadena's location near Los Angeles, combined with its desirable amenities, supports a robust rental market. The area attracts a steady in?ux of residents seeking quality housing in a vibrant community, positioning this investment for strong occupancy rates and rental income. This property represents a unique opportunity to invest in a newly rehabbed multifamily building in a sought-after area of Pasadena. With its combination of historic charm, modern amenities, and potential for expansion, this asset is poised for signi?cant appreciation and ongoing cash ?ow. Don’t miss your chance to acquire this exceptional property in one of Southern California’s most desirable cities!

FOR SALE DETAILS

PRICE

$2,295,000 USD

PRICE/SF

$545 USD /SF

# OF UNITS

4

PRICE/UNIT

$573,750

CAP RATE

3.86%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1896

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,014 SF

ZONING

-

APN/PARCEL ID

5725-021-017

ASK ABOUT THIS PROPERTY

Camille MonizCentennial AdvisersMore Info
562-269-4844

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Camille MonizCentennial AdvisersMore Info
562-269-4844

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