965 N Summit Ave, Pasadena, CA 91103 – 24-471701

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$2,150,000

Est. payment - /mo

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9 BD

6 BA

4,275 SqFt

Active

965 N Summit Ave Pasadena, CA 91103

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/20/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,275 sqft

Price per Sqft $502

MLS Listing ID 24-471701

Style Low Rise

Bedrooms 9

Year Built 1958

Lot Size 0.276 Acres

Acres 0.2757

Property Description

Looking for an investment with exceptional growth potential? This 6-unit apartment building in sought-after Pasadena offers an incredible opportunity to enhance your returns. Located in a prime area with a robust rental market, the property features under-market rents, providing approximately 30% upside potential. With light renovations, you can increase rents and boost property value. Additionally, the property allows for the addition of three ADUstwo detached and one partially attached to an existing structureoffering even more income potential. Pasadena's strong job market ensures a reliable tenant base, while the CAP rate will vary depending on the final property tax assessment. Don't miss this chance to invest in a high-demand location with room for significant value growth.

Location

State CA

County Los Angeles

Area Pasadena Nw

Zoning PSR1

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment Washer

Exterior

Parking Features Parking for Guests, Parking for Guests - Onsite, Parking Space, Carport

Garage Spaces 12.0

Building

Story 1

Architectural Style Low Rise

Level or Stories One

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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