Pasadena, CA 91103 839 N Summit Avenue

839 N Summit Avenue Pasadena, CA - Image 1839 N Summit Avenue Pasadena, CA - Image 2839 N Summit Avenue Pasadena, CA - Image 3
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Presented By: Jeremy Noel with Wind Water, Inc; 949-423-9800
  • California Regional MLS (CRMLS) - 25 - CA
  • MLS# OC25017098
  • 02/12/2025
  • Request Tour
  • Request Info
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
  • Beds • 18
  • Baths • 13
  • SQFT • 8,902

Home Details

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.
Presented By: Jeremy Noel with Wind Water, Inc; 949-423-9800

Interior Features for 839 N Summit Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Interior AmenitiesBalcony
Laundry FeaturesCommonArea, Inside, LaundryRoom
Total Stories1

Other Rooms

Entry Level1

General for 839 N Summit Avenue

AccessibilityParking
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.6
Carport Y/NNo
CityPasadena
Community FeaturesUrban
CoolingNone
CountyLos Angeles
Current FinancingConventional
Directions210 freeway to N Marengo, left on painter, right on Summit
ElectricElectricityOnProperty
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income182952.0
HOANo
HOA Fee$0.0
HeatingElectric
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet14992.0
Lot Size UnitsSquareFeet
MLS Area645 - Pasadena (NW)
MobileHomeRemainsYNNo
Net Operating Income113400.0
New ConstructionNo
Number Of Units Total14
Number of Units Leased9
Operating Expense67800.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalCondominium
Property SubtypeCondominium
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot54
Tenant PaysAllUtilities, Electricity
Total Actual Rent182952.0
Trash Expense0.0
UtilitiesSewerConnected
Water Sewer Expense0.0
Year Built1989
Year Built SourceAssessor
ZoningPSR1

Exterior for 839 N Summit Avenue

Building Area Total8902.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.3442
Lot Size Area14992.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters14
Number of Separate Gas Meters0
Number of Separate Water Meters0
Parking FeaturesCovered, CommunityStructure
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Hal Schlegel

Broker Associate
Price $4,429,000
MLS#OC25017098
List Date 02/12/2025
Property Type Multi-Family
Phone 714.742.6515
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