839 North Summit Avenue

Pasadena, CA 91103

$3,800,000
Last Sold Price
3
Beds
14
Baths
8,902 Sq. Ft.
$427 / Sq. Ft.
8,902
Sq. Ft.
$427
per Sq. Ft.

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 and 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,...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 and 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 4.2%, and a market cap rate of 5.7%.
  1. Listed by Gary Tolfa • DRE #00955403 • Brokerage DRE #01921625 • Triqor Group

Property Details for 839 North Summit Avenue

Parking Spaces Total
23
Private Pool
No
Total Units
14.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8902
Assessor Parcel Number
5725-011-017
Property Attached YN
true

Location

Listing Courtesy of Triqor Group, Gary Tolfa, DRE #00955403

Sold By Triqor Group, Gary Tolfa, DRE #00955403

Add your commute
LISTING UPDATED: 06/02/2022 05:35 AM

Property Details for 839 North Summit Avenue

StatusClosed
MLS #PW22006892
Days on Market22
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
Lot Size0.34 AC / 14,992 SF
CountyLos Angeles County

Location

Listing Courtesy of Triqor Group, Gary Tolfa, DRE #00955403

Sold By Triqor Group, Gary Tolfa, DRE #00955403

Add your commute

Building Information for 839 North Summit Avenue

Stories1Residences-Year Built1989Building Size-Lot Size0.34 AC / 14,992 SF

Payment Calculator

$24,576 per month

30 year fixed, 7.25% Interest

Principal and Interest

$20,738

Property Taxes

$3,838

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 839 North Summit Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $241,553
  • Gross Scheduled Income: $249,024
  • Vacancy Allowance: 7471
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $241,553
  • Net Operating Income: $162,959
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $78,594
  • Operating Expense Percent: 31.60%
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $78,594
Tax / Assessment Info
  • Tax Block: U
  • Tax Tract Number: LH
  • Tax Census Tract: 4620.02
  • CFD/Mello-Roos Fee: $2,868
  • Tax Lot: 54
Community / Development
Community / Development
  • Community Features: Hiking, Street Lights, Suburban, Valley
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 2-5 Units/Acre, Rectangular Lot
  • Number Of Units: 14
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Conventional Septic
  • Sewer/Septic: Septic Installed
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 23
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,383
  • Unit Type Total Rent: $13,832
  • Unit Type Pro Forma: 1725
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,705
  • Unit Type Total Rent: $6,820
  • Unit Type Pro Forma: 2050
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 839 North Summit Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 839 North Summit Avenue

Taxable ValueLand$2,907,000Additions$976,610Total$3,883,610
Tax Record2023$46,058 ($3,838 / month)
Home Facts
Total Finished SqFt8,902 SqFtAbove Grade Finished SqFt8,902 SqFtStories1Lot Size14,992 SqFtStyleMulti-Family Res (5+ Units)Year Built1989ZoningPSR1CountyLOS ANGELESAPN5725-011-017

Schools near 839 North Summit Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Roosevelt Elementary School
PublicK to 5

Octavia E. Butler Magnet School
Public6 to 8

John Muir High School
Public9 to 12

Odyssey Charter School - South
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Triqor Group, Gary Tolfa, DRE #00955403

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.