926 Summit Pasadena, CA 91103
Active
$2,295,000
4 Units
9 Beds
4 Baths
5,811 Area(sq.ft.)
10,014 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 1,695 | $ 1,695 | $ 2,350 |
| Unit 2 | 1 | 2 | 1 | No | $ 2,695 | $ 2,695 | $ 2,950 |
| Unit 3 | 1 | 3 | 1 | No | $ 2,970 | $ 2,970 | $ 3,500 |
| Unit 4 | 1 | 3 | 1 | No | $ 3,495 | $ 3,495 | $ 3,500 |
| 4 | 4 | 9 | 4 | $ 10,855 | $ 10,855 | $ 12,300 |
| MLS #: | PW24249404MR |
| Days On Market: | 1 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 395 |
| Price per unit: | $ 573,750 |
| Year Built: | 1896 |
Property Details
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!Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 126,352 |
| Total Annual Expense: | $ 37,842 |
| Net Operating Income: | $ 88,510 |
| Cap Rate: | 3.86% |
Structure
| Community Features: | Curbs, Sidewalks, Street Lights |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | PSR1 |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned, Offsite |
Interior
| Cooking Appliances: | Oven-Gas |
| AC/Cooling: | Central |
| Equipment: | Dryer, Dryer Included, Inside, Washer, Washer Included |
| Heating: | Central |
| Laundry: | Dryer, Dryer Included, Inside, Washer, Washer Included |
| Laundry Equipment: | Own |
Exterior
| Exterior Construction: | Plaster |
| Pool: | No |
| Roof: | Composition, Shingle |
Detailed Map
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