965 N Summit Ave Pasadena, CA 91103

Active

$2,150,000

6 Units

9 Beds

6 Baths

4,275 Area(sq.ft.)

12,008 Lot Size(sq.ft.)

Type	# of Units	Bedroom	Bath	Furnished	Rent	Actual Rent	Projected Rent
Unit 1	1	1	1	No	$ 1,180	$ 1,180	$ 2,700
Unit 2	2	1	1	No	$ 1,390	$ 1,390	$ 2,700
Unit 3	3	1	1	No	$ 1,285	$ 1,285	$ 2,700
Unit 4	4	2	1	No	$ 1,800	$ 1,800	$ 2,850
Unit 5	5	2	1	No	$ 1,850	$ 1,850	$ 2,850
Unit 6	6	2	1	No	$ 2,055	$ 2,055	$ 2,850
6	21	36	21		$ 36,595	$ 36,595	$ 58,950

MLS #:	24-471701
Days On Market:	8
County:	Los Angeles
Property Type:	Residential Income
Price per ft²:	$ 503
Price per unit:	$ 358,333
Year Built:	1958

Income Details / Structure / Land & Parking / Interior Features / Exterior Features

Property Details

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.

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Income Details

Gross Operating Income:	$ 114,720
Total Annual Expense:	$ 18,660
Net Operating Income:	$ 83,250
Gross Annual Income:	$ 114,720
Gross Rent Multiplier:	18.70
Actual Gross Rent:	$ 114,720