965 North Summit Avenue

Pasadena, CA 91103

$2,150,000
Price
9
Beds
6
Baths
4,275 Sq. Ft.
$503 / Sq. Ft.
4,275
Sq. Ft.
$503
per Sq. Ft.

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...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.

Listing Agent

  1. Sam Shakerchi

    Sam Shakerchi

    Listing Agent

    Compass

    DRE #01868195

    sam.shakerchi@compass.com

    P: (310)-525-0872

Property Details for 965 North Summit Avenue

Zoning
PSR1
Style
Low Rise
Parcel Number
5728003033
Total Units
6.0
Living Area
4275
Source Living Area
Vendor Enhanced
Area
Pasadena NW (645)
Vacancy Rate
0
LISTING UPDATED: 12/12/2024 01:21 AM

Property Details for 965 North Summit Avenue

StatusActive
MLS #24-471701
Days on Market6
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.28 AC / 12,008 SF
CountyLos Angeles County

Building Information for 965 North Summit Avenue

Stories1Residences-Year Built1958Building Size-Lot Size0.28 AC / 12,008 SF

Property Information for 965 North Summit Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: 6 units
Contract Info
Contract Info
  • Disclosures: Rent Control, Property Report
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $114,720
  • Net Operating Income: $83,250.00
  • Gross Income: $114,720
  • Gross Rent Multiplier: $18.70
  • Actual Annual Gross Rent: $114,720.00
  • Total Annual Expense: 18660
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2757
  • Lot Size Square Feet: 12008
Parking Details
Parking Details
  • Parking Garage: Parking for Guests, Parking for Guests - Onsite, Parking Space, Carport
  • Total Parking: 12
  • Parking Features: Guest, Parking Space, Carport
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Washer
  • Laundry: Washer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 12-12-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,180.00
  • Unit Actual Rent: $1,180.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,390.00
  • Unit Actual Rent: $1,390.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,285.00
  • Unit Actual Rent: $1,285.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,800.00
  • Unit Actual Rent: $1,800.00
  • Unit Projected Rent: $2,850.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,850.00
  • Unit Actual Rent: $1,850.00
  • Unit Projected Rent: $2,850.00
  • Like Units: 5
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,055.00
  • Unit Actual Rent: $2,055.00
  • Unit Projected Rent: $2,850.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $234,279.00
  • Assessed Improvement Percent: 50.77
  • Assessed Land Value: $227,178.00
  • Assessed Land Percent: 49.23
  • Assessed Total Value: $461,457.00

Property History for 965 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 965 North Summit Avenue

Taxable ValueLand$231,721Additions$238,964Total$470,685
Tax Record2024$6,735 ($561 / month)
Home Facts
Total Finished SqFt4,275 SqFtAbove Grade Finished SqFt4,275 SqFtLot Size12,004 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningPSR1CountyLOS ANGELESAPN5728-003-033

Schools near 965 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
Washington Accelerated 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.

965 North Summit Avenue is a multi-family home for sale in Pasadena, CA 91103. This property was listed for sale on December 12, 2024 by Compass, it's currently listed at $2,150,000. It has been on the market for a total of 6 days and was last sold on July 26, 2001. This listing's school district is Pasadena Unified School District. Nearby schools include Washington Accelerated Elementary School, Octavia E. Butler Magnet School and John Muir High School. 965 North Summit Avenue is a 9-bed, 6-bath, 4,275 sqft multi-family home built in 1958.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Sam Shakerchi, DRE #01868195

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.