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.
Property Details
Price:
$2,150,000
MLS #:
24471701
Status:
Active
Baths:
0
Address:
965 N Summit Avenue
Type:
Residential Income
Neighborhood:
645pasadenanw
City:
Pasadena
Listed Date:
Dec 12, 2024
State:
CA
ZIP:
91103
Lot Size:
12,008 sqft / 0.28 acres (approx)
Year Built:
1958
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Schools
Interior
Exterior
Parking Features
Guest, Parking Space, Carport
Parking Spots
12.00
Stories Total
1
Financial
Map
Community
- Address965 N Summit Avenue Pasadena CA
- Area645 – Pasadena (NW)
- CityPasadena
- CountyLos Angeles
- Zip Code91103
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Courtesy of Compass. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
965 N Summit Avenue
Pasadena, CA
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