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411 N Summit Avenue

Pasadena, CA 91103
  • $5,130,000
  • STATUS: ACTIVE
  • ON SITE: 70 Days
  • ID#: PF23180675
UPDATED: 30 min ago
$5,130,000
  • 3
    BEDS
  • 0.39
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

411 North Summit Avenue is a charming 18-unit garden-style apartment in Pasadena that has been well-maintained by the same owner for nearly 20 years. It has a stable operating history and is strategically located on the first block north of the 210 Freeway. It is west of North Marengo Avenue and east of North Raymond Avenue. It boasts an 86 Walk Score and a 98 Bike Score. The two-story property was built in 1963 on a slab foundation and boasts 11,521 rentable square feet. It is situated on a 17,002 square foot lot. It features a strong unit mix of four studios, ten one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. The property offers on-site laundry (new machines were purchased last year) , and 19 parking spaces. There are 11 carport spaces, seven tuck-under spaces, and one open space. Seismic retrofit for tuck-under spaces has not been completed by the Seller. Within the past 10 years, all the plumbing has been replaced with copper, the gas line was replaced, subpanels and main breakers were replaced, and all the shower tubs were replaced. Within the past five years, the roof was treated with a 50 year silicone recoating. Select units have been tastefully renovated with vinyl flooring, new cabinets, granite countertops, ceiling fans, recessed lighting, microwaves, and refinished showers and tubs. Select units also offer balconies. Units utilize wall air conditioning units, wall heaters, and individual tankless water heaters. The property is individually metered for gas and electricity. The Owner pays for water, trash, sewer, and common area gas and e 411 North Summit Avenue is a charming 18-unit garden-style apartment in Pasadena that has been well-maintained by the same owner for nearly 20 years. It has a stable operating history and is strategically located on the first block north of the 210 Freeway. It is west of North Marengo Avenue and east of North Raymond Avenue. It boasts an 86 Walk Score and a 98 Bike Score. The two-story property was built in 1963 on a slab foundation and boasts 11,521 rentable square feet. It is situated on a 17,002 square foot lot. It features a strong unit mix of four studios, ten one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. The property offers on-site laundry (new machines were purchased last year) , and 19 parking spaces. There are 11 carport spaces, seven tuck-under spaces, and one open space. Seismic retrofit for tuck-under spaces has not been completed by the Seller. Within the past 10 years, all the plumbing has been replaced with copper, the gas line was replaced, subpanels and main breakers were replaced, and all the shower tubs were replaced. Within the past five years, the roof was treated with a 50 year silicone recoating. Select units have been tastefully renovated with vinyl flooring, new cabinets, granite countertops, ceiling fans, recessed lighting, microwaves, and refinished showers and tubs. Select units also offer balconies. Units utilize wall air conditioning units, wall heaters, and individual tankless water heaters. The property is individually metered for gas and electricity. The Owner pays for water, trash, sewer, and common area gas and electricity. Buyer to verify all information provided.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
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411 N Summit Avenue Pasadena, CA 91103

  • Price: $5,130,000
  • Status: ACTIVE
  • On Site: 70 Days
  • Updated: 30 min ago
  • ID#: PF23180675
3
Beds
0
Baths
0
½ Baths
0.39
Acres
Neighborhood:
Pasadena (91103)
County:
Los Angeles
Area:
Pasadena (91103)
Property Description
411 North Summit Avenue is a charming 18-unit garden-style apartment in Pasadena that has been well-maintained by the same owner for nearly 20 years. It has a stable operating history and is strategically located on the first block north of the 210 Freeway. It is west of North Marengo Avenue and east of North Raymond Avenue. It boasts an 86 Walk Score and a 98 Bike Score. The two-story property was built in 1963 on a slab foundation and boasts 11,521 rentable square feet. It is situated on a 17,002 square foot lot. It features a strong unit mix of four studios, ten one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. The property offers on-site laundry (new machines were purchased last year) , and 19 parking spaces. There are 11 carport spaces, seven tuck-under spaces, and one open space. Seismic retrofit for tuck-under spaces has not been completed by the Seller. Within the past 10 years, all the plumbing has been replaced with copper, the gas line was replaced, subpanels and main breakers were replaced, and all the shower tubs were replaced. Within the past five years, the roof was treated with a 50 year silicone recoating. Select units have been tastefully renovated with vinyl flooring, new cabinets, granite countertops, ceiling fans, recessed lighting, microwaves, and refinished showers and tubs. Select units also offer balconies. Units utilize wall air conditioning units, wall heaters, and individual tankless water heaters. The property is individually metered for gas and electricity. The Owner pays for water, trash, sewer, and common area gas and e 411 North Summit Avenue is a charming 18-unit garden-style apartment in Pasadena that has been well-maintained by the same owner for nearly 20 years. It has a stable operating history and is strategically located on the first block north of the 210 Freeway. It is west of North Marengo Avenue and east of North Raymond Avenue. It boasts an 86 Walk Score and a 98 Bike Score. The two-story property was built in 1963 on a slab foundation and boasts 11,521 rentable square feet. It is situated on a 17,002 square foot lot. It features a strong unit mix of four studios, ten one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. The property offers on-site laundry (new machines were purchased last year) , and 19 parking spaces. There are 11 carport spaces, seven tuck-under spaces, and one open space. Seismic retrofit for tuck-under spaces has not been completed by the Seller. Within the past 10 years, all the plumbing has been replaced with copper, the gas line was replaced, subpanels and main breakers were replaced, and all the shower tubs were replaced. Within the past five years, the roof was treated with a 50 year silicone recoating. Select units have been tastefully renovated with vinyl flooring, new cabinets, granite countertops, ceiling fans, recessed lighting, microwaves, and refinished showers and tubs. Select units also offer balconies. Units utilize wall air conditioning units, wall heaters, and individual tankless water heaters. The property is individually metered for gas and electricity. The Owner pays for water, trash, sewer, and common area gas and electricity. Buyer to verify all information provided.
Exterior Features

Pool N/K

Interior Features

Cooling Wall/Window Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1

Property Features

Actual Cap Rate 4.77 Annual Expense Actual 127919 Buildings 1 Cfd Mello Roos Fee 3765.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 13.36 Gross Scheduled Income Actual 383928 Home Owners Fees 0.0 Monthly Total Fees 313 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit1 Rent Actual 1661.0 Unit2 Rent Actual 1739.0 Unit3 Rent Actual 1946.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Andy Chan of Keller Williams Realty: 626-321-7410. Listing information © 2023 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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