839 N Summit Avenue, Pasadena, CA 91103

About this property

Presenting the opportunity to acquire Summit Apartments, an excellent value-add apartment building situated in the Villa Parke community of Pasadena. The property offers a mix of one and two-bedroom units with amenities such as new laminate wood flooring and balconies. The apartment building is a gated community and features a laundry room, covered parking, and copper plumbing. This property offers an investor the opportunity to acquire a 1989 constructed asset with approximately 20% upside in rents, a current cap rate of 4.2%, and a market cap rate of 5.7%.

Listing description from the June 2022 sale, as reported to CRMLS.

Sale history

$3,800,000

Sold June 2022 · listed $3,850,000, on market January 2022 · MLS #PW22006892 · Source: CRMLS

Listing Agent: Gary Tolfa · Listing Office: Triqor Group · Contact: 949-756-3232 · Bought with: Gary Tolfa · Triqor Group

$2,550,000

Sold October 2016 · orig. $2,350,000, on market March 2016 · MLS #TR16047410 · Source: CRMLS

Listing Agent: Kevin Lee · Listing Office: Coldwell Banker George Realty · Contact: 626-810-6660 · Bought with: Kevin Lee · Coldwell Banker George Realty

$1,828,000

Sold November 2012 · listed $1,880,000, on market August 2012 · MLS #A12095945 · Source: CRMLS

Listing Agent: Phoebe Chen · Listing Office: Coldwell Banker George Realty · Contact: 626-289-6660 · Bought with: Kevin Lee · Coldwell Banker George Realty

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