926 North Summit Avenue

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Address: 926 N Summit Ave, Pasadena, CA 91103, USA

California & West + 2-4 Units

Created date: November 26, 2024

Date last updated: December 2, 2024

Located in a very low-density neighborhood of Pasadena
Average House Value is $1MM Plus (within .3 miles)
Major Renovations have been Completed
New Interiors and quality upgrades to the entire unit
Capital Improvements Include New Roofs, New Electrical, New Plumbing
Potential to Add Additional Units- Maximum of 4 (1 Bedroom 1 Bath) units or 1,600 RSF

Property Description

Located in the vibrant heart of Pasadena, this property benefits from the city’s rich cultural heritage, stunning architecture, and thriving arts scene. The area is known for its diverse community, world-class museums, and commitment to sustainability, making it an attractive destination for residents and visitors alike. Recent Comprehensive Renovations This historic building, originally constructed in 1896, has undergone extensive renovations, completed this year. Upgrades include all new plumbing, enhanced electrical systems, freshly painted exteriors, new vinyl fencing, and new roofs throughout. These improvements ensure a modern living experience while preserving the property’s unique charm. Diverse Unit Mix The property features four well-designed units: 1 x 1 Bedroom, 1 Bathroom 1 x 2 Bedroom, 1 Bathroom 2 x 3 Bedroom, 1 Bathroom This diverse unit mix caters to a variety of tenants, from singles and couples to families, enhancing rental demand and potential cash flow. Expansive Lot with Development Potential Situated on a large 10,014 SF lot, the property offers significant development potential. The buyer has the opportunity to build an additional four 1 Bedroom, 1 Bathroom units, expanding the total square footage by approximately 1,600 SF. This potential for expansion presents an attractive avenue for increased revenue and long-term investment growth. Strong Rental Market Pasadena's location near Los Angeles, combined with its desirable amenities, supports a robust rental market. The area attracts a steady influx of residents seeking quality housing in a vibrant community, positioning this investment for strong occupancy rates and rental income. Investment Opportunity This property represents a unique opportunity to invest in a newly rehabbed multifamily building in a sought-after area of Pasadena. With its combination of historic charm, modern amenities, and potential for expansion, this asset is poised for significant appreciation and ongoing cash flow. Don’t miss your chance to acquire this exceptional property in one of Southern California’s most desirable cities!

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	2-4 Units
Price:	$2,295,000
No. of Units:	4
Year Built:	1896
Lot Size:	10,014.00 Sq ft
Opportunity Zone:	No
Price per unit:	$573,750
Property Website	Click Here