1685 N Summit AVE Pasadena, CA 91103
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26235935
HOA Y/N No
Year Built 1921
Lot Size 0.723 Acres
Property Sub-Type Apartment
Property Description
The property features a uniform unit mix of twenty one-bedroom, one-bathroom residences, arranged as a combination of apartment flats and private bungalows. Property features include mostly updated interiors, washer and dryer hookups in every unit, individual hot water heaters, private outdoor areas, and 32 parking spaces. Additional improvements noted in the property setup include updated roofs, vinyl windows, and electrical panels.
The investment offers approximately 14.2% potential residential rental upside based on current modeled rents compared to projected market rents, providing an opportunity for future income growth through leasing and rent adjustments, subject to applicable rent regulations and market conditions.
Further enhancing the offering is a separate approximately 3,658-square-foot parcel (APN 5837-006-002), adding another element to the investment. Buyers should independently verify parcel boundaries, zoning, permitted uses, and any future development potential with the City of Pasadena.
Located in Northwest Pasadena, the property is near Old Pasadena, the Playhouse District, the Rose Bowl, Arroyo Seco, and Washington Park. Nearby employment, educational, and research institutions include NASA's Jet Propulsion Laboratory, Caltech, Huntington Hospital, and Pasadena City College. The 210, 134, and 110 Freeways and nearby Metro A Line service provide regional transportation options throughout Los Angeles County.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Interior
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Garage Spaces 32.0
Garage Description 32.0
Pool None
Community Features Urban
Total Parking Spaces 32
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5837006016
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
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