$3,850,000
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0.34 Acres Lot
SOLD DATE : 06/02/2022
Key Details
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22006892
Sold Date 06/02/22
HOA Y/N No
Year Built 1989
Lot Size 0.344 Acres
Property Description
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%.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Zoning PSR1
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 23
Pool None
Community Features Hiking, Street Lights, Suburban, Valley
Total Parking Spaces 23
Private Pool No
Building
Lot Description 2-5 Units/Acre, Rectangular Lot
Story 1
Entry Level One
Sewer Septic Tank
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5725011017
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Gary Tolfa Triqor Group
