NOT LISTED FOR SALE

1063 N Summit Ave Pasadena, CA 91103

Orange Heights Neighborhood

Estimated Value: $1,056,000 - $1,357,000

7 Beds
4 Baths
3,533 Sq Ft
$324/Sq Ft Est. Value

Last Sold October 03, 2024

Last sale price $1,020,000 $289 Per Sq Ft

Est. 12% increase in value since last sale

Current estimated payment $6,263/month

156 Days on Market

About This Home

As of October 2024

Investors, welcome to this exceptional property boasting a wealth of opportunities. Situated on a sprawling 15,590-square-foot lot, this residence offers ample space and endless potential. On the property you will find four distinct units, the first unit, located downstairs, features three spacious bedrooms, den area and large kitchen with convenient backyard access. Upstairs, you'll discover two additional units, one offering two bedrooms and the other a cozy one-bedroom layout. Detached from the main unit is a separate standalone unit which features two bedrooms recently updated. The lot size and endless possibilities truly set this property apart along with the future rental upside and the close proximity to Old Town Pasadena, renowned for its charming atmosphere, eclectic shopping, and delectable dining options.

Last Agent to Sell the Property

Teresa Taylor

Keyholder Estate License #01103511 Listed on: 04/02/2024

Co-Listed By

Elsabeth Araya

Keyholder Estate License #02061156

Last Buyer's Agent

Greg Mkrtchyan

Markarian Realty License #01452036

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 0.36 Acre Lot

Parking

  • Driveway

Home Design

  • Quadruplex

Interior Spaces

  • 3,533 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Laundry

  • Dryer
  • Washer

Community Details

  • 2 Buildings
  • 4 Units

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water
  • Assessor Parcel Number 5728-003-007

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 3533
  • Lot Acreage: 0.3580
  • Probate: No
  • Year Built: 1947
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Number Carpet: 1
  • Bedrooms: 7
  • Common Walls: Attached
  • Total Bathrooms: 4.00
  • Equipment: Ceiling Fan, Dryer, Washer
  • Price Per S Q F T: 305.69

Exterior Features

  • Other Structures: Other
  • Number Patio: 2
  • View: No

Garage/Parking

  • Parking Garage: Driveway, Parking Space

Lot Info

  • Assessed Improvement Percent: 67.76
  • Assessed Improvement Value: 125194
  • Assessed Land Percent: 32.24
  • Assessed Land Value: 59578
  • Assessor Parcel Number: 5728-003-007
  • Lot Size Area: 15596

Rental Info

  • Total Actual Rent: 6200.00
  • Owner Pays: Water
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 15.00
  • Number Of Units: 4
  • Type Of Units: 4 plex

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 2, 2024
Closed on
Sep 5, 2024
Sold by
Murphy Millard Augustine and Murphy Martin
Bought by
Greg And Leana Mkrtchyan Living Trust and Mkrtchyan
Seller's Agent
Teresa Taylor
Keyholder Estate
Buyer's Agent
Greg Mkrtchyan
Markarian Realty
List Price
$1,350,000
Sold Price
$1,020,000
Premium/Discount to List
-$330,000
-24.44%
Views
180
Current Estimated Value
$1,143,771

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$123,771
Avg. Annual Appreciation
10.19%
Original Mortgage
$765,000
Outstanding Balance
$754,951
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$388,820
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Greg And Leana Mkrtchyan Living Trust $1,020,000 Lawyers Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Greg And Leana Mkrtchyan Living Trust $765,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/03/2024 10/03/24 Sold $1,020,000 -5.6% $289 / Sq Ft
09/05/2024 09/05/24 Pending -- -- --
08/13/2024 08/13/24 Price Changed $1,080,000 -10.0% $306 / Sq Ft
07/14/2024 07/14/24 Price Changed $1,200,000 -11.1% $340 / Sq Ft
04/02/2024 04/02/24 For Sale $1,350,000 -- $382 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,249 $1,020,000 $765,000 $255,000
2024 $3,249 $188,466 $60,769 $127,697
2023 $3,218 $184,772 $59,578 $125,194
2022 $3,124 $181,150 $58,410 $122,740
2021 $2,994 $177,599 $57,265 $120,334
2020 $2,908 $175,779 $56,678 $119,101
2019 $2,907 $172,333 $55,567 $116,766
2018 $2,900 $168,955 $54,478 $114,477
2016 $2,752 $162,396 $52,363 $110,033
2015 $2,719 $159,958 $51,577 $108,381
2014 $2,706 $156,825 $50,567 $106,258
Source: Public Records

Agents Affiliated with this Home

  • Teresa Taylor

    Seller's Agent in 2024

    Teresa Taylor

    Keyholder Estate

    (310) 713-7211

    1 in this area

    14 Total Sales

    Teresa Taylor
    Section Image
  • Elsabeth Araya

    Seller Co-Listing Agent in 2024

    Elsabeth Araya

    Keyholder Estate

    (323) 334-5172

    1 in this area

    10 Total Sales

    Elsabeth Araya
    Section Image

  • G

    Buyer's Agent in 2024

    Greg Mkrtchyan

    Markarian Realty

    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 24-375453

The MLS

APN: 5728-003-007

California Los Angeles County Pasadena 91103 Orange Heights

1063 N Summit Ave, Pasadena, CA

Not Listed for Sale

MultiFamily

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