839 N Summit Ave Pasadena, CA 91103
Orange Heights NeighborhoodEstimated payment $26,686/month
Highlights
- 0.34 Acre Lot
- Living Room
- Accessible Parking
- No HOA
- Laundry Room
- Heating Available
About This Home
Introducing an exceptional opportunity to acquire Summit Apartments, a value-add property located in the desirable Villa Parke community of Pasadena. 5 units ready for immediate move in including 3 units fully remodeled and 9 units with long term tenants. This apartment building offers a combination of one- and two-bedroom units, featuring amenities such as new laminate wood flooring and private balconies. The property is situated in a gated community and includes a laundry room, covered parking, and copper plumbing. Built in 1989, this asset presents significant potential for rental income growth. The building includes 9 units with long-term, well-established tenants and 5 vacant units, each 1-bedroom, 1-bath. 3 of these vacant units have been fully renovated, boasting new floors, fresh paint, updated kitchens, and modern bathrooms allowing the new owner the flexibility to choose and put their own tenants in place right away.
Listing Agent
Wind Water, Inc Brokerage Phone: 949-423-9800 License #01946342 Listed on: 02/12/2025
Property Details
Home Type
- Condominium
Year Built
- Built in 1989
Home Design
- Entry on the 1st floor
Interior Spaces
- 8,902 Sq Ft Home
- 1-Story Property
- Living Room
- Living Room Balcony
- Laminate Flooring
Bedrooms and Bathrooms
- 12 Bedrooms
- 10 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Parking
- Parking Available
- Covered Parking
- Community Parking Structure
Additional Features
- Accessible Parking
- Two or More Common Walls
- Urban Location
- Heating Available
Listing and Financial Details
- Legal Lot and Block 54 / U
- Tax Tract Number 1
- Assessor Parcel Number 5725011017
- $3,038 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 14 Units
Amenities
- Laundry Facilities
Building Details
- 9 Leased Units
- Rent Control
- 14 Separate Electric Meters
- Operating Expense $67,800
- Gross Income $182,952
- Net Operating Income $113,400
Map
Home Values in the Area
Average Home Value in this Area
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 | $46,438 | $4,032,589 | $3,024,442 | $1,008,147 |
| 2024 | $46,438 | $3,953,520 | $2,965,140 | $988,380 |
| 2023 | $46,058 | $3,876,000 | $2,907,000 | $969,000 |
| 2022 | $33,468 | $2,788,796 | $1,695,150 | $1,093,646 |
| 2021 | $32,113 | $2,734,114 | $1,661,912 | $1,072,202 |
| 2019 | $30,940 | $2,660,630 | $1,612,620 | $1,048,010 |
| 2018 | $31,438 | $2,608,610 | $1,581,000 | $1,027,610 |
| 2016 | $23,720 | $1,901,549 | $1,040,235 | $861,314 |
| 2015 | $23,453 | $1,872,987 | $1,024,610 | $848,377 |
| 2014 | $23,046 | $1,836,299 | $1,004,540 | $831,759 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/12/2025 02/12/25 | For Sale | $4,429,000 | +16.6% | $498 / Sq Ft | |
| 06/02/2022 06/02/22 | Sold | $3,800,000 | -1.3% | $427 / Sq Ft | View Prior Sale |
| 03/08/2022 03/08/22 | Pending | -- | -- | -- | |
| 03/02/2022 03/02/22 | For Sale | $3,850,000 | 0.0% | $432 / Sq Ft | |
| 01/28/2022 01/28/22 | Pending | -- | -- | -- | |
| 01/12/2022 01/12/22 | For Sale | $3,850,000 | +51.0% | $432 / Sq Ft | |
| 10/13/2016 10/13/16 | Sold | $2,550,000 | 0.0% | $286 / Sq Ft | View Prior Sale |
| 08/11/2016 08/11/16 | Price Changed | $2,550,000 | 0.0% | $286 / Sq Ft | |
| 08/11/2016 08/11/16 | For Sale | $2,550,000 | 0.0% | $286 / Sq Ft | |
| 03/18/2016 03/18/16 | Off Market | $2,550,000 | -- | -- | |
| 03/07/2016 03/07/16 | For Sale | $2,350,000 | +28.6% | $264 / Sq Ft | |
| 11/19/2012 11/19/12 | Sold | $1,828,000 | -2.8% | $205 / Sq Ft | View Prior Sale |
| 09/10/2012 09/10/12 | Pending | -- | -- | -- | |
| 08/01/2012 08/01/12 | For Sale | $1,880,000 | -- | $211 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC25017098
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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