NOT LISTED FOR SALE

940 N Summit Ave Pasadena, CA 91103

Orange Heights Neighborhood

Estimated Value: $1,376,000 - $1,769,105

6 Beds
3 Baths
1,826 Sq Ft
$870/Sq Ft Est. Value

Last Sold May 21, 2020

Last sale price $1,225,000 $671 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $8,719/month

130 Days on Market

About This Home

As of May 2020

We are proud to present the unique opportunity to own a turn-key 3-unit property located at 940 N Summit Avenue in Pasadena, California. The offering sits on a huge 10,017 SF lot with 1,826 SF of building area and is comprised of a great mix of all 2-bed/1-bath units.The property has been meticulously rehabbed throughout with a brand new roof, new landscaping, drip system, new a/c and heating, new kitchens, cabinets, stainless steel appliances, flooring, windows & doors, bathrooms, showers, etc.The property will be delivered with 2 vacant units that are completely rent ready allowing an investor to either owner-occupy or rent to tenants of their choosing at market rents. Since the property has less than 5 units, an investor can lock in a 30-year fixed-rate residential loan with today's very low interest rates (even more favorable if one chooses to owner occupy).

Last Agent to Sell the Property

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 10/25/2019

Last Buyer's Agent

Todd McIntosh

Y Realty License #01472763

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $747

Year Built

  • Built in 1963

Lot Details

  • 10,018 Sq Ft Lot

Parking

  • 3 Parking Spaces

Interior Spaces

  • 1,826 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 5729-016-016

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$747

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 1826
  • Lot Dimensions: A0.23
  • Stories: 1
  • Year Built: 1963
  • Number Of Photos: 6
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 6
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 3.00
  • Den: 0
  • Price Per S Q F T: 670.87

Exterior Features

  • Other Structures: Other
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Total Parking: 3

Lot Info

  • Assessed Improvement Value: 115000
  • Assessed Land Value: 500000
  • Assessor Parcel Number: 5729-016-016
  • Geocode Override: No
  • Lot Size Area: 10018

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 15.71
  • Number Of Units: 3
  • Total Annual Expense: 17926
  • Type Of Units: Standard
  • Vacancy Rate: 3%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 25, 2019
Closed on
May 18, 2020
Sold by
North Summit Gardens Llc
Bought by
Home Ownership For Personal Empowerment
Seller's Agent
Filip Niculete
Marcus & Millichap
Buyer's Agent
Todd McIntosh
Y Realty
List Price
$1,225,000
Sold Price
$1,225,000
Current Estimated Value
$1,588,776

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$363,776
Avg. Annual Appreciation
5.16%
Original Mortgage
$315,000
Interest Rate
3.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 25, 2017
Sold by
Hirth Daniel
Bought by
North Summit Gardens Llc

Purchase Details

Closed on
Mar 11, 2016
Sold by
Covarrubias Julian
Bought by
Hirth Daniel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$461,250
Interest Rate
3.58%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 16, 2014
Sold by
Covarrubias Julian
Bought by
Covarrubias Julian and Covarrubias Family Trust
Source: Public Records

Range of Values:

Collateral Analytics

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ICE

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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
Home Ownership For Personal Empowerment $1,225,000 Ticor Title
North Summit Gardens Llc -- None Available
Hirth Daniel $615,000 North American Title Co Inc
Covarrubias Julian -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Home Ownership For Personal Em $480,000
Open Home Ownership For Personal Em $723,000
Closed Home Ownership For Personal Em $693,859
Closed Home Ownership For Personal Empowerment $315,000
Closed Home Ownership For Personal Empowerment $815,500
Previous Owner Hirth Daniel $461,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/21/2020 05/21/20 Sold $1,225,000 0.0% $671 / Sq Ft
03/03/2020 03/03/20 Pending -- -- --
10/25/2019 10/25/19 For Sale $1,225,000 -- $671 / 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 $747 $1,339,713 $874,915 $464,798
2024 $747 $1,313,445 $857,760 $455,685
2023 $736 $1,287,692 $840,942 $446,750
2022 $867 $1,262,444 $824,453 $437,991
2021 $14,033 $1,237,691 $808,288 $429,403
2020 $7,569 $652,642 $530,604 $122,038
2019 $7,585 $639,846 $520,200 $119,646
2018 $7,621 $627,300 $510,000 $117,300
2017 $7,529 $615,000 $500,000 $115,000
2016 $2,218 $142,705 $52,688 $90,017
2015 $2,191 $140,562 $51,897 $88,665
2014 $2,175 $137,810 $50,881 $86,929
Source: Public Records

Agents Affiliated with this Home

  • Filip Niculete

    Seller's Agent in 2020

    Filip Niculete

    Marcus & Millichap

    (818) 357-9525

    105 Total Sales

    Filip Niculete
    Section Image
  • Todd McIntosh

    Buyer's Agent in 2020

    Todd McIntosh

    Y Realty

    (424) 401-7354

    8 Total Sales

    Todd McIntosh
    Section Image
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Map

Source: The MLS

MLS Number: 19-524372

The MLS

APN: 5729-016-016

California Los Angeles County Pasadena 91103 Orange Heights

940 N Summit Ave, Pasadena, CA

This home is located at 940 N Summit Ave, Pasadena, CA 91103 since 25 October 2019 and is currently estimated at $1,588,776, approximately $870 per square foot. This property was built in 1963. 940 N Summit Ave is a home located in Los Angeles County with nearby schools including Washington Elementary STEM Magnet, Octavia E. Butler Magnet, and John Muir High School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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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