839 N Summit Avenue, Pasadena, California 91103, Pasadena, 91103 - bed, bath
839 N Summit Avenue
Pasadena, California 91103
Property Price
SUMMARY
Analysis of 839 N Summit Avenue, Pasadena, California 91103 is currently available with a list price of $4,429,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Pasadena Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Built in 1989, the property is well-maintained and features significant recent updates. Several units have been fully renovated with modern aesthetics, including white shaker cabinets, stone countertops, stainless steel appliances, and new laminate wood flooring. The bathrooms in these units feature updated vanities and contemporary tile work. With copper plumbing and move-in ready vacant units, the property meets the 'Good' criteria, showing minimal wear in renovated areas and functional systems throughout.
PROSSTRENGTHS & OPPORTUNITIES
- Immediate Rental Upside
With five vacant units—three of which are already fully remodeled—investors can immediately lease at current market rates, providing instant cash flow and tenant selection flexibility.
- Modern Infrastructure
Built in 1989, the property features copper plumbing and updated laminate flooring, offering superior structural integrity and lower maintenance risks compared to older Pasadena apartment stock.
- Enhanced Security and Amenities
The property is situated within a gated community and includes essential tenant draws such as covered parking, private balconies, and an on-site laundry room, which support high occupancy rates.
CONSRISKS & DEFICIENCIES
- Stabilized Tenant Base
Nine units are occupied by long-term tenants, which likely indicates below-market rents and potential limitations on immediate income growth due to local rent stabilization ordinances.
- Future Capital Expenditure
While three units are renovated, the remaining eleven units will eventually require significant capital investment to modernize and achieve the building's full value-add potential.
About 839 N Summit Avenue
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.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1989
- Lot Size
- 14,992 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | 2.0 | 23% |
| Baths | - | 2.0 | 15% |
| Square foot | 8,902 | 1,374 | 92% |
| Lot Size | 14,992 | 113,216 | 15% |
| Price | $4.43M | $888.0K | 92% |
| Price per sq ft | $498 | $616 | 31% |
| Built year | 1989 | 1983 | 62% |
| HOA | $0 | $610 | 8% |
| Days on market | 387 | 185 | 0% |
Pricing History
Listed for Sale
Feb 12, 2025
$4,429,000
Initial Listing