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Key Details
Sold Price $3,800,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22006892
Sold Date 06/02/22
Bedrooms 3
HOA Y/N No
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%.
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 Pasadena (91103)
Zoning Public Rec
Building
Story 1
Sewer Septic Installed
Level or Stories 1 Story
Others
Acceptable Financing Conventional
Space Rent $1,383
Listing Terms Conventional
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Bought with Gary Tolfa • Triqor Group
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "