940 N Summit Ave

Pasadena, CA

 
 
 
 
 

3

Units

$670.87

PRICE/SQ FT

$408,333

PRICE/Unit

4.90%

CAP

15.71

GRM

5.00%

Pro Forma CAP

15.47

Pro Forma GRM
 

Marcus & Millichap is 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).

The offering is well located less than 2 miles from the premier dining, entertainment and shopping of Old Town Pasadena.

This asset offers an investor the very rare opportunity to acquire a hassle-free, high cash flow, and turn-key triplex in one of Los Angeles County's premier cities.

 
 
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Glen Scher

Vice President

O: (818) 212-2808

M: (818) 667-6683

Email Now

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Filip Niculete

Vice President

O: (818) 212-2748

M: (818) 577-9893

Email Now