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541 N Summit Ave, Pasadena, CA 91103
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541 N Summit Ave Pasadena, CA 91103

$1,350,000
  • 8 Beds
  • 4 Baths
  • 3,700 Sq.Ft.
Pending
$1,350,000 Get Pre-Qualified
Map preview of 541 N Summit Ave, Pasadena, CA 91103

Property Overview: 541 N Summit Ave Pasadena, CA has 8 bedrooms, 4 bathrooms, 3,700 living square feet and 6,982 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Welcome to your investment opportunity in the desirable city of Pasadena. This property features (2) two-story buildings with 4 units total, situated on a 6,982 Sq. Ft. Lot. Each building has an upstairs and downstairs unit. Total of 4 units with 100% occupancy. Each of the (4) units are 2 bedrooms + den (used as 3rd bedroom), and 1 bathroom. Each unit features indoor laundry hookups, a/c wall units, and its own parking spot in the back carport. Full exterior has been painted. The property features a long driveway, each building has a small yard area in front of each one, and a carport towards the back. Sold as-is with tenants in place. The property is conveniently located minutes from many local landmarks, parks, shopping centers, and Metro line.

Listed by Remoun Said | BRE #01427142 | Keller Williams Pacific Estate
Last checked: 14 minutes ago | Last updated: September 16th, 2024 | Source CRMLS | DOM: 35

Home details

Lot Sq. Ft
6,982
HOA Dues
$0/mo
Year built
1965
Garage
4 Car
Property Type:
Fourplex
Status
Pending
MLS#
DW24139381
City
Pasadena
County
Los Angeles
Time on Site
70 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,530
  • Total Rent: $1,530
  • Pro Forma/Market Rent: $2,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $73,440
  • Net Operating Income: $56,460
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $16,980
  • Gas/Fuel: $0
  • Trash: $3,600
  • Insurance: $2,380
  • Water/Sewer: $11,000
  • Other Expenses: $1,800
  • Other Expense Description: Mngt Fee

Open Houses for 541 N Summit Ave

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Property Details for 541 N Summit Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • In Kitchen
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Tile, Vinyl
  • Kitchen, Living Room
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Carport, Detached Carport
Lot Information
  • Lot Features: Front Yard
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 5725007002
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of the 210, East of Fair Oaks Ave
Neighborhood Information
  • Community Features: Curbs, Golf, Park, Sidewalks, Street Lights
View more facts & features

Local Pasadena Agent

Sale History for 541 N Summit Ave

Last sold on November 4th, 2020

  • August, 2024

  • Aug 15, 2024

    Date

    Pending

    CRMLS: DW24139381

    $1,350,000

    Price

  • Jul 9, 2024

    Date

    Active

    CRMLS: DW24139381

    $1,375,000

    Price

  • November, 2020

  • Nov 4, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • October, 2020

  • Oct 21, 2020

    Date

    Sold

    CRMLS: 320002251

    $1,249,000

    Price

  • Sep 24, 2020

    Date

    Pending

    CRMLS: 320002251

    $1,249,000

    Price

  • Sep 2, 2020

    Date

    Hold

    CRMLS: 320002251

    $1,249,000

    Price

  • Jul 29, 2020

    Date

    Active

    CRMLS: 320002251

    $1,249,000

    Price

  • Jul 15, 2020

    Date

    Pending

    CRMLS: 320002251

    $1,249,000

    Price

  • Jul 6, 2020

    Date

    Active

    CRMLS: 320002251

    $1,249,000

    Price

  • Listing provided courtesy of CRMLS

    Offered for sale is this great Residential Income property in a desirable Pasadena neighborhood. The property features an ideal mix of four identical large 2 bed and 1 bath units + den (used as 3rd bedroom) that are 100% occupied with long term tenants. Each unit measures approximately 925 sqft with their own laundry hookups and are individually metered (gas and electricity). Tenants have not been affected by the current pandemic and are in good standing with rents paid up to date. Property offers two separate common areas and a carport for four cars. Property has great rental upside with a potential of providing an attractive cap of over 5% and GRM of 14.5! Copy and paste the URL Virtual tour and floor plan - (https://my.matterport.com/show/?m=53n8XZ3vvsp&mls=1)

  • October, 2020

  • Oct 16, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,249,000

    Price

  • July, 2020

  • Jul 3, 2020

    Date

    Canceled

    CRMLS: 20569430

    $1,385,000

    Price

  • Apr 6, 2020

    Date

    Active

    CRMLS: 20569430

    $1,385,000

    Price

  • Listing provided courtesy of CRMLS

    541 N Summit Avenue is an attractive 4-unit apartment community in Pasadena. It is located one mile from the historic Old-Town Pasadena. The property features an ideal mix of four (4) large 2 bed and 1 bath units + bonus space. The property is well-parked, with one covered parking space per unit. Expenses are low as each unit has individual gas and electric meters. Access and interior viewing will be extremely limited. Experienced investors with existing portfolios and who appreciate the current atmosphere are expected.

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Tax History for 541 N Summit Ave

Assessed Value (2020): $1,040,692
Year Land Value Improved Value Assessed Value
2020 $711,012 $329,680 $1,040,692

Home Value Compared to the Market

This property vs the competition

541 N Summit Ave is listed 8% higher than the median list price for the city of Pasadena which has a median list price of $1,250,000. The median price per/sqft for Pasadena is $767 and this home is listed at $364.86 per/sqft which puts the price per square foot 52.43% lower than the median price per square foot for the city of Pasadena.

About 541 N Summit Ave

Detailed summary of property

541 N Summit Ave is a fourplex located in Pasadena, CA 91103 and is currently in escrow to be sold. This fourplex offers 8 bedrooms, 4 bathrooms, roughly 3,700 living square feet, and sits on an approximately 6,982 square foot lot. 541 N Summit Ave was first listed on ArdentRealEstateGroup.com on July 10, 2024. The homeowner is currently asking $1,350,000 and was originally asking $1,375,000. The median priced home in Pasadena is $1,250,000 with a median price per square foot of $767. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 8% higher than the median priced home. Local competing homes currently for sale include 1758 Lincoln Ave, 314 N Holliston Ave and 925 Atchison. While the average home in Pasadena, CA is selling in 56 days, 541 N Summit Ave has a days on market of 35 days. There are currently 335 homes for sale in the Pasadena real estate market and 179 of them are single family homes while 119 of them are condos and 37 are townhomes. For more information on this home for sale at 541 N Summit Ave Pasadena, CA 91103 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 541 N Summit Ave

Public county record property details
Beds
8
Baths
4
Year built
1965
Sq. Ft.
3,700
Lot Size
6,979
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,4
APN
5725-007-002

The source for these homes facts are from public records.

91103 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$999,000
Median List Price/Sq.Ft.
$857
Median Sold Price
$1,565,000
Median Sold Price/Sq.Ft.
$696
Total Inventory
40
Median Sale to List Price %
130.53%
Avg Days on Market
25
Loan Type
Conventional (23.08%), FHA (0%), VA (0%), Cash (53.85%), Other (7.69%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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