1135 N Summit Ave
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1135 N Summit Ave
1,824 SF 100% Leased Retail Building Pasadena, CA 91103 $1,499,000 ($822/SF) 5.09% Cap Rate
Investment Highlights
- Two Houses on a lot side by side
- Fully Occupied
- Fully Renovated
Executive Summary
Beautifully renovated 2 houses on a lot with one car garage and additional on-site parking; potential to add ADU. Corner lot; houses sit side by side with frontage along Summit Ave and allow for completely independent living and privacy for both homes. Currently fully occupied. Corner building (1135 N. Summit) is a large one bedroom, loft work/live space with two onsite parking spaces in the rear. 1139 N. Summit is a beautiful California bungalow with 2 bedrooms and one bath and large deck in rear. Both buildings separately metered.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,824 SF
Building Class
C
Year Built
1912
Price
$1,499,000
Price Per SF
$822
Cap Rate
5.09%
NOI
$76,299
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Land Acres
0.17 AC
Zoning
RM-12 - Multi-Family Residential – Two Units Per Lot, Low-Medium Density Residential. Potential to add ADU.
Parking
5 Spaces (2.74 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Courtyard
- Fenced Lot
- Storage Space
- Air Conditioning
Walk Score ®
Very Walkable (71)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 5728-002-015 | Total Assessment | $736,239 |
| Land Assessment | $557,758 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $178,481 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5728-002-015
Land Assessment
$557,758
Improvements Assessment
$178,481
Total Assessment
$736,239
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Marina Rossi - The Avi-Ross Group, LLC
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1135 N Summit Ave
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