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Sheila Godkin

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$ 1,399,000

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1135-1139 N Summit Ave Pasadena, CA 91103

3 Beds

2 Baths

1,020 SqFt

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Sat Apr 05, 12:00pm - 2:00pm

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 1,020 sqft

Price per Sqft $1,371

MLS Listing ID 250021642

Bedrooms 3

Full Baths 2

HOA Y/N No

Year Built 1912

Lot Size 7,451 Sqft

Lot Dimensions 98x76

Property Sub-Type Res Income 2-4 Units

Property Description

Two beautifully restored houses sit side by side on a generous 7,451 sq. ft. corner lot, offering both space and versatility. The 1,200 sq. ft. California Craftsman features two bedrooms, one bathroom, a private yard, a driveway, and a detached garage. Next to it, the 1,020 sq. ft. Modern Farmhouse offers one bedroom, one bathroom, an open floor plan, drought-resistant desert landscaping, and two dedicated parking spots. Together, these properties generate an impressive annual income, equating to a strong cap rate and a standout return in today's competitive market. Beyond immediate cash flow, this property offers long-term value appreciation, blending timeless architectural appeal with solid financial performance. This property also provides flexibility beyond investment potential. One home can serve as a primary residence while the other generates solid rental income (currently $4,000 per month) to offset living or mortgage expenses. Alternatively, both homes can be used for multi-generational living, offering privacy while keeping family members close. Zoned RM-12 (Multi-Family Residential – Two Units Per Lot), this property allows for the development of a third-unit ADU, further enhancing its investment potential. The garage is wired and has a dedicated electrical circuit for a standalone AC unit, with nearby plumbing and a mainline cleanout. An ADU can be added to create a one-bedroom unit with its own backyard and entrance, with an estimated rental income of $2,000 per month. The California Craftsman house will be delivered vacant.
Recent upgrades at 1135 N Summit Ave include a new mini-split HVAC system, a new roof, new plumbing with a tankless water heater, new electrical, new appliances, new cabinets, upgraded plumbing fixtures, a renovated kitchen, a renovated bathroom, and new flooring. Recent upgrades at 1139 N Summit Ave include refinished original hardwood floors, restored original cabinets and windows with original hardware throughout, a new backyard deck, double French doors in the kitchen and primary bedroom opening to the backyard, unique original light fixtures, updated electrical wiring and new panel, updated plumbing with cast iron pipe replacements and new drain lines under the house, new tile in the kitchen and bath, and new appliances. Washer and dryer in both houses will convey with the sale.

Location

State CA

County Los Angeles

Area Pasadena (91103)

Building/Complex Name Garfield Heights

Zoning RM-12

Interior

Heating Electric, Natural Gas, Other/Remarks

Cooling Central Forced Air, Other/Remarks

Appliance Forced Air Unit, Other/Remarks

Exterior

Exterior Feature Wood

Parking Features Unit1:N/K Unit2:Detached

Garage Spaces 1.0

Fence Full

Roof Type Composition

Building

Lot Description Corner Lot, Sidewalks, Street Paved

Story 1

Lot Size Range 4000-7499 SF

Sewer Sewer Connected

Water Meter on Property

Level or Stories 1 Story

Others

Acceptable Financing Cash, Conventional

Space Rent $4,000

Listing Terms Cash, Conventional

Pets Allowed Yes

Virtual Tour https://url.usb.m.mimecastprotect.com/s/0c48CXYBAKckRvJQquDimUWzqJC?domain=tours.previewfirst.com

Listed by Paul Ragnvaldsson • Coldwell Banker Realty

Sheila Godkin

Agent | CA DRE#01948190

+1(858) 888-5559

Sheila Godkin

1135-1139 N Summit Ave Pasadena, CA 91103

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Others

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1135-1139 N Summit Ave