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    Property profile & analytics

    965 N Summit Ave Pasadena, CA 91103

    • Apartment buildings
    • 4,275 SF
    • 0.28 lot acres
    For Sale
    View listing
    $1,550,000
    Value Estimation
    Last Sale
    Aug 11, 2020
    Location Intelligence
    Property ID
    US09-8008800
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 965 N Summit Ave

    Year built
    1958
    Construction
    WOOD
    Lot size
    0.28 lot acres
    Property size
    4,275 SF
    Zone code
    PSR1
    Property type
    Apartment buildings
    APN
    5728-003-033
    APU
    5728003033

    Description

    This exceptional investment opportunity presents a 6-unit apartment building situated on a 12,008 sq ft lot in desirable Pasadena, CA (91103). The property, built in 1958, consists of two, one-story buildings totaling 4,275 square feet and features 12 parking spaces. Currently boasting 100% occupancy, the property offers a compelling value-add proposition. The asking price is $2,150,000, translating to $502.92 per square foot and $358,333.33 per unit. The current Net Operating Income (NOI) stands at $96,051, yielding a 4.47% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $141,000 and a 6.56% cap rate, reflecting the substantial upside potential. The land value alone is estimated at $179.04 per square foot. Zoned PSR1, the property presents opportunities for expansion, potentially including the addition of Accessory Dwelling Units (ADUs). This presents a rare chance to acquire a multifamily property in a high-demand area with considerable room for rent increases and property appreciation. The strong rental market in Pasadena ensures a reliable tenant base, making this a truly attractive investment.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $265,000

    • CAP approach

      CAP return
      Estimation
      6%
      $355,000
      6.5%
      $300,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $330,000
      Geo Method
      $365,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $350,000
      Retail
      $310,000
      Mixed-Use
      $315,000
      Hospitality
      $350,000
      Educational
      $385,000
      Residential Income
      $385,000
      Energy
      $400,000
      Income-Based Land
      $380,000
      Food Service
      $340,000

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.148
    Latitude
    34.1625
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,735
    $231,721
    $238,964
    $470,685
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      4,600 SF

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    • Value Estimation by Request
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      809 Orange Grv Blvd

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    • Value Estimation by Request
      4,896 SF

      1079 Smt Ave

      APARTMENT HOUSE (5+ UNITS) • 4,896 SF
      1079 Smt Ave, Pasadena, CA 91103-2630
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    • Value Estimation by Request
      3,776 SF

      1985 Smt Ave, Unit A

      APARTMENT HOUSE (5+ UNITS) • 3,776 SF
      1985 Smt Ave, Pasadena, CA 91103-1762
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    • Value Estimation by Request
      3,734 SF

      95 Orange Grv Blvd

      APARTMENT HOUSE (5+ UNITS) • 3,734 SF
      95 Orange Grv Blvd, Pasadena, CA 91103-3419
      View Details
    • Value Estimation by Request
      3,878 SF

      1937 Raymond Ave

      APARTMENT HOUSE (5+ UNITS) • 3,878 SF
      1937 Raymond Ave, Pasadena, CA 91103-1770
      View Details

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    965 N Summit Ave
    Pasadena, CA 91103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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