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$ 5,595,000
Est. payment | /mo
26 Beds
19 Baths
13,682 SqFt
$ 5,595,000
Est. payment | /mo
26 Beds
19 Baths
13,682 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,682 sqft
Price per Sqft $408
MLS Listing ID 26666319
Bedrooms 26
HOA Y/N No
Year Built 1958
Lot Size 0.510 Acres
Lot Dimensions Assessor
Property Description
We are pleased to present 755 East Pine Street, a 19-unit value-add apartment community located in Altadena (unincorporated Los Angeles County), directly north of Pasadena and positioned at the base of the San Gabriel Mountains. The offering features a highly functional, workforce oriented unit mix totaling 13,682 square feet on a 0.51-acre parcel, providing scale in a supply-constrained foothill submarket with strong renter demand driven by nearby Pasadena employment, education, and medical nodes.The property consists of (2) Studios (435 SF), (10) 1BR/1BA (756 SF), and (7) 2BR/1BA (925 SF. Ten (10) units are currently vacant, presenting a rare, immediate execution path to renovate and stabilize operations, allowing an investor to reposition the asset through a systematic interior upgrade program, optimize the rent roll, and capture strong "as-renovated" rent premiums in the immediate trade area. For reference, advertised rents in the area commonly range around ~$2,000 for 1 bedroom units and ~$2,200$2,600 for 2-bedroom units, supporting substantial mark-to-market potential upon completion of renovations and lease-up.Originally constructed in 1958, the subject property benefits from classic Southern California garden style fundamentals and on site amenities that support durable tenant demand. Public marketing sources for this address indicate features such as a pool, on site laundry, and gated/onsite parking. Altadena's profile is further supported by high-income demographics, with U.S. Census QuickFacts showing median household income of $128,720 in 2024 dollars.Altadena is a highly desirable foothill community located immediately north of Pasadena, known for its natural surroundings, historic residential character, and proximity to major employment centers. Residents benefit from convenient access to Pasadena's employment base, including major institutions such as Caltech and NASA's Jet Propulsion Laboratory (JPL), along with a broad concentration of professional services and innovation-oriented employers throughout the Pasadena corridor. The neighborhood also offers proximity to Old Town Pasadena's retail and dining amenities, nearby transit stops, and outdoor recreation at Eaton Canyon and the San Gabriel Mountains.
Location
State CA
County Los Angeles
Area 604 - Altadena
Zoning LCR3YY
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Detached Carport
Total Parking Spaces 19
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5841030021
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap #01905352
Nearby Locations
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