755 East Pine Street Multifamily
  • Property Type
    MultifamilyProperty Type
  • Occupancy
    97%Occupancy
  • Total Units
    19Total Units
  • Avg. Unit Size (SF)
    720 SFAvg. Unit Size (SF)
  • Asking Price
    $5MAsking Price
  • NOI
    $348KNOI

Description

755 East Pine Street is a 19-unit apartment property in unincorporated Altadena, north of Pasadena. The 1958 building provides approximately 13,682 square feet on a 0.51-acre parcel. Seller information identifies two studios of about 435 square feet, ten one-bedroom units of about 756 square feet and seven two-bedroom units of about 925 square feet. Four renovated units are available for leasing.

Public marketing identifies a pool, laundry and gated on-site parking; buyers should confirm the amenities and unit areas. Nearby employment and education destinations include Caltech and JPL. The property falls under Los Angeles County's Rent Stabilization and Tenant Protections Ordinance rather than Los Angeles city RSO. Review current county rent increase limits, just-cause requirements and tenancy records when evaluating the income plan.

Offering Summary

  • Asking Price
    $4,950,000
  • Price PSF
    $337.15
  • Price/Unit
    $260,526
  • Property Type
    Multifamily
  • Occupancy
    97%
  • Built
    1958
  • Parking
    Surface
  • Total Acres
    ~0.51 ac

Sale Details

  • Cap Rate
    7.03%
  • NOI
    $347,747
  • GRM
    9.91
  • Cash-on-Cash
    7.54%

Documents

Property Address

755 East Pine Street
Altadena, CA 91001

Property Details

  • Property Type
    Multifamily
  • Total Units
    19
  • Available Units
    11
  • Occupancy
    97%
  • Average Unit Size
    720 SF
  • Average Rent
    $2,233 /mo
  • Year Built
    1958
  • Amenities
  • Acres
    0.51

Deal Team

Filip Niculete profile image

Filip Niculete

Senior Managing Director, Investments
Marcus & Millichap
CA RE Lic. 01905352