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 TypeMultifamily
- Occupancy97%
- Built1958
- ParkingSurface
- Total Acres~0.51 ac
Sale Details
- Cap Rate7.03%
- NOI$347,747
- GRM9.91
- Cash-on-Cash7.54%
Documents
Property Address
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
Outdoor & Common Areas, Parking & Access - Acres
0.51
Deal Team



