Listing banner image
  • Property Type
    MultifamilyProperty Type
  • Total Units
    19Total Units
  • Avg. Unit Size (SF)
    720 SFAvg. Unit Size (SF)
  • Asking Price
    $5,595,000Asking Price
  • NOI
    $322,419NOI
  • In-Place Rents
    $2,233In-Place Rents

Description

755 East Pine Street is a 19-unit, low-rise workforce housing community ideally situated on a 0.51-acre parcel in Altadena’s Foothill submarket. Constructed in 1958 and fully modernized over time, the property delivers 13,682 rentable square feet of living space with an average unit size of 720 square feet. Residents enjoy well-maintained communal outdoor areas and ample surface parking, while the building’s 97% occupancy underscores strong demand in this stable, family-oriented neighborhood.

Offered at $5,595,000 ($408.93 per square foot), the asset currently produces $322,419 of in-place...

Documents

Offering Summary

  • Asking Price
    $5,595,000
  • Price PSF
    $409
  • Price/Unit
    $294,474

Sale Details

  • Cap Rate
    5.76%
  • NOI
    $322,419
  • Return-on-Cost
    6.21%
  • Stabilized Cap Rate
    5.94%
  • Stabilized NOI
    $332,205
  • In-Place Cap Rate
    5.76%
  • In-Place NOI
    $322,419
  • GRM
    10.99
  • Potential GRM
    10.77
  • Cash-on-Cash
    4.19%
  • In-Place Rents
    2,233
  • Market Rents
    2,279
  • Rents Below Market
    2.0%

Documents

Property Address

755 East Pine Street
Altadena, CA 91001

Property Details

  • Total Acres
    1
  • Property Type
    Multifamily
  • Total Units
    19
  • Available Units
    11
  • Occupancy
    97%
  • Average Unit Size
    720 SF
  • Average Rent
    2,233 $/mo
  • Year Built
    1958

Property Details

  • Total Acres
    1
  • Property Type
    Multifamily
  • Total Units
    19
  • Available Units
    11
  • Occupancy
    97%
  • Average Unit Size
    720 SF
  • Average Rent
    2,233 $/mo
  • Year Built
    1958

Deal Team

Filip Niculete profile image
Filip Niculete

Description

755 East Pine Street is a 19-unit, low-rise workforce housing community ideally situated on a 0.51-acre parcel in Altadena’s Foothill submarket. Constructed in 1958 and fully modernized over time, the property delivers 13,682 rentable square feet of living space with an average unit size of 720 square feet. Residents enjoy well-maintained communal outdoor areas and ample surface parking, while the building’s 97% occupancy underscores strong demand in this stable, family-oriented neighborhood.

Offered at $5,595,000 ($408.93 per square foot), the asset currently produces $322,419 of in-place...

Documents

Offering Summary

  • Asking Price
    $5,595,000
  • Price PSF
    $409
  • Price/Unit
    $294,474

Sale Details

  • Cap Rate
    5.76%
  • NOI
    $322,419
  • Return-on-Cost
    6.21%
  • Stabilized Cap Rate
    5.94%
  • Stabilized NOI
    $332,205
  • In-Place Cap Rate
    5.76%
  • In-Place NOI
    $322,419
  • GRM
    10.99
  • Potential GRM
    10.77
  • Cash-on-Cash
    4.19%
  • In-Place Rents
    2,233
  • Market Rents
    2,279
  • Rents Below Market
    2.0%

Documents

Property Address

755 East Pine Street
Altadena, CA 91001

Property Details

  • Total Acres
    1
  • Property Type
    Multifamily
  • Total Units
    19
  • Available Units
    11
  • Occupancy
    97%
  • Average Unit Size
    720 SF
  • Average Rent
    2,233 $/mo
  • Year Built
    1958

Property Details

  • Total Acres
    1
  • Property Type
    Multifamily
  • Total Units
    19
  • Available Units
    11
  • Occupancy
    97%
  • Average Unit Size
    720 SF
  • Average Rent
    2,233 $/mo
  • Year Built
    1958

Deal Team

Filip Niculete profile image
Filip Niculete
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