Altadena, CA91001
| 13682 sqft | MLS# 26666319
Tract:
For Sale $5,595,000
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.
Facts
| Built in 1958 | Lot Size: 22215.00 sqft | HOA Dues: $0/month
Features
Listing provided by Filip Niculete, Marcus & Millichap
Based on information from California Regional Multiple Listing Service, Inc. as of March 19, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.