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$ 5,595,000
Est. payment | /mo
13,682 SqFt
$ 5,595,000
Est. payment | /mo
13,682 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,682 sqft
Price per Sqft $408
MLS Listing ID CL26666319
HOA Y/N No
Year Built 1958
Lot Size 0.510 Acres
Acres 0.51
Property Sub-Type Other
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 t
Location
State CA
County Los Angeles
Zoning LCR3
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5841030021
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Listed by Filip Niculete • Marcus & Millichap
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