755 E Pine St
- Built in 1958
- Strong Value Add Opportunity
- Pool, Parking & Laundry
- Large 22,215 SF Lot
- High Resource/DDA
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), per seller/owner information. Four (4) renovated units are currently available, allowing an incoming owner to lease finished product immediately rather than fund and execute a turn program from day one. 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/on-site parking. Altadena’s profile is further supported by high-income demographics, with U.S. Census QuickFacts showing median household income of $128,720 (2020–2024, in 2024 dollars). Altadena is located in unincorporated Los Angeles County and is not subject to the City of Los Angeles RSO. The property falls under the County of Los Angeles Rent Stabilization and Tenant Protections Ordinance, which limits annual rent increases to 60% of CPI and includes just cause eviction protections. Altadena sits immediately north of Pasadena with convenient access to the Pasadena employment base, including major institutions such as Caltech and the Jet Propulsion Laboratory (JPL), as well as a broad concentration of professional services and innovation-oriented employers throughout the Pasadena corridor. The neighborhood setting also benefits from proximity to everyday retail and transit stops, and walkability indicators for the immediate area have been described as “Very Walkable” in third-party neighborhood scoring.
Key Property Information
| Listing Status: | Available |
|---|---|
| Price: | $4,950,000 |
| No. of Units: | 19 |
| Cap Rate: | 7.03% |
| GRM /GIM: | 9.91 |
| Year Built: | 1958 |
| Building Size: | 14,682 Sq ft |
| Lot Size: | 0.51 Acres |
| Opportunity Zone: | No |
| Price per unit: | $260,526 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Luka Leader | 818-212-2743 | [email protected] |
| Glen Scher | 818-212-2808 | [email protected] |
| Filip Niculete | 818-212-2748 | [email protected] |
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