Offering

The Offering

The LAAA Team of Marcus & Millichap is pleased to present 755 East Pine Street, a near-turnkey 19-unit apartment community in Altadena (unincorporated Los Angeles County), directly north of Pasadena 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 where renter demand is anchored by Pasadena employment, education, and medical nodes.

1. 01

   Good Unit Mix of (7) 2BR/1BA, (10) 1BR/1BA, and (2) Studios.

2. 02

   Eighteen (18) of the nineteen (19) units are fully renovated, letting an investor own finished product without inheriting a renovation program.

3. 03

   Recent leasing at the property includes two-bedroom signings at $2,400 to $2,500 and a one-bedroom at $2,100.

4. 04

   A ratio utility billing system (RUBS) is in place, passing utility costs through to tenants and keeping operating expenses lean.

5. 05

   Originally constructed in 1958, the property benefits from classic Southern California garden-style fundamentals and on-site amenities, including a pool, on-site laundry, and gated/on-site parking.

6. 06

   Altadena's profile is supported by high-income demographics, with U.S. Census QuickFacts showing median household income of $128,720.

7. 07

   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.