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$1,395,000
3 Beds ⋅ 2 Baths ⋅ AR26166252 MLS ⋅ Active Status
Nestled in the picturesque, tree-lined Presidents Streets neighborhood, this beautifully reimagined 1940s home blends timeless charm with modern living. Featuring 3 bedrooms, 2 bathrooms, a spacious family room, two fireplaces, and an open-concept kitchen that flows seamlessly into the dining area, it's perfect for everyday living and entertaining. Extensively renovated with a new roof, updated kitchen and bathrooms, new flooring, new windows, and many additional improvements, this move-in-ready home offers comfort, style, and quality in one of the area's most desirable communities.

1956 N Roosevelt, Altadena
$5,395,000
26 Beds ⋅ 19 Baths ⋅ 26666319 MLS ⋅ Active Status
The LAAA Team of Marcus & Millichap is pleased to present 755 E Pine St, a 19-unit garden-style community in Altadena, now offered at $5,395,000, reduced from $5,595,000. Four vacant units provide immediate lease-up upside in a supply-constrained foothill submarket directly north of Pasadena, where advertised rents run about $2,000 for one-bedroom units and $2,200 to $2,600 for two-bedrooms. The new basis equates to $283,947 per unit with a 6.30% current cap rate and a 6.74% pro forma cap rate. Repriced to $5,395,000 from $5,595,000, a new basis of $283,947 per unit and $394.31 per square foot. Four vacant units, units 3, 9, 11, and 15, provide a day-one renovation and lease-up runway. Advertised area rents of about $2,000 for one-bedroom units and $2,200 to $2,600 for two-bedrooms support mark-to-market upon renovation. $340,060 of current NOI delivers a 6.30% going-in cap rate and 10.86 GRM, with a 6.74% pro forma cap rate per the OM.

755 E Pine Street, Altadena

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.