Apartment Building Near
New
For Sale
$9,200,000
3239 Altura Avenue, La Crescenta, CA 91214
An elementary school is within a short walk of the property.
Property Size19,344 SF
Price / SF$475.60
Days on Market4
Property Features for 3239 Altura Avenue
General Information
Standard status
Active
Size
19,344 SF
Property subtype
Multi-family
Building Details
Year Built
1985
Listing Agency:
CBRE
Listed By:
Jenny Eng · License #01931251
(818) 907-4606
Source:
Sevengables
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
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Investment Insights
Based on property information with market context.
At 3239 Altura Avenue in La Crescenta, this apartment building contains 19,344 square feet and was built in 1985. An elementary school is located nearby.
Key Highlights
- 19,344‑square‑foot apartment building
- Built in 1985
- Elementary school within a short walk
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$311,260
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,225,200
$6.2M
Cap Rate 7%
$4,446,571
$4.4M
Cap Rate 9%
$3,458,444
$3.5M
Market Conditions
NOI Build-Up for 19,344 SF
Gross rent
$615.1K $31.80/SF
− Vacancy
−$49.2K −$2.54/SF
EGI
$565.9K $29.26/SF
− OpEx
−$254.7K −$13.17/SF
NOI
$311.3K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,225,200
Cap Rate 7%
$4,446,571
Cap Rate 9%
$3,458,444
Alternative Uses
Best Use
Apartment 5plus
$4.45M
$3.89M – $5.19M
NOI $311,260 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.36M
$9.06M – $12.08M
NOI $724,969 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 91214, CA
31,097
Population
11,092
Households
2.8
Avg Household Size
43
Median Age
59%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
4,260
Density / Sq Mi
$131,716
Median Household Income
$68,236
Median Earnings
$2,475
Median Rent
$1,088,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - An elementary school is within a short walk of the property.
Where is this apartment building located?
The property is located at 3239 Altura Avenue La Crescenta, CA.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: 19,344‑square‑foot apartment building; Built in 1985; Elementary school within a short walk
