C2-Zoned Triplex With Covered
637 W Altadena Dr Altadena, CA 91001
For Sale
$1,095,000
Pending
Three-unit, two-story triplex with separate utilities, covered carports, and month-to-month tenancy for flexible ownership.
Property Size2,887 SF
Days on Market54
Property Features for 637 W Altadena Dr
General Information
Standard status
Pending
Size
2,887 SF
Property subtype
Investment
Building Details
Year Built
1963
Listing Agency:
(702) 509-1443
Listed By:
Allan Murrell
(702) 509-1443
Source:
Elliman
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 23 at 4:04AM
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 Allan Murrell
Investment Insights
Based on property information with market context.
This two-story triplex, built in 1963, offers three separate residential units: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each unit has its own separate gas and electric meters. The exterior has been recently painted, and other repairs have been completed. The property also includes a shared laundry room with a sink and plumbing in place, four covered carport spaces with overhead storage, and a large separate storage room.
Situated just south of the Altadena Meadows and Lavina Estates, the location provides convenient access to hiking trails, shopping, dining, parks, schools, and major freeways. The remarks note easy access to Pasadena, the Rose Bowl, and Los Angeles.
The layout and separate metering support a straightforward income setup, while the mix of unit sizes can appeal to both tenant needs and owner-occupants. Tenants are currently on month-to-month leases, and the current rents are described as below market, which may allow for more flexible future rent management as leases renew. The C2 zoning adds versatility for an investor, an owner-occupant, or a buyer evaluating longer-term development or repositioning options.
Situated just south of the Altadena Meadows and Lavina Estates, the location provides convenient access to hiking trails, shopping, dining, parks, schools, and major freeways. The remarks note easy access to Pasadena, the Rose Bowl, and Los Angeles.
The layout and separate metering support a straightforward income setup, while the mix of unit sizes can appeal to both tenant needs and owner-occupants. Tenants are currently on month-to-month leases, and the current rents are described as below market, which may allow for more flexible future rent management as leases renew. The C2 zoning adds versatility for an investor, an owner-occupant, or a buyer evaluating longer-term development or repositioning options.
Key Highlights
- C2‑zoned two‑story triplex built in 1963 with 3 units and 2,887 sq ft of living space
- Unit mix: two 2‑bed/1‑bath units and one 1‑bed/1‑bath unit
- Each unit has separate gas and electric meters
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.9k | $27.00 |
| − Vacancy | −$5.9k | −$2.05 |
| EGI | $72.0k | $24.95 |
| − OpEx | −$21.6k | −$7.48 |
| NOI | $50.4k | $17.46 |
2,887 SF · lease $27.00/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$720.2K
$630.2K – $840.3K
NOI $50,417 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$663.6K
$580.7K – $774.2K
NOI $46,454 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.55M
$1.35M – $1.80M
NOI $108,198 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit, two-story triplex with separate utilities, covered carports, and month-to-month tenancy for flexible ownership.
Where is this triplex located?
The property is located at 637 W Altadena Dr Altadena, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: C2‑zoned two‑story triplex built in 1963 with 3 units and 2,887 sq ft of living space; Unit mix: two 2‑bed/1‑bath units and one 1‑bed/1‑bath unit; Each unit has separate gas and electric meters
