19-Unit Apartment
For Sale
$5,595,000
755 E Pine Street, Altadena, CA 91001
Garden-style multifamily property with a diversified unit mix, on-site amenities, and convenient access to Pasadena employment centers.
Property Size13,682 SF
Lot Size0.51 Acres
Price / SF$408.93
Days on Market293
Property Features for 755 E Pine Street
General Information
Standard status
Active
Size
13,682 SF
Lot size
0.51 Acres
Property subtype
Multi-family
Units
Unit Mix
2 x studio, 10 x 1BR/1BA, 7 x 2BR/1BA
Multifamily Units
19
Additional Details
Cap Rate
5.76%
Public Transit
Yes
Amenities
pool
on site laundry
Building Details
Year Built
1958
Construction
garden-style
Listing Agency:
Marcus & Millichap
(818) 212-2808
Listed By:
Filip Niculete · License #01962976
(714) 497-3550
Source:
Sevengables
Added: Nov 10, 2025
Changed: Aug 30
Last Checked: Jul 18 at 4:26AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This 19-unit apartment community was built in 1958 and occupies approximately ±0.51 acres with ±13,682 square feet of improvements. The residential mix includes two studios, ten one-bedroom/one-bath units, and seven two-bedroom/one-bath units. Ten units are vacant, creating an existing repositioning and lease-up component within the current operating profile. Reported property features include a swimming pool, on-site laundry, and gated parking.
The property is located in Altadena, immediately north of Pasadena in Los Angeles County, at the base of the San Gabriel Mountains. The surrounding area provides access to Pasadena’s employment and institutional base, including Caltech and NASA’s Jet Propulsion Laboratory. Old Town Pasadena, nearby transit stops, Eaton Canyon, and the San Gabriel Mountains are also identified as nearby amenities and destinations.
The property is located in Altadena, immediately north of Pasadena in Los Angeles County, at the base of the San Gabriel Mountains. The surrounding area provides access to Pasadena’s employment and institutional base, including Caltech and NASA’s Jet Propulsion Laboratory. Old Town Pasadena, nearby transit stops, Eaton Canyon, and the San Gabriel Mountains are also identified as nearby amenities and destinations.
Key Highlights
- 19‑unit apartment community with ±13,682 square feet on a ±0.51‑acre parcel
- Unit mix includes 2 studios, 10 1BR/1BA units, and 7 2BR/1BA units
- 10 units are currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$220,154
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,403,080
$4.4M
Cap Rate 7%
$3,145,057
$3.1M
Cap Rate 9%
$2,446,156
$2.4M
Market Conditions
NOI Build-Up for 13,682 SF
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.
Gross rent
$435.1K $31.80/SF
− Vacancy
−$34.8K −$2.54/SF
EGI
$400.3K $29.26/SF
− OpEx
−$180.1K −$13.17/SF
NOI
$220.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,403,080
Cap Rate 7%
$3,145,057
Cap Rate 9%
$2,446,156
Alternative Uses
Best Use
Apartment 5plus
$3.15M
$2.75M – $3.67M
NOI $220,154 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.33M
$6.41M – $8.55M
NOI $512,770 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19
Residential units
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 91001, CA
36,578
Population
13,335
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
4,407
Density / Sq Mi
$133,840
Median Household Income
$64,449
Median Earnings
$2,298
Median Rent
$1,085,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style multifamily property with a diversified unit mix, on-site amenities, and convenient access to Pasadena employment centers.
Where is this apartment building located?
The property is located at 755 E Pine Street Altadena, CA.
What is the asking price?
The asking price for this property is $5,595,000.
What are key features of this property?
This property features: 19‑unit apartment community with ±13,682 square feet on a ±0.51‑acre parcel; Unit mix includes 2 studios, 10 1BR/1BA units, and 7 2BR/1BA units; 10 units are currently vacant
