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    Property profile & analytics

    2191 El Sereno Ave Altadena, CA 91001-5642

    • Apartment buildings
    • 7,524 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Oct 16, 2024
    $1,775,000
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    6.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-8462304
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2191 El Sereno Ave

    Year built
    1923
    Construction
    WOOD
    Lot size
    0.37 lot acres
    Property size
    7,524 SF
    Zone code
    LCR175
    Property type
    Apartment buildings
    APN
    5835-020-011
    APU
    5835020011

    Description

    This exceptional 16-unit apartment building presents a rare investment opportunity in the highly sought-after Altadena, CA neighborhood. Situated on a 0.37-acre lot at 2191 El Sereno Avenue, this fully remodeled property boasts 7,280 square feet of living space. Originally constructed in 1923, the building has been meticulously updated, seamlessly blending its historical charm with modern amenities. The unit mix includes thirteen studios, two one-bedroom/one-bathroom units, and one unique two-story one-bedroom/one-bathroom loft. Significant upgrades include new electrical and plumbing systems, a stunning Santa Barbara smooth coat stucco exterior, and Milgard double-pane solid wood windows throughout. Each unit features high-end finishes such as white oak floors, solid wood kitchen cabinets, walk-in closets, fire-rated front doors, in-unit laundry, tankless water heaters, and energy-efficient mini-split systems. Bathrooms are elegantly appointed with subway tile and clawfoot tubs. Residents enjoy designated parking and individual utility metering for water and all other utilities. A spacious patio area, complete with lounge chairs, Italian lighting, and a bike rack, provides a welcoming common space. The building's prime location offers convenient access to popular local establishments such as Homestate, Stumptown Coffee, Perry's Joint, and Loma Alta Park. This turnkey property represents a compelling investment opportunity for discerning buyers seeking a high-quality, income-producing asset in a desirable location. The asking price is $6,495,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,775,000
      ML approach
      $1,775,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,020,000
      6.5%
      $1,865,000
      7%
      $1,730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,871,000
      Market price range: $1.07M - $2.87M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Altadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.153
    Latitude
    34.1834
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $29,837
    $1,160,583
    $948,455
    $2,109,038
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $325,000
      5,912 SF

      2058 Lk Ave, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 5,912 SF
      2058 Lk Ave, Altadena, CA 91001-2439
      View Details
    • Value Estimation by Request
      4,416 SF

      708 Palm St

      APARTMENT HOUSE (5+ UNITS) • 4,416 SF
      708 Palm St, Altadena, CA 91001-1916
      View Details
    • Value Estimation
      $415,000
      14,256 SF

      716 Pne St

      APARTMENT HOUSE (5+ UNITS) • 14,256 SF
      716 Pne St, Altadena, CA 91001-1942
      View Details
    • Value Estimation
      $370,000
      5,491 SF

      1915 Minoru Dr

      APARTMENT HOUSE (5+ UNITS) • 5,491 SF
      1915 Minoru Dr, Altadena, CA 91001-3458
      View Details
    • Value Estimation
      $345,000
      5,531 SF

      921 New York Dr

      APARTMENT HOUSE (5+ UNITS) • 5,531 SF
      921 New York Dr, Altadena, CA 91001-3166
      View Details
    • Value Estimation
      $465,000
      13,682 SF

      755 Pne St

      APARTMENT HOUSE (5+ UNITS) • 13,682 SF
      755 Pne St, Altadena, CA 91001-1954
      View Details

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    Similar Nearby for Lease

    • $2,000 /Mo

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      View Details
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      Altadena Business Park Flex Space

      Well-maintained flex space near JPL with easy freeway access.
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      1,000 SF

      Altadena Retail/Office Space Available

      Office and retail space for rent in Altadena, CA.
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      View Details
    • $2,400 /Mo
      822 SF

      Altadena Condo in Gated Complex

      Townhouse-style condo with updated kitchen, in-unit laundry, and community pool.
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      35,640 SF

      Altadena Warehouse with Private Yard

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    • Contact for pricing
      35,962 SF

      Altadena Commercial Land For Lease

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    2191 El Sereno Ave
    Altadena, CA 91001-5642
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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