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Property profile & analytics
OFF-MARKET
Estimated value
$4,220,000
Apartment buildings
2624 Lk Ave Altadena, CA 91001-1971
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6432995
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1948
Construction
TILT-UP CONCRETE
Total area
11,374 SF
Lot
0.57 ac (24,945 SF)
Zoning code
LCR3VV
APN
5844-001-010
UPID
US09-6432995
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.03M
CAP Approach
CAP
$2.82M
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$4.22M
Owner & transaction history
Wang Derive Investment LLC · 3 yrs held
Wang Derive Investment LLC
since 2022
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
LCR3VV · Altadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.9M
+130.7%
Auto repair, garage
$5.3M
+75.3%
Medical building
$5.2M
+72.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Altadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altadena submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,135,000
ML approach
$4,025,000
CAP Approach
CAP Return
Estimation
6%
$3,050,000
6.5%
$2,815,000
7%
$2,615,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,000,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,920,000
Change: +131% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,260,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$5,170,000
Change: +72% · Conversion: Moderate
OFFICE BUILDING
$5,100,000
Change: +70% · Conversion: Moderate
RETAIL STORES
$3,885,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,515,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$4.22M
Range $3.80M – $4.64M · ±10% · vs last sale $5.00M (Jul 20 2022)
Last sale anchor
$5.00M
Jul 20 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$371 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$63,106
Tax year 2024
Assessed value
$5,097,960
Assessed 2024
Previous assessed
$5,097,960
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$3,570,000
Assessed improvement
$1,527,960
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1948
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Units
16
Bathrooms
1
Total area
11,374 SF
Lot
0.57 ac (24,945 SF)
Zoning code
LCR3VV
APN
5844-001-010
UPID
US09-6432995
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LCR3VV · Altadena, CA
Zoning LCR3VV · permitted uses
LCR3VV · Altadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Altadena. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.9M
AUTO REPAIR, GARAGE
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$5.2M
OFFICE BUILDING
Est. value
$5.1M
RETAIL STORES
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1948
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Buildings
3
Units
16
Bathrooms
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Wang Derive Investment LLC
Entity
Mailing address
5100 TRIGGS ST, COMMERCE, CA 90022-4834
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2025
—
Wang Derive In Vestment LLC
—
Deed
related
$2,000,000 · United States Small Business Admin
Jul 20, 2022
$4,998,000
Wang Derive Investment LLC
Scott D Greenwood
Grant Deed
$3,000,000 · Ctbc Bank Corp USA
Feb 15, 2019
—
Scott D Greenwood
—
Deed
related
$1,400,000 · Jpmorgan Chase Bank NA
Dec 3, 2012
—
Scott D Greenwood
Scott D Greenwood
Intrafamily Transfer
related
$1,600,000 · Jpmorgan Chase Bank NA
Jun 18, 2012
—
Greenwood Family Trust
Greenwood,scott
Quit Claim Deed
related
—
Nov 3, 2000
—
Scott D Greenwood
Lewis,t C
Quit Claim Deed
related
—
May 23, 1997
$650,000
Greenwood,scott D
Fancher Trust
Trustees Deed
$487,500 · American Savings Bank
May 23, 1997
—
Fancher,alma M Trustee
Web Serv,
Quit Claim Deed
related
—
—
—
Scott D Greenwood
—
Deed Of Trust
related
$580,000 · First Federal Bank Ca
—
—
Scott D Greenwood
—
Deed Of Trust
related
$585,000 · Impac Multifamily Capital Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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