2191 El Sereno Ave
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2191 El Sereno Ave
16 Unit Apartment Building $6,495,000 ($405,938/Unit) 4.66% Cap Rate Altadena, CA 91001
Investment Highlights
- Rare investment opportunity to own a non-conforming 16-unit building with 13 studios, two one-bed units, and a unique two-story loft.
- Restored 1923 Spanish architecture building with new electrical, plumbing, foundation, Milgard double-pane windows, and Santa Barbara smooth stucco.
- White oak flooring, solid wood cabinets, in-unit washer/dryer, tankless water heater, mini-split HVAC system, and renovated bath in each unit.
- Tenants enjoy modern community amenities like gated, designated parking, a shared patio with Italian lighting, and bike storage.
- Indulge in the Altadena experience of living in a residential neighborhood, a short drive from shops, restaurants, Loma Alta Park, and Eaton Canyon.
- 2191 El Sereno Avenue is convenient to the 210 Freeway that grants access to many Southern California communities and beyond.
Executive Summary
2191 El Sereno Avenue is a rare opportunity to acquire a fully remodeled, two-story, 16-unit apartment building in the highly desirable neighborhood of Altadena. This gated property, originally built in 1923, has been meticulously updated, preserving its architectural charm while seamlessly blending historic elegance with modern conveniences.
The unit mix comprises 13 studios, two one-bedroom/one-bath units, and a two-story one-bedroom/one-bath loft. The building features newer electrical and plumbing systems, a Santa Barbara smooth coat stucco finish, and Milgard double-pane solid wood windows. Each unit boasts white oak floors, solid wood kitchen cabinets, walk-in closets, fire-rated front doors, in-unit laundry, tankless water heaters, mini-split HVAC systems, and subway-tiled bathrooms with clawfoot tubs. Residents enjoy designated parking spots, and every unit is individually metered for all utilities, including water. A spacious patio area outfitted with lounge chairs, Italian lighting, and a bike rack creates an inviting space for relaxing.
Nestled at the foothills of the San Gabriel Mountains, this attractive multifamily asset is in a sought-after Altadena location. 2191 El Sereno Avenue is close to popular local spots such as Homestate, Stumptown Coffee, Perry's Joint, and Loma Alta Park. The 210 freeway is a mile away for residents traveling into the neighboring communities of Pasadena, Glendale, and Downtown Los Angeles. Altadena’s blend of natural beauty and proximity to the mountains and the city, in addition to the property's charm, makes this trophy asset the perfect addition to any portfolio.
The unit mix comprises 13 studios, two one-bedroom/one-bath units, and a two-story one-bedroom/one-bath loft. The building features newer electrical and plumbing systems, a Santa Barbara smooth coat stucco finish, and Milgard double-pane solid wood windows. Each unit boasts white oak floors, solid wood kitchen cabinets, walk-in closets, fire-rated front doors, in-unit laundry, tankless water heaters, mini-split HVAC systems, and subway-tiled bathrooms with clawfoot tubs. Residents enjoy designated parking spots, and every unit is individually metered for all utilities, including water. A spacious patio area outfitted with lounge chairs, Italian lighting, and a bike rack creates an inviting space for relaxing.
Nestled at the foothills of the San Gabriel Mountains, this attractive multifamily asset is in a sought-after Altadena location. 2191 El Sereno Avenue is close to popular local spots such as Homestate, Stumptown Coffee, Perry's Joint, and Loma Alta Park. The 210 freeway is a mile away for residents traveling into the neighboring communities of Pasadena, Glendale, and Downtown Los Angeles. Altadena’s blend of natural beauty and proximity to the mountains and the city, in addition to the property's charm, makes this trophy asset the perfect addition to any portfolio.
Sale Flyer
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Tile Floors
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Patio
- Skylights
Site Amenities
- Controlled Access
- Property Manager on Site
- Gated
- Community-Wide WiFi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | $1,800 | 450 - 600 |
| 1+1 | 3 | $2,100 | 700 - 800 |
Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (71)
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| KFC | - | - | 6 min walk |
| Taco Bell | Fast Food | - | 6 min walk |
| Panda Express | - | - | 9 min walk |
| McDonald's | - | - | 10 min walk |
| Subway | - | - | 9 min walk |
| Perrys Joint Cafe | American | $ | 11 min walk |
| Pizza Of Venice | - | - | 12 min walk |
| Tacos Don Pillo | - | - | 11 min walk |
| Kings Breakfast & Burgers | - | - | 14 min walk |
| My Place Cafe | Cafe | $ | 14 min walk |
Retail |
||
|---|---|---|
| am/pm | Convenience Market | 3 min walk |
| 24 Hour Fitness | Fitness | 9 min walk |
| Super King Markets | Supermarket | 10 min walk |
| First City Credit Union | Bank | 12 min walk |
| Ace Hardware | Hardware | 12 min walk |
Hotels |
|
|---|---|
| Courtyard |
314 rooms
8 min drive
|
| Westin |
350 rooms
8 min drive
|
| Hyatt Place |
189 rooms
8 min drive
|
PROPERTY TAXES
| Parcel Number | 5835-020-011 | Improvements Assessment | $933,355 |
| Land Assessment | $1,160,583 | Total Assessment | $2,093,938 |
PROPERTY TAXES
Parcel Number
5835-020-011
Land Assessment
$1,160,583
Improvements Assessment
$933,355
Total Assessment
$2,093,938
zoning
| Zoning Code | R175, L.A. County (LCR175) |
| R175, L.A. County (LCR175) |
Sale Advisor
Sale Advisor
Lotoya Bailey, Realtor
(323) 599-0089
Contact
I'm an expert real estate agent with Nourmand & Associates-HW in LOS ANGELES, CA and the nearby area, providing home-buyers and sellers with professional, responsive and attentive real estate services. Want an agent who'll really listen to what you want in a home? Need an agent who knows how to effectively market your home so it sells? Give me a call! I'm eager to help and would love to talk to you.
-
Lotoya Bailey -
Nourmand & Associates
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2191 El Sereno Ave
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