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2191 El Sereno Ave 16 Unit Apartment Building $4,795,000 ($299,688/Unit) 4.22% Cap Rate Altadena, CA 91001
INVESTMENT HIGHLIGHTS
- 16-UNIT INVESTMENT OPPOTUNITY LOCATED IN ALTADENA
- UNIT MIX: 13 (STUDIOS), 2 (1+1), 1 (LOFT)
- RENOVATED IN 2018
- GATED ON-SITE PARKING
- IN-UNIT LAUNDRY, AIR CONDITIONING, NEW APPLIANCES
- 3 UNITS TO BE DELIVERED VACANT AT CLOSE OF ESCROW
EXECUTIVE SUMMARY
The Boyett Team at CBRE is pleased to present a rare opportunity to acquire 2191 El Sereno Ave, a well-maintained 16-unit apartment building, renovated in 2018. Ideally positioned between West Woodbury Road and Fair Oaks Avenue, this property is situated in the highly sought-after Altadena rental market—a prime location with strong tenant demand.
Spanning a 15,909-square-foot lot with 7,524 square feet of gross building area, the property features a highly desirable unit mix of thirteen (13) studios, two (2) one-bathroom units, and one (1) loft unit, offering significant rental income potential. Residents enjoy access to premium amenities, including a gated common
area, in-unit laundry, and 16 gated parking spots.
Originally constructed in 1923 and thoughtfully renovated in 2018, 2191 El Sereno Ave seamlessly blends historic charm with modern convenience. With three units currently vacant, the property offers immediate upside for investors seeking to capitalize on Altadena’s strong rental demand. These vacancies present a rare chance to implement market-rate leasing strategies and maximize cash flow from day one. Whether you’re expanding your portfolio or entering a high-performing submarket, this asset delivers a turnkey investment opportunity with long-term growth potential.
Spanning a 15,909-square-foot lot with 7,524 square feet of gross building area, the property features a highly desirable unit mix of thirteen (13) studios, two (2) one-bathroom units, and one (1) loft unit, offering significant rental income potential. Residents enjoy access to premium amenities, including a gated common
area, in-unit laundry, and 16 gated parking spots.
Originally constructed in 1923 and thoughtfully renovated in 2018, 2191 El Sereno Ave seamlessly blends historic charm with modern convenience. With three units currently vacant, the property offers immediate upside for investors seeking to capitalize on Altadena’s strong rental demand. These vacancies present a rare chance to implement market-rate leasing strategies and maximize cash flow from day one. Whether you’re expanding your portfolio or entering a high-performing submarket, this asset delivers a turnkey investment opportunity with long-term growth potential.
PROPERTY FACTS
| Price | $4,795,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,688 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 4.22% | Building Size | 11,538 SF |
| Gross Rent Multiplier | 13.75 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Zoning | R175, L.A. County - LCR175 | ||
| Price | $4,795,000 |
| Price Per Unit | $299,688 |
| Sale Type | Investment |
| Cap Rate | 4.22% |
| Gross Rent Multiplier | 13.75 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.37 AC |
| Building Size | 11,538 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | R175, L.A. County - LCR175 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Tile Floors
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Patio
- Skylights
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Property Manager on Site
- Gated
- Community-Wide WiFi
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | - | 450 - 600 |
| 1+1 | 3 | - | 700 - 800 |
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 5835-020-011 | Improvements Assessment | $952,022 |
| Land Assessment | $1,183,794 | Total Assessment | $2,135,816 |
PROPERTY TAXES
Parcel Number
5835-020-011
Land Assessment
$1,183,794
Improvements Assessment
$952,022
Total Assessment
$2,135,816
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2191 El Sereno Ave
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