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637 W Altadena Drive, Altadena, California 91001, Altadena, 91001 - bed, bath

637 W Altadena Drive, Altadena, California 91001 home-pic-0
ACTIVE$1,215,000
637 W Altadena Drive, Altadena, California 91001
0Bed
0Bath
2,895Sqft
6,425Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
C2 Zoning & Versatility: Rare C2 zoning offers significant versatility and potential for future development or alternative uses beyond residential, enhancing long-term value.
Top Cons:
Age of Property & Potential Updates: Built in 1963, the property is over 60 years old, suggesting potential for older systems (plumbing, electrical) that may require significant capital expenditure for upgrades or deferred maintenance.

Compared to the nearby listings

Price:$1.22M vs avg $1.22M (+$0)50%
Size:2,895 sqft vs avg 2,500 sqft67%
Price/sqft:$420 vs avg $57033%

More Insights

Built in 1963 (62 years old).
Condition: Built in 1963, this triplex is 61 years old. While the exterior has been recently painted and 'other repairs' made, there is no mention or visual evidence of major interior renovations, especially for kitchens and bathrooms. The visible window AC units indicate an outdated cooling system. Given the age and lack of interior updates, it's highly probable that the kitchens and bathrooms are original or very dated, requiring substantial repairs and rehabilitation to meet modern standards. The property's age and lack of comprehensive updates align with the 'Poor' condition, indicating a need for significant investment beyond minor cosmetic fixes.
Year Built
1963
Close
-
List price
$1.22M
Original List price
$1.39M
Price/Sqft
$420
HOA
-
Days on market
-
Sold On
-
MLS number
P1-22636
Home ConditionPoor
Features
View-

About this home

Welcome to 637 W Altadena Drive--a rare C2-zoned triplex offering versatility and income potential in one of Altadena's most desirable areas. This two-story property, built in 1963, consists of three well-laid-out units: two 2-bed/1-bath units and one 1-bed/1-bath unit, totaling 2,887 sq ft of living space. All units have separate gas and electric meters. The exterior of the building was recently painted along with other repairs.Ideal for an investor, an owner-occupant seeking rental income, or a developer exploring future possibilities. The property features four covered carport spaces with overhead storage, a shared laundry room with sink and plumbing in place, and a large separate storage room.Conveniently located just south of the Altadena Meadows and Lavina Estates, this property is minutes from hiking trails, shopping, dining, parks, schools, and major freeways with easy access to Pasadena, the Rose Bowl, and Los Angeles.Current rents are below market with all tenants on month-to-month leases--offering strong upside potential.

Condition Rating
Poor
Built in 1963, this triplex is 61 years old. While the exterior has been recently painted and 'other repairs' made, there is no mention or visual evidence of major interior renovations, especially for kitchens and bathrooms. The visible window AC units indicate an outdated cooling system. Given the age and lack of interior updates, it's highly probable that the kitchens and bathrooms are original or very dated, requiring substantial repairs and rehabilitation to meet modern standards. The property's age and lack of comprehensive updates align with the 'Poor' condition, indicating a need for significant investment beyond minor cosmetic fixes.
Pros & Cons

Pros

C2 Zoning & Versatility: Rare C2 zoning offers significant versatility and potential for future development or alternative uses beyond residential, enhancing long-term value.
Income-Generating Triplex: As a triplex with three distinct units (two 2-bed/1-bath, one 1-bed/1-bath), it provides immediate income potential for investors or an owner-occupant seeking rental offset.
Significant Rental Upside: Current rents are below market with all tenants on month-to-month leases, offering a strong opportunity for a new owner to increase income immediately.
Separate Utilities: All units have separate gas and electric meters, simplifying expense management and tenant billing for the owner.
Desirable Altadena Location: Conveniently located in a desirable Altadena area, close to hiking trails, shopping, dining, parks, schools, and major freeways with easy access to Pasadena and Los Angeles.

Cons

Age of Property & Potential Updates: Built in 1963, the property is over 60 years old, suggesting potential for older systems (plumbing, electrical) that may require significant capital expenditure for upgrades or deferred maintenance.
Tenant Management & Turnover Risk: While month-to-month leases offer upside, they also present the immediate challenge of managing rent increases, which could lead to tenant turnover and temporary vacancies.
Limited Interior Condition Details: The description highlights exterior paint and common area amenities but lacks specific details on the interior condition of the units, potentially implying dated finishes or necessary renovations to achieve market rents.

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