917 E Mendocino St Altadena: We just listed a five-unit apartment building comprised of five one-bedroom, one bath units in at 917 E Mendocino St Altadena. This property features five one-bedroom, one-bath units and is situated in one of the area’s most desirable neighborhoods. Even better, it’s just half a mile from the Altadena Town and Country Club. The location is perfect—close to shopping, dining, and public transportation.
Although not subject to rent control, the current rents remain extremely low due to long-term tenants. They range from $550 to $1,150, well below market value. This presents an incredible opportunity for potential investors. The building maintains its original charm, and hardwood floors are believed to be preserved beneath the carpeting. Additionally, the property includes four single-car garages, offering convenience and added value.
Managing the Sale Process:
Selling multi-family properties differs significantly from residential real estate. Two weeks ago, I took the first step. I contacted each tenant by phone, letting them know the apartment building was going on the market. I made sure they were informed early.
Next, I scheduled a professional measurer and photographer. I set up a two-hour window for access, ensuring minimal disruption. Afterward, I reached out to the tenants again, giving them nearly a week’s notice before the appointment. I wanted to keep communication clear and respectful.
Then, I followed up with a Notice of Entry, providing an additional 24-hour notice. I made sure everything was handled professionally and by the book. However, it’s a stark reminder of the limited security renters have during these transitions. Despite the challenges, I remain committed to a smooth and respectful process for everyone involved.
