We just listed a five-unit apartment building comprised of five one bedroom, one bath units in at 917 E Mendocino St Altadena. It’s situated in one of Altadena’s most desirable neighborhoods, ½ mile from Altadena Town and Country Club. Located in close proximity to shopping, dining, and transportation. Although not subject to rent control, most rents are extremely low due to long-term tenants. And range from $550 to $1150. Original charm is intact, and hardwood floors are believed to be under carpet—four single-car garages.
Selling multi-family real estate differs from residential. Two weeks ago, I contacted each tenant by telephone, advising them I was listing the apartment building for sale. I scheduled a professional measurer and photographer to come during a two-hour window. I phoned the tenants again and provided them with nearly a week’s notice, and then followed up with Notice of Entry giving them another 24-hour notice. Sadly, renters have little security.
