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Altadena

Altadena is an established foothill community located north of Pasadena, known for its residential character, architectural diversity and proximity to the San Gabriel Mountains. The market is predominantly owner-occupied, with a comparatively limited supply of duplexes, small apartment buildings and other multifamily properties. Residents benefit from access to Pasadena’s employment centers, educational institutions, healthcare facilities, shopping and cultural amenities while enjoying a quieter neighborhood environment. The January 2025 Eaton Fire caused extensive property loss and displacement throughout Altadena, making recovery and rebuilding central to the community’s current housing landscape. As reconstruction progresses, the market’s long-term direction will be shaped by the replacement of lost housing, evolving development standards and continued demand for homes near Pasadena and the western San Gabriel Valley. For multifamily owners and investors, Altadena offers a specialized market where limited rental inventory, neighborhood character and rebuilding activity must all be carefully considered.

MARKET OVERVIEW

Source: CoStar | Altadena Multifamily | 2025

Units Sold

42

Rent Growth (YoY)

1.4%

Average Cap Rate

5.1%

Vacancy Rate

11.9%

Average Price Per Unit

$193,171

Average Rent

$2,489

Average Sale Price

$2M

Total Transactions

4

EMPLOYMENT DRIVERS

Altadena benefits from its proximity to Pasadena’s diverse employment base, including Caltech, JPL and a growing concentration of technology, bioscience, healthcare and educational institutions. Additional employment is supported by professional services, hospitality and local businesses throughout the western San Gabriel Valley, providing residents with access to jobs across several major industries.

TENANT PROFILE

Altadena has a smaller renter population than many Los Angeles submarkets, reflecting its predominantly owner-occupied housing base. Renters are drawn to the community’s lower-density setting, proximity to Pasadena and access to the San Gabriel Mountains. The 2025 Eaton Fire displaced many households, adding pressure to Altadena’s limited rental inventory and nearby housing markets as recovery continues.

Own Multifamily Property in Altadena?

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Contact

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818-212-2735

Marcus & Millichap

16830 Ventura Blvd #100

Encino, CA 91346

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License

#01772495

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