2040 El Molino, Altadena, CA 91001

Property Description

Vacant corner lot two blocks from historic Christmas Tree Lane in one of Altadena's most sought-after neighborhoods. The site was previously improved with a two-story Spanish-style triplex had three distinct addresses (2040, 2042, and 2044 El Molino Avenue) and a 3-car garage, so multi-unit use has established precedent. In the original layout, the ground floor held two units, a one-bedroom and a two-bedroom, each with its own living room, dining room, kitchen, and bath, and one with private patio space. The upper level was a three-bedroom, two-bath unit with its own living and dining rooms, a covered front porch, and views of the San Gabriel Mountains. Each unit had its own garage, and the grounds included private outdoor areas and a shared rose garden. With two street frontages, the lot gives flexibility in access, orientation, and layout. Developers can pursue a new multi-unit project. End users can build a home with rental income or a multigenerational property with separate living spaces. Investors can choose between a custom single-family residence for resale or a multi-unit build for long-term income