Very close to the successful city of Pasadena, Altadena is gaining a well-deserved respect that is reflected in its home values.
With the region northeast of downtown Los Angeles the westernmost area of what is called the San Gabriel Valley, neighborhoods and entire cities are on the rise. Nowhere is this clearer today than in Altadena, CA. Homes in Altadena are being restored to their original shine and Altadena real estate is through the roof when it comes to home values.
A friend of mine owned one of those 1920s storybook Mediterranean style houses with a red tile roof in Altadena. It was on top of a mound and nestled among mature trees. Rainbow colored bougainvillea vines spilled from the rooftop. Sitting in the breakfast nook, one could marvel at the San Gabriel mountain range from its French windows. The house had plaster walls that formed a curve in the ceiling. The floors were built with large planks of wood, giving the place a sort of Greek island art studio feel. An idyllic setting for those looking to get away from it all, the Altadena neighborhood is located just north of its large sister city, Pasadena.
Just being close to beautiful Pasadena, famous for the Rose Parade, has never been enough to create the real estate buzz Altadena has craved until now. After all, homes for sale in Pasadena have always been in high demand and the Pasadena real estate market is always booming. Now it’s Altadena’s turn and home sellers are in a daze while buyers are gnashing their teeth for waiting too long to get into the Altadena real estate market.
John and Fred Woodbury opened the first subdivision and named it Altadena in 1887. Recognizing the breathtaking scenic beauty of the foothills below the Angeles Crest Range, eastern millionaires erected the first mansions along Mariposa Street. This became known as millionaire’s row. Now fast forward to the civil rights era, a generation later. When public schools were desegregated, a phenomenon known as “White Flight” occurred in this once desirable location. The Caucasians withdrew and headed for the West Side and the African American population doubled overnight. Unfortunately, the properties fell into disrepair and the area became a much less desirable neighborhood than it is today.
Thirty years later, the gentrification of Northeast Los Angeles began to take shape. Dilapidated and abandoned houses were bought cheap and renovated, then flipped over. Northeast Los Angeles became a prime target for real estate investors and buyers of modest means looking for their first home.
Before long, the community was thriving once again and enhanced the curb appeal of these older neighborhoods. The ongoing restoration movement in Altadena, which began in the 1990s, has helped increase property values. As things settle down and the area becomes more attractive and expensive, the buyer naturally becomes more discerning and sophisticated. Like it or not, right or wrong, the rich get richer, and those of lower socioeconomic status are often pushed out. Some call it gentrification. Some call it progress. Once considered a common working-class neighborhood, Altadena now has a private country club with tennis courts and swimming pools. A striking contrast to what was “the other side of the tracks” during the 1980s.
For foodies with a sweet tooth and a taste for authentic Italian gelato, take a stroll down East Altadena Drive and find Leo Bulgarini’s ice cream parlor. The Rome-born former sommelier chose this hotspot to open his gourmet gelateria and that says it all. The new generation of “Hipsteropolis” bars is also coming to this side of town. If you have a good palette and are craving some fine French wine, the Altadena Ale and Wine House is just around the corner. These specialty stores cater to the elite, which of course is a good sign that the Altadena community is definitely on the rise.
You can still find a single-family home in this glorious horse country for under half a million. In California’s booming real estate market, that’s unheard of. It won’t be long before the middle class is affected by price, so it’s time for homebuyers to make their move. Start by hiring a real estate agent who specializes in the area and has proven success helping buyers and sellers alike in Altadena.