$5,000,000
451 Sacramento Street, Altadena 91001
1
Bed
1
Bath
32,262
Lot Size
8
# Of Units
Listing Agent
Robert Stepp - Keller Williams - Santa MonicaBuilt in 1924, 451 E. Sacramento Street offers an investor the opportunity to acquire an 8-unit asset on an over 30,000-square-foot lot in Altadena, California. The property is comprised of (8) 1BD/1BA + Den units with over $540,000 spent on capital improvements, including new plumbing, roofing and electrical ugrades already completed. Current ownership has received approval from the City allowing the lot to be subdivided into three (3) separate parcels with the ability to build eight (8) new ADUs across the parcels, for additional rental revenue of approximately $386,400 annually. With the construction of the ADUs, the property can be stabilized at a 11.85% cap rate and 6.98 GRM. Resident utility billing (RUBS) has been implemented across the property to lower operational expenses. The property is Mills Act eligible, allowing new ownership the opportunity for significant tax savings*. 451 E. Sacramento Street offers an assumable Freddie Mac loan of $1,646,000 at 5.25% with 5 years of interest only payments remaining.
Facts & Features
MLS® # | PW23179341 |
---|---|
Price | $5,000,000 |
Bedrooms | 1 |
Bathrooms | 1.00 |
Lot Size | 32,262 |
Year Built | 1924 |
Type | Residential Income |
Sub-Type | Mixed Use |
Status | Active |
# Of Units | 8 |
Community Information
Address | 451 Sacramento Street |
---|---|
Area | 604 - Altadena |
City | Altadena |
County | Los Angeles |
Zip Code | 91001 |
Amenities
Parking Spaces | 20 |
---|---|
# of Garages | 12 |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Has Basement | No |
---|---|
Fireplace | No |
# of Stories | 1 |
Exterior
Lot Description | 6-10 Units/Acre |
---|
Additional Information
Date Listed | September 29th, 2023 |
---|---|
Days on Market | 230 |
Zoning | LCR110 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Robert Stepp |
---|---|
Office | Keller Williams - Santa Monica |