451 Sacramento Street, Altadena, CA 91001
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Listed Price :
$5,000,000
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Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1924
Property Description
Built 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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
451 Sacramento Street |
| City |
Altadena |
| State |
CA |
| Zip |
91001 |
| County |
Los Angeles |
| Listing Agent |
Robert Stepp DRE #01456379 |
| Courtesy Of |
Keller Williams - Santa Monica |
| List Price |
$5,000,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Commercial/Residential |
| Structure Size |
N/A |
| Lot Size |
32,262 |
| Year Built |
1924 |
Listing information courtesy of: Robert Stepp, Keller Williams - Santa Monica. *Based on information from the Association of REALTORS/Multiple Listing as of May 23rd, 2024 at 3:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
