Active
451 E Sacramento Street
Altadena CA, 91001
$5,000,000
$1,021.24 per sqft
Active
4,896 sqft
Multi-family
Built in 1924
Listed by Robert Stepp with Keller Williams - Santa Monica 310-482-2200
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.
PW23179341
MLSⓇ ID
September 29, 2023
Listed
March 23, 2024
Updated
Map
451 E Sacramento Street
Altadena CA, 91001
Interior Features
Total Stories
1
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.74 Acres
Lot Features
6-10 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
604 - Altadena
Days on Market
80
Garage
Yes
Garage Spaces
12
Parking Total
20
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LCR110
Buyer Agency Compensation
2%
Listing Contact: 310-482-2200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:25 AM UTC