451 E Sacramento Street, Altadena, CA 91001

  • $5,000,000
  • $1,021
451 E Sacramento Street, Altadena, CA 91001
  • Residential Income
  • Property Type
  • 12.00
  • Garages
  • 1924
  • Year Built
For Sale
451 E Sacramento Street, Altadena, CA 91001
  • $5,000,000
  • $1,021

Overview

Property ID: SGR-14403513
  • Residential Income
  • Property Type
  • 12.00
  • Garages
  • 1924
  • Year Built

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.

  • Address 451 E Sacramento Street
  • City Altadena
  • State/county CA
  • Zip/Postal Code 91001
  • Area 604 - Altadena
  • Country United States

Details

Updated on December 19, 2023 at 2:28 am
  • Property ID: SGR-14403513
  • Price: $5,000,000
  • Land Area: 32262.00 m²
  • Garages: 12.00
  • Year Built: 1924
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 4896.00
  • MLS#: PW23179341
  • Office Name: KELLER WILLIAMS - SANTA MONICA
  • Agent Name: Robert Stepp
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Agent State License: 01456379
  • IDX Contact Info: 310-463-2916

Additional details

  • Sewer: Public Sewer
  • County: Los Angeles
  • Property SubType: Commercial/Residential
  • Parking: 20.00
  • Water Source: Public

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