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

February 16, 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 2/16/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 6:20 AM UTC

 

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