Active
451 E Sacramento ST
ALTADENA CA, 91001
$5,000,000
$1,021.24 per sqft
Active
1 Bed
1 Bath
4,896 sqft
Multi-family
Built in 1924
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.
PW23179341MR
MLSⓇ ID
September 29, 2023
Listed
September 13, 2024
Updated
Map
451 E Sacramento ST
ALTADENA CA, 91001
Interior Features
Total Stories
1
Bedrooms
1
Total Bathrooms
1
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.74 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Altadena
Days on Market
336
Garage
Yes
Garage Spaces
12
Parking Total
20
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LCR110
Listed by Robert Stepp with Keller Williams - Santa Monica
Listing Contact: 310-774-3740
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©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/13/2024