451 E Sacramento Street, Altadena, Los Angeles, CA, ResidentialIncome, ,

$ 5,000,000
451 E Sacramento Street,

Overview

  • Updated On:
  • November 26, 2023

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.

Address: 451 E Sacramento Street
City:
State/County:
Zip: 91001
Country: United States
Open In Google Maps
$ 25,635.99
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 19,385.99
Mon 04 Mar
Tue 05 Mar
Wed 06 Mar
Thu 07 Mar
Fri 08 Mar
Sat 09 Mar
Sun 10 Mar
Mon 11 Mar
Tue 12 Mar
Wed 13 Mar
In Person
Video Chat
Your information

Property Reviews

You need to login in order to post a review

Similar Listings

$ 4,350,000

2548 El Molino Avenue, Altadena, Los Angeles...

2548 El Molino Avenue is a 10-unit asset located in Altadena, California. Current ownershi ...
Lot Size
0.36 ft2

Compare Listings

David Clark