451 Sacramento Street

Altadena, CA 91001

$5,000,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $1,021 / sqft

1924

calendar_month Built

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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 451 Sacramento Street
City Altadena
State CA
Zip 91001
County Los Angeles
Listing Agent Robert Stepp DRE#01456379
Courtesy Of Keller Williams - Santa Monica
MLS PW23179341
List Price $5,000,000
Status Active
Type Residential Income
Subtype Commercial/Residential
Structure Size N/A
Lot Size 32,262
Year Built 1924
DOM 81

Exterior Information

Maps

Listing information courtesy of: Robert Stepp, Keller Williams - Santa Monica . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 18th, 2023 at 2:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.