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Altadena, CA 91001 451 E Sacramento Street

$5,000,000

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Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
  • MLS# PW23179341
  • 09/29/2023
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  • BedBeds • 8
  • BathBaths • 1
  • FootageSQFT • 4,896
  • GarageGarage • 12

Home Details

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.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916

Interior Features for 451 E Sacramento Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Street SuffixStreet
Total Stories1

Other Rooms

Entry Level1

General for 451 E Sacramento Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.48
Carport Y/NNo
CityAltadena
Community FeaturesMountainous
CountyLos Angeles
Days on Market80
DirectionsE Woodbury Rd
Electric Expense295.5
Entry Location1
Fuel Expense295.5
Garage Spaces12.0
Garage Y/NYes
Gross Income257566.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense3038.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet32262.0
MLS Area604 - Altadena
MaintenanceExpense5200.0
MobileHomeRemainsYNNo
Net Operating Income173852.0
New ConstructionNo
Open Parking Spaces8.0
Operating Expense83715.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameSacramento
Tax Lot10
Taxes$57,096
Total Units8
Trash Expense295.5
View Y/NNo
Water Sewer Expense295.5
Waterfront Y/NNo
Year Built1924
Year Built SourceAssessor
ZoningLCR110

Exterior for 451 E Sacramento Street

Building Area Total4896.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.7406
Lot Size Area32262.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings8
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking20.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $5,000,000
MLS#PW23179341
List Date 09/29/2023
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors