$5,000,000
For Sale

451 E Sacramento Street

Altadena, CA 91001
0.74 acres | #PW23179341
Listing OfficeKeller Williams - Santa Monica
Browse 30 photos
Type:Multi-Family
Structure:Duplex/Multi-Unit
Zone:Residential

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.

  • Property Details
      • Lot DescriptionItem610UnitsAcre
      • Stories1
    • Measurements
      • Acres0.7406
    • Parking
      • Parking Spaces12
  • Construction Details
      • Property TypeMulti-Family
    • Condition
      • Year Built1924
  • Utilities / Energy Details
      • Sewer InformationPublicSewer
      • Utility SourcePublic
  • Community and Neighborhood Details
      • CountyLos Angeles
  • Financial Details
      • Original List Price$5,000,000
  • Other
      • MLS #PW23179341

Location

Beach City BrokersReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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