Active

451 E Sacramento ST

ALTADENA CA, 91001

$5,000,000


$1,021.24 per sqft

Active

1 Bed

1 Bath

4,896 sqft

Residential

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

May 24, 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

237


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 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Vanessa Withers shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 5/24/2024

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