2548 El Molino Avenue
2548 El Molino Avenue
$4,350,000
4
10
6,448
6,448
$675
Description
2548 El Molino Avenue is a 10-unit asset located in Altadena, California. Current ownership has spent over $400,000 to thoughtfully restore the asset, with $170,000 alone spent on electrical and plumbing ugrades and a new roof. New ownership can take advantage of current ownership's interior remodels and recognize 20% upside on current rents. The property is comprised of (2) 2BD/1BA units, (6) 1BD/1BA + Den units, and (2) 1BD/1BA units. Current ownership has implemented resident utility billing (RUBS)...2548 El Molino Avenue is a 10-unit asset located in Altadena, California. Current ownership has spent over $400,000 to thoughtfully restore the asset, with $170,000 alone spent on electrical and plumbing ugrades and a new roof. New ownership can take advantage of current ownership's interior remodels and recognize 20% upside on current rents. The property is comprised of (2) 2BD/1BA units, (6) 1BD/1BA + Den units, and (2) 1BD/1BA units. Current ownership has implemented resident utility billing (RUBS) across all units, allowing the asset to operate at a sub 30% expense ratio. The property is Mills Act eligible, which would allow new ownership to further drive down operating expenses . An existing storage space provides current income, and also has the potential to be converted into two (2) ADUs for additional rental revenue of approximately $84,000 annually. 2548 El Molino Avenue offers an assumable loan of $1,631,000 at 5.25% with 5 years of interest only payments remaining.
- Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
Property Details for 2548 El Molino Avenue
Parking Spaces Total
7
Private PoolNo
Total Units10.0
Building TypeAttached
Lot Size SourceAssessor
Living Area6448
Assessor Parcel Number5845-017-011
Property Attached YNtrue
Location
LISTING UPDATED: 12/18/2023 06:41 AM
Property Details for 2548 El Molino Avenue
Status | Active |
---|---|
MLS # | PW23179293 |
Days on Market | 215 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1924 |
Lot Size | 0.36 AC / 15,810 SF |
County | Los Angeles County |
Location
Building Information for 2548 El Molino Avenue
Stories1Residences-Year Built1924Building Size-Lot Size0.36 AC / 15,810 SF
Payment Calculator
$25,624 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2548 El Molino Avenue
Property History for 2548 El Molino Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2548 El Molino Avenue
Taxable ValueLand$761,835Additions$932,993Total$1,694,828
Tax Record2023$22,610 ($1,884 / month)
Home Facts
Total Finished SqFt6,448 SqFtAbove Grade Finished SqFt6,448 SqFtLot Size15,810 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLCC3*CountyLOS ANGELESAPN5845-017-011
Schools near 2548 El Molino Avenue
This home is within Pasadena Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Altadena Elementary School PublicK to 5 | ||
Charles W. Eliot Middle School Public6 to 8 | ||
John Muir High School Public9 to 12 | ||
Pasadena Rosebud Academy CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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