451 East Sacramento Street

Altadena, CA 91001

$5,000,000
Price
1
Beds
8
Baths
4,896 Sq. Ft.
$1,021 / Sq. Ft.
4,896
Sq. Ft.
$1,021
per Sq. Ft.

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...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.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916

Property Details for 451 East Sacramento Street

Parking Spaces Total
20
Private Pool
No
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4896
Assessor Parcel Number
5839-016-016
Property Attached YN
false

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379
Add your commute
LISTING UPDATED: 12/18/2023 06:41 AM

Property Details for 451 East Sacramento Street

StatusActive
MLS #PW23179341
Days on Market216
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1924
Lot Size0.74 AC / 32,262 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379
Add your commute

Building Information for 451 East Sacramento Street

Stories1Residences-Year Built1924Building Size-Lot Size0.74 AC / 32,262 SF

Payment Calculator

$28,933 per month

30 year fixed, 7.25% Interest

Principal and Interest

$27,287

Property Taxes

$1,646

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 451 East Sacramento Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $257,566
  • Gross Scheduled Income: $265,532
  • Net Operating Income: $173,852
  • Gross Multiplier: 18.83
  • Cap Rate: 3.48
Expense Details
  • Operating Expense: $83,715
  • New Taxes Expense: $57,096
  • Gardener Expense: $120
  • Fuel Expense: $296
  • Licenses Expense: $1,500
  • Pest Control Expense: $900
  • Electric Expense: $296
  • Insurance Expense: $3,038
  • Maintenance Expense: $5,200
  • Professional Management Expense: $12,878
  • Other Expense: $1,800
  • Other Expense Description: Reserves
  • Trash Expense: $296
  • Water Sewer Expense: $296
  • Total Expenses: $83,715
Tax / Assessment Info
  • Tax Block: 16
  • Tax Tract Number: 4611
  • Tax Census Tract: 4611.00
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Mountainous
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 12
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 12
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,289
  • Unit Type Total Rent: $26,312
  • Unit Type Pro Forma: 3610
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 8
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 451 East Sacramento Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 451 East Sacramento Street

Taxable ValueLand$1,388,758Additions$129,444Total$1,518,202
Tax Record2023$19,751 ($1,646 / month)
Home Facts
Total Finished SqFt4,896 SqFtAbove Grade Finished SqFt4,896 SqFtLot Size32,262 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLCR110CountyLOS ANGELESAPN5839-016-016

Schools near 451 East Sacramento Street

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

Odyssey Charter School - South
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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451 East Sacramento Street is a mixed use property for sale in Altadena, CA 91001. This property was listed for sale on September 29, 2023 by Keller Williams - Santa Monica, it's currently listed at $5,000,000. It has been on the market for a total of 216 days and was last sold on December 27, 2007. This listing's school district is Pasadena Unified School District. Nearby schools include Altadena Elementary School, Charles W. Eliot Middle School and John Muir High School. 451 East Sacramento Street is a 1-bed, 8-bath, 4,896 sqft mixed use property built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.