451 East Sacramento Street
451 East Sacramento Street
$5,000,000
1
8
4,896
4,896
$1,021
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.
- 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 PoolNo
Total Units8.0
Building TypeDetached
Lot Size SourceAssessor
Living Area4896
Assessor Parcel Number5839-016-016
Property Attached YNfalse
Location
LISTING UPDATED: 12/18/2023 06:41 AM
Property Details for 451 East Sacramento Street
Status | Active |
---|---|
MLS # | PW23179341 |
Days on Market | 216 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1924 |
Lot Size | 0.74 AC / 32,262 SF |
County | Los Angeles County |
Location
Building Information for 451 East Sacramento Street
Stories1Residences-Year Built1924Building Size-Lot Size0.74 AC / 32,262 SF
Payment Calculator
$28,933 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 451 East Sacramento Street
Property History for 451 East Sacramento Street
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 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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