$4350000 Price Analysis   ♡   Altadena, CA 91001 12 bed 10 bath 6448 SqFt ($674/SqFt) 0.36 acre lot. Built 1924 Listed 2023-09-29, Taxes $21871 | Ⓧ USDA Ineligible due to price & location near Altadena |
2548 El Molino Avenue is a 10-unit asset locat ed in Altadena
California. Current ownership has spent over $400, 000 to thoughtfully restore the asset, with $170, 000 alone spent n electrical and plumbing ugrades and a new roof. Contemporary 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 payments remaining.
Presented by Robert Stepp at
Keller Williams - Santa Monica.
Property MLS #PW23179293 from CRMLS
Lot Size Acres: 0.3629
Lot Size Source: Assessor
Lot Size Square Feet: 15810
Parking Total: 7
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Maintenance Expense: 6500.00
County: Los Angeles
Cap Rate: 4.22
Other Expense: 2250.00
Source Property Type: Residential Income
Insurance Expense: 2026.00
Area: 604 - Altadena
Source Neighborhood: 604 - Altadena
New Taxes Expense: 50928.00
Number of Separate Electric Meters: 10
Number of Separate Gas Meters: 10
Number of Separate Water Meters: 1
Parcel Number: 5845017011
Pest Control Expense: 900.00
Postal Code Plus 4: 2318
Professional Management Expense: 13086.00
Trash Expense: 196.50
Zoning: LCC3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $914307 + $746898 $1661205 | $21871 |
| 2021 | $896380 + $732253 $1628633 | $20456 |
| 2020 | $887189 + $724745 $1611934 | $19716 |
| 2019 | $869794 + $710535 $1580329 | $19736 |
| 2018 | $852740 + $696603 $1549343 | $20037 |
| 2017 | $836020 + $682945 $1518965 | $19790 |
| 2016 | $819628 + $669554 $1489182 | $19357 |
| 2015 | $807317 + $659497 $1466814 | $19150 |
| 2014 | $791503 + $646579 $1438082 | $18828 |
| 2013 | $787926 + $643657 $1431583 | $18804 |
| 2012 | $772477 + $631037 $1403514 | $18594 |
| 2010 | $757331 + $618664 $1375995 | $17789 |
| 2009 | $753457 + $615500 $1368957 | $17876 |
| 2009 | $751671 + $614041 $1365712 | $17876 |
| 2008 | $738684 + $603432 $1342116 | $16832 |
| 2007 | $724200 + $591600 $1315800 | $16314 |
$4350000
CRMLS
Listing removed 2020-11-15
$0
Avail
Listed for rent 2020-10-06
$2195
Avail
Listing removed 2019-12-11
$1195
PasadenaPFAR
Listing removed 2009-03-24
$1195
PasadenaPFAR
Listing removed 2009-03-24
$1195
ITECH
Listed for rent 2008-12-26
$1195
PasadenaPFAR
Listed for rent 2008-12-23
$1195
ITECH
Sold 2006-04-04
$1290000
Public Record
Sold 2000-10-31
$600000
Public Record
Year Built: 1924
Building Features: 1
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: 1
Property Age: 100
Property Attached: Yes
Building Total Stories: 1
Structure Type: Commercial/Residential
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 196.50
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.