$5,000,000 Price Analysis   ♡   Altadena, CA 91001 8 bed 8 bath 4,896 SqFt ($1021/SqFt) 0.74 acre lot. Built 1924 Listed 2023-09-29, Taxes $19,105 | Ⓧ USDA Ineligible due to price & location near Altadena |
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. Th 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 payments remaining.
Presented by Robert Stepp at
Keller Williams - Santa Monica.
Property MLS #PW23179341 from CRMLS
Lot Size Acres: 0.7406
Lot Size Source: Assessor
Lot Size Square Feet: 32262
Parking Total: 20
Bedrooms in Unit-1: 1
Total Bathrooms in Unit-1: 1
Maintenance Expense: 5200.00
County: Los Angeles
Cap Rate: 3.48
Other Expense: 1800.00
Source Property Type: Residential Income
Insurance Expense: 3038.00
Area: 604 - Altadena
Source Neighborhood: 604 - Altadena
New Taxes Expense: 57096.00
Number of Separate Electric Meters: 8
Number of Separate Gas Meters: 8
Number of Separate Water Meters: 1
Parcel Number: 5839016016
Pest Control Expense: 900.00
Postal Code Plus 4: 2914
Professional Management Expense: 12878.00
Trash Expense: 295.50
Zoning: LCR110
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $123,769 + $1,361,528 $1,485,297 | $19,105 |
| 2021 | $121,343 + $1,334,832 $1,456,175 | $17,914 |
| 2020 | $120,099 + $1,321,145 $1,441,244 | $17,252 |
| 2019 | $117,745 + $1,295,241 $1,412,986 | $17,281 |
| 2018 | $115,437 + $1,269,845 $1,385,282 | $17,576 |
| 2017 | $113,174 + $1,244,947 $1,358,121 | $17,361 |
| 2016 | $110,955 + $1,220,537 $1,331,492 | $16,892 |
| 2015 | $109,289 + $1,202,204 $1,311,493 | $16,720 |
| 2014 | $107,149 + $1,178,655 $1,285,804 | $16,443 |
| 2013 | $106,665 + $1,173,329 $1,279,994 | $16,411 |
| 2012 | $104,574 + $1,150,323 $1,254,897 | $16,247 |
| 2010 | $102,524 + $1,127,768 $1,230,292 | $15,540 |
| 2009 | $102,000 + $1,122,000 $1,224,000 | $15,655 |
| 2009 | $101,758 + $1,119,340 $1,221,098 | $15,655 |
| 2008 | $220,527 + $661,583 $882,110 | $11,296 |
| 2007 | $216,203 + $648,611 $864,814 | $10,955 |
$5,000,000
CRMLS
Listing removed 2019-09-16
$1,649
PasadenaPFAR
Listing removed 2009-06-18
$1,649
PasadenaPFAR
Listing removed 2009-06-18
$1,649
ITECH
Listed for rent 2009-03-17
$1,649
PasadenaPFAR
Listed for rent 2009-03-17
$1,649
ITECH
Sold 2008-02-27
$1,200,000
ITECH
Listed 2007-12-04
$1,295,000
ITECH
Sold 2002-11-21
$800,000
Public Record
Sold 1998-12-18
$170,000
Public Record
Year Built: 1924
Building Features: 8
Common Walls: No Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 100
Building Total Stories: 1
Structure Type: Commercial/Residential
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 295.50
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.