$5,000,000 Price Analysis 451 E Sacramento StAltadena, 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 |
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
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 |
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.