8 bedroom house for sale
$5,000,000 - Altadena CA 91001Altadena CA 91001
8 bedroom house for sale
- Beds: 8
- Baths: 8
- Price: $5,000,000
- Reference No.: 69177223
- Area: 4,896 sqft
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Overview
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.House Altadena
This House for sale is located at Altadena CA 91001. The home has 8 Bedroom and 8 Bathrooms. This 8 bedroom House in Altadena CA is for sale for $5,000,000 .
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2024-03-31, Viewed 13 times.
Disclaimer
The information about this listing comprises a listing advertisement. Listanza makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. Further, Listanza has no control over the content. The information is provided and maintained by the owner/agent. Please contact the owner/agent directly to obtain any additional information.
2024-03-31, Viewed 13 times.
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