7
See all 7 photos
$5,000,000
Est. payment /mo
8 Beds
8 Baths
4,896 SqFt
New
451 E Sacramento ST Altadena, CA 91001
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,896 sqft
Price per Sqft $1,021
MLS Listing ID 25556197
Bedrooms 8
HOA Y/N No
Year Built 1924
Lot Size 0.741 Acres
Property Description
This unique community features eight (8) charming 1-bedroom, 1-bath + den Spanish-style bungalows arranged around a serene courtyard on a spacious lot. Nestled on a quiet street just half a block from the iconic Christmas Tree Lane, the property is surrounded by mature trees and expansive grassy areas, creating a peaceful and inviting atmosphere. Over $540,000 has been invested in capital improvements, including upgrades to plumbing, roofing, and electrical systems all already completed. New ownership can subdivide the lot into three (3) separate parcels, allowing the opportunity to build eight (8) new ADUs across the site. These additions have the potential to generate approximately $386,400 in annual rental income. Upon ADU completion, the property can be stabilized at a 12.53% cap rate with a 6.71 GRM. Resident utility billing (RUBS) has been implemented to reduce operational costs, and the property is eligible for Mills Act designation, offering substantial potential property tax savings. Assumable financing available at 5.25%, with five years of interest-only payments remaining.
Location
State CA
County Los Angeles
Area 604 - Altadena
Zoning LCR110
Interior
Heating Combination
Cooling Dual
Fireplace No
Appliance Refrigerator, Dryer, Washer
Exterior
Parking Features Garage
Total Parking Spaces 13
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5839016016
Special Listing Condition Standard
Listed by Douglas Steinriede Dover Management Corp.