451 Sacramento Street, Altadena
$5,000,000 - 1 Bed, 1 BathMLS® # PW23179341
Robert Stepp Keller Williams - Santa Monica
2548 El Molino Avenue, Altadena
$4,350,000
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4 Beds
3 Baths
.36 Acre
4 Garages
2548 El Molino Avenue is a 10-unit asset located in Altadena, California. Current ownership has spent over $400,000 to thoughtfully restore the asset, with $170,000 alone spent on electrical and plumbing ugrades and a new roof. New 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 only payments remaining.
Essential Information
- MLS® #
- PW23179293
- Price
- $4,350,000
- Bedrooms
- 4
- Bathrooms
- 3.00
- Acres
- 0.36
- Year Built
- 1924
- Type
- Residential Income
- Sub-Type
- Mixed Use
- Status
- Active
Community Information
- Address
- 2548 El Molino Avenue
- Area
- 604 - Altadena
- City
- Altadena
- County
- Los Angeles
- Zip Code
- 91001
- Community Features
- Mountainous
- Senior Community
- N
Amenities
- Parking Spaces
- 7
- # of Garages
- 4
- Pool
- None
Interior
- # of Stories
- 1
Exterior
- Lot Description
- 6-10 Units/Acre
Additional Information
- Date Listed
- September 29th, 2023
- Days on Market
- 223
- Zoning
- LCC3*
Listing Details
- Agent
- Robert Stepp
- Office
- Keller Williams - Santa Monica
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Robert Stepp - Keller Williams - Santa MonicaBased on information from California Regional Multiple Listing Service, Inc. as of May 9th, 2024 at 11:30am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.