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
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
REZONED FOR UP TO 18 UNITS! Welcome to the heart of Altadena, where an incredible investment opportunity awaits you. This property offers six charming, cottage-like homes, each featuring 1 bedroom and 1 bath, except one unit offering 2 bedrooms and 1 bathroom, making it the perfect investment for those seeking versatility and rental income potential. Nestled amidst lush green landscaping and surrounded by bountiful fruit trees, this tranquil oasis creates an inviting ambiance that tenants will love. The spacious parking areas ensures convenience for all residents and their guests, providing ample space for vehicles. What sets this property apart is the private long road in between, offerin
Hillside lot, the seller will provide an Architect and engineering drawing. All plans have to be updated. The seller will make the update for the buyer and pay the fee to the seller. The seller is an engineer and contractor, he will help the buyer obtain the building permit and make the construction.
This property for sale consist of 6 parcels, 3 of the parcels have a single house on them. which totals 3.04 Acres. Buyer may check with the county office to see what type of a development can be built.