Robert Stepp
This listing was posted on RealtyWW.
$4,350,000
Home For Sale In Altadena, California
Price:
$4,350,000
BR/BA:
10+ BR, 10+ BA
Location:
2548 El Molino Ave, Altadena, CA
Description:
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.For more details: https://realtyww.info/homes_altadena-d57912/for-sale_i69098605
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More About this Listing: Home For Sale In Altadena, California
Home For Sale In Altadena, California is a 10+ BR 10 Bathroom, 10+ BA Single-Family Homes for Sale at 2548 El Molino Ave in Altadena CA. Find other listings like Home For Sale In Altadena, California and listings near 2548 El Molino Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA Single-Family Homes for Sale in Altadena CA.
Home For Sale In Altadena, California is a 10+ BR 10 Bathroom, 10+ BA Single-Family Homes for Sale at 2548 El Molino Ave in Altadena CA. Find other listings like Home For Sale In Altadena, California and listings near 2548 El Molino Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA Single-Family Homes for Sale in Altadena CA.