$4,350,000
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2548 El Molino Avenue Altadena, CA 91001
Mixed Use
Residence
Beds
Baths
...
Bed/Bath
6,448
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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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 remodel...s 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.
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MLS#
PW23179293
Property Type
Mixed Use
Year Built
1924
Square Feet
6,448
sq. ft
Lot Size
0.36
Sewer
Public Sewer
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