SACRAMENTO BUNGALOWS 664 E. Sacramento Street, Altadena, CA 91001

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Stephanie West
5 years ago
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SALE PRICE: $2,000,000 UNITS: 7 PRICE PER UNIT: $285,714 CAP RATE: 3.88% GRM: 15.87 LOT SIZE: 0.38 Acres BUILDING SIZE: PROPERTY OVERVIEW 664 E.

1 SALE PRICE: $2,000,000 UNITS: 7 PRICE PER UNIT: $285,714 CAP RATE: 3.88% GRM: LOT SIZE: 0.38 Acres BUILDING SIZE: PROPERTY OVERVIEW 664 E. Sacramento Street offers investors a unique opportunity to acquire 7 freestanding bungalows in the city of Altadena. Built in 1924, the property dubbed Sacramento Bungalows is comprised of four, one-bed/one-bath units at approximately 410 square feet, one, one-bed/one-bath + detached studio, and two, 2-bed/one-bath units. The property was constructed using quality old-growth redwood. Units are equipped with freestanding gas stoves / ovens, hardwood floors, wall-mounted A/C, and gas wall heating. Tenants also benefit from washer / dryer hookups in each unit in addition to a yard or deck featured in 6 of 7 units. 3,552 SF (Per Tax Assessor) YEAR BUILT: 1924 ZONING: LCR2-R1750

2 Pricing Price $/Unit $/SF GRM CAP Market GRM Market CAP List Price $2,000,000 $285,714 $ % % Financing Down Payment Loan to Value Amort Years Interest Payments List Price $1,000,000 50% $1,000,000 50% % ($5,067) Units Type Estimated Unit SF Avg Current Current /SF Total Market Total Market 1 1/1 432 $1,450 $3.36 $1,450 $1,450 $1, /1 432 $1,267 $2.93 $3,800 $1,550 $4, / $1,500 $3.47 $1,500 $1,650 $1, /1 612 $1,350 $2.21 $1,350 $1,800 $1, /1 1,000 $2,400 $2.40 $2,400 $2,400 $2,400 Scheduled Monthly $10,500 $11,950 Total Monthly Scheduled Income $10,500 $11,950 Scheduled Gross Income $126,000 $143,400 Less Vacancy 3% $3,780 $4,302 Gross Operating Income $122,220 $139,098 Expenses Current Market Real Estate Taxes % $22,382 $22,382 Direct Assessments (Actual) $1,313 $1,313 Gardener $1,800 $1,800 Insurance (Estimated) $2,000 $2,000 Water/Trash $5,800 $5,800 Maintenance & Repairs 8% SGI $10,080 $11,472 Reserves $175 /unit/year $1,225 $1,225 Total % of SGI Per SF Per Unit Total Total List Price 35% $12.56 $6,371 $44,600 $45,992 Return Current NOI Mkt NOI Less Debt Cash Flow Mkt Cash Flow Cash/Cash Mkt Cash/Cash List Price $77,621 $93,106 ($60,802) $16,818 $32, % 3.23%

3 Unit # Type Estimated SF Current Current /SF Market Market /SF Occupied 664 1/1 432 $1,450 $3.36 $1,550 $3.59 Yes 664 1/2 1/1 432 $1,450 $3.36 $1,450 $3.36 Yes 666 2/1 612 (1) $1,350 $2.21 $1,800 $2.94 Yes 666 1/2 2/1 1,000 (2) $2,400 (4) $2.40 $2,400 $2.40 Yes 668 1/ (3) $1,500 $3.47 $1,650 $3.82 Yes 670 1/1 432 $1,175 $2.72 $1,550 $3.59 Yes 672 1/1 432 $1,175 $2.72 $1,550 $3.59 Yes Comments W/D Hook up & 2 storage sheds W/D Hook up; deck & detached office W/D Hook up: yard Total Monthly Total Monthly Income Scheduled Gross Income $10,500 $11,950 $10,500 $11,950 $126,000 $143,400 Avg Current Current /SF Avg Market Market /SF Total Units Occupied Units Occupancy % Units Type Unit SF 1 1/1 432 $1,450 $3.36 $1,450 $ % 3 1/1 432 $1,267 $2.93 $1,550 $ / $1,500 $3.47 $1,650 $ /1 612 $1,350 $2.21 $1,800 $ /1 1,000 $2,400 $2.40 $2,400 $2.40 1) Originally a 1 Bed/1 Bath. Prior to current ownership, an addition was made, adding a second bedroom. It's assumed to have been done without permits. 2) Additions were made to this unit, prior to current owner. It's assumed to have been done without permits. 3) Current owner constructed a new redwood deck in the back of this unit and a detached room that can be used as a studio or office. Done without permits. 4) Currently owner occupied, $2,400 is estimated market rent.

FOR SALE PROPERTY BROCHURE. Well Maintained Duplex For Sale S. Kearney Street Denver, CO CONTACT: SAM LEGER TIM FINHOLM

FOR SALE PROPERTY BROCHURE. Well Maintained Duplex For Sale S. Kearney Street Denver, CO CONTACT: SAM LEGER TIM FINHOLM FOR SALE Well Maintained Duplex For Sale 764-768 S. Kearney Street Denver, CO 80224 PROPERTY BROCHURE CONTACT: SAM LEGER 303.512.1159 sleger@uniqueprop.com TIM FINHOLM 303.512.1161 tfinholm@uniqueprop.com