Thank you
Han Chen
Growth Investment Group Pasade
626-594-4900
Offered at 4.29% CAP Rate with 6.12% Proforma CAP (buyer to verify), Sierra Bonita Bungalows is a 26-unit Turnkey Single-story bungalows community in the foothill area of San Gabriel Mountain, and only 2 blocks south of Altadena Country Club. Situated in the prestigious San Gabriel Mountain foothill area, and within walking distance to Altadena Country Club and Altadena Golf Course, this exclusive property consists of 26 units that are spread over 15 buildings and meticulously designed and fully upgraded from top to bottom, providing an attractive proposition for investors looking for steady rental income and long-term value appreciation. The property consists of 3 parcels with highly desirable layouts; a combination of single-story bungalow style single-family houses and duplexes, each unit provides serene and single-family house atmosphere to it, making each unit very easy to rent and highly desirable amongst renters. The large, combined lots allow FOUR (4) ADUs OR MORE (buyer to verify). It is in a quiet residential area surrounded by mostly multi-million dollars SFR. Located just several properties away from the world renown EF International Language Campus (www.EF.com ), and EF Academy, this strategic location provides excellent location for international students, or short rentals. The area commands a fantastic demographic of $170,962 Average Household Income within a-mile-radius. This offering provides rare opportunity to investors who appreciates quality asset and location with multiple exit strategies such as: operate as apartments and enjoy cash-flow and tax benefit over time, operate as short-term rentals for nearby international students, condo conversions, TIC conversions, or operate as-is and add ADUs. Sierra Bonita Bungalows has 3 parcels/properties: address# 1704 consists of 6 units (and situated on ±11,254 SF lot, address# 1710 consists of 12 units and situated on ±10,474 SF lot, and address# 1728 consists of 8 units and situated on ±15,685 SF lot (BUYER TO VERIFY). All three properties have shared parking at the back (combination of carports and garages) and must be sold together. The property has been completely renovated and offers a desirable mix of One (1) x 3bedroom+2bathroom house, nineteen (19) x 1bedroom+1bathroom bungalows, and six (6) studio bungalows.
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Water Source : Public
Sewer : Public Sewer
Property Appliances: Gas Range,Dryer,Washer
Fireplace: None
Flooring: Laminate,Wood
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1963
None
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.8589
Lot Size Source: Assessor
Lot Size Square Feet: 37413
Original List Price: 10,980,000
Listing Contract Date: 2024-02-09
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5851003012
Garage Description: Assigned,Carport,Detached Carport,Garage
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 645 - Pasadena (NW)
Postal Code Plus 4: 1576
Directions: 2 blocks south of Altadena Country Club
Zoning: PSR1
Source Property Type: Residential Income
Area: 645 - Pasadena (NW)
Property SubType: Apartment
Property Age: 61
Common Walls: 2+ Common Walls,No One Above,No One Below
Property Condition: Turnkey
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1936 Santa Rosa Avenue, Pasadena, CA,91104 | $825,000 | 2 | 1 | 891 | 10386 Sqft |
1253 E Washington Boule.., Pasadena, CA,91104 | $1,800,000 | -- | -- | 5,578 | 15921 Sqft |
1746 Atchison Street, Pasadena, CA,91104 | $1,195,000 | -- | -- | 2,592 | 8994 Sqft |
1601 Sinaloa Avenue, Pasadena, CA,91104 | $1,256,000 | -- | -- | 2,256 | 7254 Sqft |
708 N El Molino Avenue, Pasadena, CA,91104 | $1,200,000 | 4 | 2 | 1,061 | 4882 Sqft |
1455 1457 N Hill Avenue, Pasadena, CA,91104 | $1,399,000 | -- | -- | 3,046 | 10316 Sqft |
239 Robinson Road, Pasadena, CA,91104 | $1,149,999 | 4 | 3 | 2,206 | 5085 Sqft |
485 E Washington Boulev.., Pasadena, CA,91104 | $5,695,000 | -- | -- | 13,859 | 38240 Sqft |
547 Douglas Street, Pasadena, CA,91104 | $1,395,000 | 3 | 2 | 1,383 | 9535 Sqft |
925 Atchison, Pasadena, CA,91104 | $1,599,000 | 4 | 2 | 2,645 | 7652 Sqft |
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ByOwner last updated this listing 05/15/2024 @ 14:57
MLS: AR24028994
LISTED BY: Han Chen, Growth Investment Group Pasade
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.