Active

359 N Lima Street

Sierra Madre, CA 91024
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Bed 0

Bed

Bath 0

Bath

SqFt1,154

Sqft

SqFt7,572

Sqft(Lot)

Investor and developer opportunity in the highly desirable city of Sierra Madre. This unique property is currently improved with four residential units generating substantial rental income; however, buyers should be aware that the property is zoned R-1 and Los Angeles County Assessor records identify the property as a duplex. The City has indicated that the existing improvements will require correction, and buyers are encouraged to conduct their own investigation regarding permitted uses, approvals, redevelopment options, and compliance requirements.Based on discussions with the City, future use may include a duplex and an ADU, creating an exciting opportunity for investors, builders, and developers to reimagine the property and maximize its potential. The existing improvements include a s tudio unit, two one-bedroom units, a two-bedroom unit, and several bonus spaces that have historically attracted artists, writers, and creative professionals. The property has a long history of strong rental demand and minimal vacancy, demonstrating the desirability of the location and providing valuable insight into the area's rental market. Situated on a charming residential street in sought-after Sierra Madre, this is a rare chance to acquire a property with immediate income, redevelopment potential, and significant upside. Cash buyers, experienced investors, and developers are encouraged to explore the possibilities. Property is being sold in its present AS-IS condition. Buyer to independently verify zoning, permits, square footage, existing use, development potential, and all information relating to the property.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,000,000

AD Id : 79496402

MLS Id : P1-27368

Lot Size : 7,572 Sqft

Living Area Size : 1,154

Year Built : 1947

County : Los Angeles

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Feature Features

  • Bathroom Information

    Total Baths: 0

    Water/Sewer

    Water Source: Public Sewer: Sewer Tap Paid
  • Interior Features

    Property Appliances: Free-Standing Range,Gas Oven,Microwave,Refrigerator
  • Cooling Features

    Air Conditioning

    Heating Source

    Has Heating

    Fireplace

    Has Fireplace: 1

  • Building Information

    Year Built: 1947 Building Area Total: 1,154
  • Pool Features

    None

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1738
  • Lot Size Source: Public Records Lot Size Square Feet: 7572

  • Listing Price Information

    Original List Price: 1,000,000 Listing Contract Date: 2026-05-09
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 5761018013

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: 656 - Sierra Madre Directions: North of Grandview Source Property Type: Residential Income Area: 656 - Sierra Madre Property SubType: Quadruplex
  • Building and Construction

    Property Age: 79 Common Walls: 2+ Common Walls Structure Type: Quadruplex Year Built Source: Public Records Property Attached: Yes Levels or Stories: One Building Total Stories: 1
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
78 E Highland Avenue, Sierra Madre, CA, 91024 $1,800,000 5 4 2,894 2,894 SqFt

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ByOwner last updated this listing 06/21/2026 @ 18:58

MLS: P1-27368 LISTED BY: Sarah Moore, Engel & Voelkers Pasadena 626-584-0101 SOURCE: CRMLS

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