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1728 N Sierra Bonita Avenue

Pasadena, CA 91104
  • $10,980,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: AR24028994
UPDATED: 54 min ago
$10,980,000
  • 0
    BEDS
  • 0.86
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)


Description

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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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T08:29:51.853. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/147475365
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1728 N Sierra Bonita Avenue Pasadena, CA 91104

  • Price: $10,980,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 54 min ago
  • ID#: AR24028994
0
Beds
0
Baths
0
½ Baths
0.86
Acres
1963
Built
Neighborhood:
645 - Pasadena (NW)
County:
Los Angeles
Area:
645 - Pasadena (NW)
Property Description
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.
Exterior Features

Carport Spaces 12 Carport YN Yes Direction Faces West Entry Level 1 Entry Location 1 Lot Features LevelNear ParkRectangular Lot Number Of Separate Electric Meters 26 Open Parking Spaces 10 Parking Features AssignedCarportDetached CarportGarage Parking Total 28 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No View Mountain(s) View YN Yes

Interior Features

Accessibility Features None Appliances Gas RangeDryerWasher Common Walls 2+ Common WallsNo One AboveNo One Below Cooling Wall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring LaminateWood Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Association YN No Cap Rate 4.29 Common Interest Community Apartment Community Features SuburbanValleyPark Contingency NONE Disclosures Principal is Real Estate Licensed Electric Standard Garage YN Yes Gross Income 680948 Gross Scheduled Income 680948 Insurance Expense 8279 Land Lease YN No Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 13000 Net Operating Income 470416 New Construction YN No New Taxes Expense 119655 Number Of Separate Gas Meters 26 Number Of Separate Water Meters 1 Number Of Units Leased 26 Operating Expense 196912 Possession Close Of Escrow Property Condition Turnkey Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 56746 Trash Expense 15600 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 2 Water Sewer Expense 10852 Water Source Public Zoning PSR1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T08:29:51.853. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)