$9,500,000 Price Analysis   ♡   Sierra Madre, CA 91024 22 bed 15 bath 8,400 SqFt ($1130/SqFt) 0.73 acre lot. Built 1923 Listed 2023-09-19, Taxes $5,063 | Ⓧ USDA Ineligible due to price & location near Sierra Madre |
Nestled against the San Gabriel Wilderness
Sierra Court Cottages offers an investor the opportunity to own a unique 15-cottage community spread across eight (8) parcels in Sierra Madre, totaling 31, 712 square feet. The 15 cottges are comprised of various configurations and have been renovated to maintain the original artistic integrity of the site. Current ownership has spent nearly $1.2 million on capital improvements including new electric, plumbing, roofing, exteri or work and landscaping.
Current operating expenses are low due to the implementation of resident utility billing (RUBS) across the community, allowing new ownership to operate the asset at a sub 30% expense ratio. The site qualifies for the construction of six (6) ADUs totaling 3, 800 square feet of rentable space. Current ownership has begun the planning process and completed a site survey for construction. By adding the six (6) ADUs, new ownership can recognize a return on construction costs of over 260%. Optionally, new ownership could choose to sell each parcel separately, before or after construction of ADUs, to recognize premium ROI.
Presented by Robert Stepp at
Keller Williams - Santa Monica.
Property MLS #PW23175309 from CRMLS
Additional Parcels: Yes
Lot Description: 11-15 Units/Acre
Lot Size Acres: 0.728
Lot Size Source: Assessor
Lot Size Square Feet: 31712
Garage Spaces: 6
Parking Total: 24
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1
Unit-4 Garage Spaces: 1
Unit-5 Garage Spaces: 1
Unit-6 Garage Spaces: 1
Maintenance Expense: 9750.00
County: Los Angeles
Cap Rate: 4.26
Other Expense: 3375.00
Source Property Type: Residential Income
Insurance Expense: 6012.00
Area: 656 - Sierra Madre
Source Neighborhood: 656 - Sierra Madre
New Taxes Expense: 108544.00
Number of Separate Electric Meters: 15
Number of Separate Gas Meters: 15
Number of Separate Water Meters: 1
Parcel Number: 5764017006
Pest Control Expense: 1800.00
Postal Code Plus 4: 1342
Professional Management Expense: 22528.00
Trash Expense: 1249.50
Zoning: SRR1-CUP
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $117,484 + $314,322 $431,806 | $5,063 |
| 2021 | $115,181 + $308,159 $423,340 | $4,860 |
| 2020 | $114,000 + $305,000 $419,000 | $4,668 |
| 2019 | $31,422 + $98,871 $130,293 | $1,641 |
| 2018 | $30,806 + $96,933 $127,739 | $1,664 |
| 2017 | $30,202 + $95,033 $125,235 | $1,646 |
| 2016 | $29,610 + $93,170 $122,780 | $1,601 |
| 2015 | $29,166 + $91,771 $120,937 | $1,574 |
| 2014 | $28,595 + $89,974 $118,569 | $1,548 |
| 2013 | $28,466 + $89,568 $118,034 | $1,544 |
| 2012 | $27,908 + $87,812 $115,720 | $1,529 |
| 2010 | $27,361 + $86,091 $113,452 | $1,472 |
| 2009 | $27,222 + $85,651 $112,873 | $1,472 |
| 2009 | $27,157 + $85,448 $112,605 | $1,472 |
| 2008 | $26,689 + $83,972 $110,661 | $1,383 |
| 2007 | $26,166 + $82,326 $108,492 | $1,342 |
$3,195
Avail
Listing removed 2024-05-22
$0
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Listed for rent 2024-05-01
$3,195
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Listing removed 2024-04-30
$0
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Listing removed 2024-04-15
$0
AppfolioUnits
Listed for rent 2024-03-19
$3,195
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Listing removed 2024-03-16
$0
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Listed for rent 2024-03-07
$4,195
AppfolioUnits
Listed for rent 2024-02-03
$3,195
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Listing removed 2024-02-02
$0
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Listed for rent 2024-01-16
$4,195
CRMLS
Listing removed 2024-01-14
$0
CRMLS
Listed for rent 2023-12-23
$3,195
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Listing removed 2023-12-21
$0
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Listed for rent 2023-11-30
$3,195
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Listing removed 2023-11-29
$0
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Listed for rent 2023-11-09
$3,195
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Listing removed 2023-11-08
$0
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Listing removed 2023-10-22
$0
AppfolioUnits
Listed for rent 2023-10-20
$4,195
Avail
Listing removed 2023-10-19
$0
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Listed for rent 2023-10-03
$4,195
AppfolioUnits
Listing removed 2023-09-29
$0
AppfolioUnits
Listed for rent 2023-09-28
$4,195
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Listing removed 2023-09-27
$0
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Listed 2023-09-19
$9,500,000
CRMLS
Listed for rent 2023-09-06
$4,195
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Listing removed 2023-09-05
$0
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Listed for rent 2023-08-15
$4,195
Avail
Listed for rent 2023-07-22
$4,195
AppfolioUnits
Listed for rent 2023-07-12
$4,195
CRMLS
Listing removed 2020-02-06
$0
Avail
Listed for rent 2020-01-27
$2,995
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Sold 2019-12-31
$4,000,000
CRMLS
Sold 1985-10-31
$167,000
Public Record
Year Built: 1923
Building Features: 10
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: 1
Property Age: 101
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Structure Type: Commercial/Residential
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 1249.50
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.