483 Sturtevant Drive, Sierra Madre (91024)
$9,500,000
0 
0
8,400
PROPERTY DETAILS
| Address: |
view address Sierra Madre, CA 91024 Map Location |
Bedrooms: | 0 |
|---|---|---|---|
| Square Feet: | 8,400 sq.ft. | Lot Size: | 0.73 acres |
| Year Built: | 1923 | Property Type: | Mixed Use |
| County: | Los Angeles | List Date: | 2023-09-19 |
| Listing Number: | PW23175309 | Listed By: | Keller Williams - Santa Monica |
| Listing Office: | 310-463-2916 | Days on market: | 220 |
PROPERTY DESCRIPTION
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 cottages are comprised of various configurations, and have been tastefully 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, exterior 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.
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Exterior
| Parking Spaces: | 24.00 | Two Car Carport: | Yes |
Property and Lot Details
| Lot Acres: | 0.73 | Lot Near Mountains: | Yes |
| Lot Number: | 18.00 | Lot Sqft: | 31,712.00 |
| Public Sewer: | Yes | Public Water: | Yes |
| Transaction Type: | Sale | Year Built: | 1923 |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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