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$ 1,000,000
Est. payment /mo
New
359 N Lima ST Sierra Madre, CA 91024
7,570 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID P1-27368
HOA Y/N No
Year Built 1947
Lot Size 7,570 Sqft
Property Sub-Type Quadruplex
Property Description
Exceptional investment opportunity in the heart of Sierra Madre! This charming four-unit property, built in 1947, has been meticulously maintained and offers a unique blend of character, versatility, and strong income potential. The property consists of four thoughtfully designed units. Unit A is a studio with one bath, while Unit B features one bedroom, one bath, and an additional bonus space ideal for a home office, art studio, writing retreat, or creative workspace. Units C and D are attached and offer similar flexibility, with Unit C featuring two bedrooms plus bonus space and Unit D offering one bedroom plus bonus space. Units B, C, and D each enjoy private outdoor patios, creating desirable indoor-outdoor living environments for tenants.Long cherished by the current owner as a haven for artists, writers, and creative professionals, the property's bonus spaces provide opportunities for residents to pursue painting, writing, remote work, or other creative endeavors. This unique feature has contributed to the property's strong tenant appeal and consistently high occupancy. An outstanding income-producing asset, the property generates substantial rental revenue and has historically experienced very few vacancies. The seller reports that units have been easy to rent, reflecting the property's desirability and the strong demand for quality housing in this sought-after community. For investors seeking immediate cash flow, the property offers the potential for an attractive return on investment. Whether you're looking to expand your investment portfolio, complete a 1031 exchange, or acquire a well-maintained multi-family property with enduring tenant appeal, this distinctive Sierra Madre quadruplex presents a rare opportunity. Based on current income and expenses, the property offers the potential for an attractive cap rate and strong cash flow. Buyers are encouraged to verify all financial information and perform their own due diligence
Location
State CA
County Los Angeles
Area 656 - Sierra Madre
Interior
Fireplace Yes
Appliance Free-Standing Range, Gas Oven, Microwave, Refrigerator
Exterior
Pool None
Community Features Foothills, Hiking, Sidewalks
View Y/N No
View None
Total Parking Spaces 4
Private Pool No
Building
Story One
Entry Level One
Sewer Sewer Tap Paid
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5761018013
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Trust
Listed by Sarah Moore Engel & Voelkers Pasadena #01166814
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