$ 9,500,000
-
$9,500,000
Price -
9
Bed -
6
Bath -
8,400
SqFt
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About the Listing CLW-X72165 - CLW-X44193
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 preserve the original artistic integrity of the site. Current ownership has invested nearly $1.2 million in capital improvements, including new electrical systems, plumbing, roofing, exterior work, and landscaping. Operating expenses are currently 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 is eligible for the construction of six (6) ADUs, totaling 3,800 square feet of additional rentable space. Current ownership has initiated the planning process and completed a site survey for construction. By adding the six (6) ADUs, new ownership can achieve a return on construction costs of over 260%.Alternatively, new ownership could opt to sell each parcel individually before or after the ADU construction to realize a premium return on investment. *Listing includes APN #s - 5764-017-006; 5764-017-007;5764-017-008; 5764-017-026;5764-017-011; 5764-017-010;5764-017-009; 5764-017-029*
Listing Highlights for 483 Sturtevant Dr
Status
Active
Days on Site
75
Property Type
Multi-Family
MLS ®
25557095
Year Built
1923
Total Square Footage
8,400
Lot/Acreage
0.06
County
Los Angeles
Area
656 - Sierra Madre
Interior Details
- Bedrooms: 9
- Bathrooms: 6 Full
- Appliances: Dishwasher
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 1
- Zoning: SRR1-CUP*
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Carport,Uncovered,Parking Space,Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5764017006
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
483 Sturtevant Dr Sierra Madre, CA 91024
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