25
See all 25 photos
$1,000,000
Est. payment /mo
2 Beds
5 Baths
7,572 Sqft Lot
New
359 N Lima Street Sierra Madre, CA 91024
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID P1-27368
Bedrooms 2
Lot Size 7,572 Sqft
Property Sub-Type Res Income 2-4 Units
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 excha
Location
State CA
County Los Angeles
Zoning Public Rec
Direction North of Grandview
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Others
Senior Community No
Tax ID 5761018013
Acceptable Financing Cash
Listing Terms Cash
Listed by Sarah Moore, DRE#01166814 Engel & Voelkers Pasadena
NEARBY SCHOOL & BUSINESS
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