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Sierra Bungalows 483-533 Sturtevant Dr 15 Unit Apartment Building $13,133,750 CAD ($875,583 CAD/Unit) Sierra Madre, CA 91024
INVESTMENT HIGHLIGHTS
- Unique trophy asset in A+ Sierra Madre location
- Nearly $1.2 million in CAPEX invested, including electrical, plumbing, and roofing
- RUBS program in place; low operating expenses
- 15 renovated cottages spread across 8 separate parcels, totaling 31,712 SF
- Opportunity to build up to 6 ADUs totaling over 3,800 SF of rentable space, or sell each parcel separately for premium ROI
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Price | $13,133,750 CAD | Building Class | B |
| Price Per Unit | $875,583 CAD | Lot Size | 0.73 AC |
| Sale Type | Investment | Building Size | 8,400 SF |
| No. Units | 15 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | ||
| Zoning | SRR1-CUP* | ||
| Price | $13,133,750 CAD |
| Price Per Unit | $875,583 CAD |
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.73 AC |
| Building Size | 8,400 SF |
| No. Stories | 1 |
| Year Built | 1922 |
| Zoning | SRR1-CUP* |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 1 | - | 800 |
| 2+1 | 6 | - | 600 |
| 1+1 | 7 | - | 500 |
| Studios | 1 | - | 500 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $599,897 CAD | |
| Land Assessment | $1,011,650 CAD | Total Assessment | $1,611,547 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,011,650 CAD
Improvements Assessment
$599,897 CAD
Total Assessment
$1,611,547 CAD
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Sierra Bungalows | 483-533 Sturtevant Dr
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