159 North Sierra Bonita Avenue

Pasadena, CA 91106

$2,400,000
Last Sold Price
3
Beds
7
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

With CAP Rate Close to 5% in a Class-A Location, and 100% VACANCY, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded single-story apartment in an unbeatable location in Pasadena. This 100% Vacancy provides new owners with TOTAL CONTROL of tenant selections without having to deal with costly & time-consuming tenant relocation, and thus bypassing Pasadena Rent Control. CAP Rate is Proforma (Marked to market) as all units are currently vacant. The property...With CAP Rate Close to 5% in a Class-A Location, and 100% VACANCY, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded single-story apartment in an unbeatable location in Pasadena. This 100% Vacancy provides new owners with TOTAL CONTROL of tenant selections without having to deal with costly & time-consuming tenant relocation, and thus bypassing Pasadena Rent Control. CAP Rate is Proforma (Marked to market) as all units are currently vacant. The property is an attractive single story garden style apartment that was built in 1954 and completely upgraded in 2023-2024. It offers a large ±3248 SF building size and is situated on a ±8,964 SF lot size with medium density zoning RM-32. It has excellent curb appeal with complete upgrades that includes new roof, new electrical (panel + subpanels), new plumbing, new sewer line, new windows, new landscaping, new entry gate, new driveway, new exterior façade, new exterior paint, and all units have been completely upgraded. It offers an excellent unit mix of 2 x 2bedroom+2bathroom, and 3 x large 1bedroom+1bathroom. Each unit is bright with an excellent layout and has been fully upgraded with high-end finishings. All the windows have been upgraded with double pane windows, complete with brand new zebra blinds, all units have brand new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. Each unit comes with laundry machines and individually metered for electricity and gas. Parking is provided by 5 open spaces at the back. There is an attached private garage that could either be rented out or converted into an ADU. The property is located on a small street across from Pasadena City College and only several blocks north of CALTECH. It is crossing Colorado Blvd and south of 210 FWY, making this a very desirable location. Old Town Pasadena and Lake Ave Shopping District are only minutes away. It is within minutes from Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has an excellent demographic of $128,929 average household income within a 1-mile radius.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 159 North Sierra Bonita Avenue

View
None
Parking Spaces Total
6
Private Pool
No
Cooling Type
Wall/Window
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
0

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321

Sold By Millennium Group Realty, Andy Hsieh, DRE #01943789

Add your commute
LISTING UPDATED: 04/09/2024 06:36 AM

Property Details for 159 North Sierra Bonita Avenue

StatusClosed
MLS #AR24024786
Days on Market55
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
CountyLos Angeles County

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321

Sold By Millennium Group Realty, Andy Hsieh, DRE #01943789

Add your commute

Building Information for 159 North Sierra Bonita Avenue

Building/Complex159 N Sierra Bonita AveFloor-Stories1Residences-Pet Policy-Year Built1954Building Size-

Payment Calculator

$14,447 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,098

Property Taxes

$1,349

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 159 North Sierra Bonita Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $165,600
  • Gross Scheduled Income: $165,600
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $160,632
  • Net Operating Income: $119,360
  • Gross Multiplier: 15.04
  • Cap Rate: 4.8
  • Financing: Cash
Expense Details
  • Operating Expense: $41,272
  • New Taxes Expense: $29,706
  • Electric Expense: $480
  • Insurance Expense: $2,436
  • Maintenance Expense: $2,000
  • Professional Management Expense: $0
  • Trash Expense: $2,400
  • Water Sewer Expense: $3,000
  • Total Expenses: $41,272
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 4627.00
  • CFD/Mello-Roos Fee: $1,288
  • Tax Lot: 62
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Valley
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, ENERGY STAR Qualified Appliances, Disposal, Gas Range, Range Hood, Refrigerator
  • Equipment: Dishwasher, Dryer, Dryer Included, Inside, Refrigerator, Washer, Washer Included
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Wood
Exterior Features
  • Roof: Asbestos Shingle
  • Entry Location: 1
  • Property Condition: Turnkey, Updated/Remodeled
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 31-35 Units/Acre, Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit
  • Direction Faces: East
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking: Yes
  • Parking Garage: Assigned, Driveway
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 1
  • Carport Spaces: 0
  • Parking Features: Assigned, Driveway
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,150
  • Unit Type Total Rent: $6,300
  • Unit Type Pro Forma: 6300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,500
  • Unit Type Total Rent: $7,500
  • Unit Type Pro Forma: 7500
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 0
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 5
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Number With Disposal: 5
  • Number Wall AC: 5

Property History for 159 North Sierra Bonita Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 159 North Sierra Bonita Avenue

Taxable ValueLand$600,000Additions$745,280Total$1,345,280
Tax Record2023$16,190 ($1,349 / month)
Home Facts
Total Finished SqFt3,248 SqFtAbove Grade Finished SqFt3,248 SqFtLot Size8,964 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningPSR3CountyLOS ANGELESAPN5737-006-021

Schools near 159 North Sierra Bonita Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Hamilton Elementary School
PublicK to 5

Woodrow Wilson Middle School
Public6 to 8

Pasadena High School
Public9 to 12

Marshall Fundamental School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.