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159 Sierra Bonita Avenue
Pasadena, CA 91106
Sold
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.
PROPERTY INFORMATION
| MLS # | AR24024786 | Lot Size | 8,967 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 2,490,000
Price Per SqFt: $ inf |
DOM | 482 Days |
| Address | 159 Sierra Bonita Avenue | Type | Residential Income |
| City | Pasadena | Sq.Ft. | 0 Sq. Ft. |
| Postal Code | 91106 | Garage | 1 |
| County | Los Angeles | Year Built | 1954 |
| Bed / Bath | 3 / 0 | Parking | 6 |
| Built In | 1954 | Status | Closed |
| Sold Date | 2024-04-09 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Dryer Included, Inside, Washer Included |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Dishwasher, ENERGY STAR Qualified Appliances, Disposal, Gas Range, Range Hood, Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
| Flooring Information | Wood |
| EntryLocation | 1 |
| Entry Level | 1 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Roof | Asbestos Shingle |
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,656
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 04/09/2024 | Sold | $2,400,000 |
| 03/28/2024 | Pending | $2,490,000 |
| 02/02/2024 | Listed | $2,490,000 |
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(844)-333-8033
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Listing provided courtesy of Han Chen, Growth Investment Group Pasade. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
