1710 Sierra Bonita AvePasadena, CA 91104

This exceptional 12-unit apartment complex in Pasadena, CA, presents a compelling investment opportunity. The property comprises six buildings, each a single-story bungalow, offering a mix of single-family homes and duplexes. Built in 1938 and completely renovated in 2024, the property boasts 4,068 square feet on a 10,474 square foot lot. All units feature modern upgrades, including new kitchens, bathrooms, flooring, in-unit laundry, and updated HVAC systems. Exterior improvements include fresh paint, new landscaping, fencing, and signage. The property enjoys 100% occupancy, generating a current NOI of $213,262 and a pro-forma NOI of $348,109, representing a 4.5% cap rate and a pro-forma cap rate of 7.34%, respectively. Each unit is individually metered for gas and electricity. Twelve parking spaces are available, a mix of attached garages, carports, and shared garages. The property is zoned RM-16 and offers significant upside potential, including the possibility of adding additional dwelling units (buyer to verify). Its prime location in the San Gabriel Mountain foothills, near Altadena Golf Course and Altadena Country Club, and minutes from numerous hiking trails and the EF International Language Campus, provides strong rental demand and multiple exit strategies. The average household income within a one-mile radius is approximately $170,962. This turnkey property is offered at $4,740,000, or $395,000 per unit. The property is fee simple ownership with no ground lease.