1728 Sierra Bonita AvePasadena, CA 91104

This exceptional 8-unit apartment building presents a compelling investment opportunity in Pasadena, California. The property comprises four buildings, each a single-story structure, offering a mix of single-family homes and duplex bungalows. Built in 1963 and extensively renovated in 2024, the complex boasts 4,353 square feet on a spacious 15,685 square foot lot. All eight units are meticulously upgraded, featuring modern kitchens, bathrooms, in-unit laundry, and new flooring. Exterior improvements include fresh paint, new landscaping, fencing, and signage. The property benefits from a 100% occupancy rate, generating a current NOI of $190,471 and a pro-forma NOI of $227,695, translating to a current cap rate of 4.90% and a pro-forma cap rate of 5.85%. Each unit is separately metered for gas and electricity. Nine parking spaces are available, a mix of attached garages, carports, and shared garages. The property is zoned RM16 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 within minutes of numerous hiking trails and the EF International Language Campus and EF Academy, provides strong rental demand and multiple exit strategies. The asking price is $3,890,000, or $486,250 per unit. This fee-simple ownership opportunity is a rare find in this highly desirable area.