1710 Sierra Bonita AvePasadena, CA 91104

Property Details for 1710 Sierra Bonita Ave

Year built

1938

Construction

WOOD

Lot size

0.24 AC

Property size (Sq ft)

4,068 SF

Zone code

PSR1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5851-003-006

APU

5851003006

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,608,916

  6.5%

  $1,485,153

  7%

  $1,379,070

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,454,048

  Geo Method

  $1,199,035

• Alternative Use

  Use

  Valuation

  Residential

  $1,485,153

  Hospitality

  $1,360,392

  Educational

  $1,131,830

  Medical

  $1,170,756

  Retail

  $1,760,625

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1756

Longitude

-118.118

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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