Listed by Han Chen with Growth Investment Group Pasade 626-594-4900

Offered at 4.29% CAP Rate with 6.12% Proforma CAP (buyer to verify), Sierra Bonita Bungalows is a 26-unit Turnkey Single-story bungalows community in the foothill area of San Gabriel Mountain, and only 2 blocks south of Altadena Country Club. Situated in the prestigious San Gabriel Mountain foothill area, and within walking distance to Altadena Country Club and Altadena Golf Course, this exclusive property consists of 26 units that are spread over 15 buildings and meticulously designed and fully upgraded from top to bottom, providing an attractive proposition for investors looking for steady rental income and long-term value appreciation. The property consists of 3 parcels with highly desirable layouts; a combination of single-story bungalow style single-family houses and duplexes, each unit provides serene and single-family house atmosphere to it, making each unit very easy to rent and highly desirable amongst renters. The large, combined lots allow FOUR (4) ADUs OR MORE (buyer to verify).

It is in a quiet residential area surrounded by mostly multi-million dollars SFR. Located just several properties away from the world renown EF International Language Campus (www.EF.com ), and EF Academy, this strategic location provides excellent location for international students, or short rentals. The area commands a fantastic demographic of $170,962 Average Household Income within a-mile-radius. This offering provides rare opportunity to investors who appreciates quality asset and location with multiple exit strategies such as: operate as apartments and enjoy cash-flow and tax benefit over time, operate as short-term rentals for nearby international students, condo conversions, TIC conversions, or operate as-is and add ADUs.
Sierra Bonita Bungalows has 3 parcels/properties: address# 1704 consists of 6 units (and situated on +-11,254 SF lot, address# 1710 consists of 12 units and situated on +-10,474 SF lot, and address# 1728 consists of 8 units and situated on +-15,685 SF lot (BUYER TO VERIFY). All three properties have shared parking at the back (combination of carports and garages) and must be sold together. The property has been completely renovated and offers a desirable mix of One (1) x 3bedroom+2bathroom house, nineteen (19) x 1bedroom+1bathroom bungalows, and six (6) studio bungalows.