463 Mariposa Avenue, Sierra Madre, California 91024, Sierra Madre, 91024 - bed, bath

463 Mariposa Avenue, Sierra Madre, California 91024 home-pic-0
ACTIVE UNDER CONTRACT$2,750,000
463 Mariposa Avenue, Sierra Madre, California 91024
0Bed
0Bath
5,206Sqft
15,068Lot
Year Built
1971
Close
-
List price
$2.75M
Original List price
$2.75M
Price/Sqft
$528
HOA
-
Days on market
-
Sold On
-
MLS number
P1-22445
Home ConditionFair
Features
Good View: None
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.75M(50th), sqft - 5206(50th), beds - undefined(50th), baths - undefined(50th).

Rare opportunity to acquire a 5-unit property in Sierra Madre, a unique small town nestled at the foot of Mt. Wilson in the San Gabriel Valley. Great unit mix with two large owner's units (one is vacant) with 3 bedrooms and 2 bathrooms. One of these comes with a spacious private outdoor patio. The other units are comprised of two 2/1 apartments and a studio (studio potentially unpermitted, buyer to verify). This well- maintained complex is nicely located, close to parks and downtown Sierra Madre with its shops and restaurants. The property includes 4 carport spaces, a one-car garage, laundry room and workshop. Both owner's units have laundry in the unit. Convenient to the 210 freeway and close to highly rated public and private schools. The property offers excellent income and sits on a 15,068 square foot lot, possibly allowing for expansion.

Condition Rating
Fair

The property was built in 1971. The images show that the property has been maintained, but the kitchen and bathrooms appear outdated. The flooring and light fixtures also show their age. While functional, the property would benefit from updates to bring it to modern standards.
Pros & Cons

Pros

Income Potential: Excellent income potential with a 5-unit property and desirable unit mix.
Large Owner's Units: Two large owner's units, one vacant, offering flexibility for owner-occupancy or higher rental income.
Prime Location: Located in the desirable small town of Sierra Madre, close to parks, downtown shops, and restaurants.
Large Lot Size: Sits on a 15,068 sq ft lot, potentially allowing for expansion.
Convenient Amenities: Includes carport spaces, a one-car garage, laundry room, and in-unit laundry for owner's units.

Cons

Studio Permit: Potential issue with the studio unit being unpermitted, requiring buyer verification.
Year Built: Built in 1971, the property may require updates to meet modern standards and preferences.
Active Under Contract: The property is currently under contract, which may limit immediate availability.

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