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505 Lotus Lane, Sierra Madre, California 91024, Sierra Madre, 91024 - 4 bed, 4 bath

505 Lotus Lane, Sierra Madre, California 91024 home-pic-0
ACTIVE$2,500,000
505 Lotus Lane, Sierra Madre, California 91024
4Beds
4Baths
4,075Sqft
18,315Lot
Year Built
1991
Close
-
List price
$2.5M
Original List price
$2.7M
Price/Sqft
$613
HOA
-
Days on market
-
Sold On
-
MLS number
WS25029674
Home ConditionExcellent
Features
Excellent View: City Lights, Hills, Panoramic
Deck
Pool
Spa
Patio
ViewCity Lights,Hills,Panoramic

About this home

Possibly Over-Priced:The estimated price is 14% below the list price. We found 3 Cons,6 Pros. Rank: price - $2.50M(91th), sqft - 4075(98th), beds - 4(59th), baths - 4(80th).

This gracious estate is situated on a hilltop of private cul-de-sac with breath taking views. The views are incredible. This gorgeous English Tudor offers 4 bedrooms, 3.5 baths. Fully remodeled with an open concept family room and kitchen combo, informal eating area, formal Dining room . Fully remodeled Kitchen with granite countertops, Island, stainless steel appliances and beautiful lightings. Equipped with 2 brand new AC units. Special interior features include fireplaces in the Living and Family rooms. Formal Dining room with view to the beautiful Swimming Pool with Spa and Waterfall. Formal Living room next to oversize Laundry room. There are 2 Balconies one off the Family room and one off the Master En-suite with Picturesque views. Laminate floors. The private backyard features a gorgeous custom built heated pool with waterfall and spa. Large built-in BBQ are for entertainment and relaxation. Easy access to Freeways, Shopping Mall and Restaurants. Video Footage of House: https://www.wellcomemat.com/video/59ip685a02021m0tq/SMAD/CA/91024/Lotus/WS25029674/

Condition Rating
Excellent
Despite being built in 1991, this property has undergone a recent and extensive renovation, as evidenced by the 'fully remodeled' description and the visual quality of the interior. The kitchen features modern white shaker cabinets, light countertops, a stylish teal hexagonal backsplash, stainless steel appliances, and contemporary lighting. The master bathroom is also fully updated with a freestanding tub, modern gold-toned fixtures, and marble-look tiling. The presence of '2 brand new AC units' further confirms recent system upgrades, indicating minimal deferred maintenance and a move-in ready state that meets current quality standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 18315, living area = 4075.
Exceptional Panoramic Views: The property boasts breathtaking panoramic views of city lights and hills from its hilltop, cul-de-sac location, enhancing its desirability and value.
Extensively Remodeled Interior: Features a fully remodeled, open-concept kitchen with granite countertops, an island, stainless steel appliances, and modern lighting, along with updated living spaces.
Luxury Outdoor Living: A private backyard oasis includes a custom-built heated pool with a waterfall and spa, plus a large built-in BBQ area, ideal for entertainment and relaxation.
Modern Comfort Systems: Equipped with two brand new AC units, ensuring optimal climate control and comfort throughout the spacious 4075 sqft home.
Spacious Private Estate: Situated on a generous 18,315 sqft lot within a private cul-de-sac, offering a gracious estate feel with ample space and enhanced privacy.

Cons

Significant Overpricing: The current listing price of $2.5M is substantially higher (14% above) the estimated property value of approximately $2.137M, potentially deterring potential buyers.
Prior Price Reduction: The property has already undergone a price reduction from its original list price of $2.699M, which may signal an initial overvaluation or challenges in attracting offers.
Dated Architectural Style: The English Tudor architectural style, while charming to some, may not appeal to all modern luxury buyers who prefer contemporary or more classic traditional designs.

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