$9,500,000

483 Sturtevant Drive, Sierra Madre, CA 91024

  • 8,400 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1923
  • Property Lot Size Icon2,614sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $1,131/sqft
  • Property List Date Icon Listed 4 months ago

Property Description

Nestled against the San Gabriel Wilderness, Sierra Court Cottages offers an investor the opportunity to own a unique 15-cottage community spread across eight (8) parcels in Sierra Madre, totaling 31,712 square feet. The 15 cottages are comprised of various configurations and have been tastefully renovated to preserve the original artistic integrity of the site. Current ownership has invested nearly $1.2 million in capital improvements, including new electrical systems, plumbing, roofing, exterior work, and landscaping. Operating expenses are currently low due to the implementation of resident utility billing (RUBS) across the community, allowing new ownership to operate the asset at a sub-30% expense ratio. The site is eligible for the construction of six (6) ADUs, totaling 3,800 square feet of additional rentable space. Current ownership has initiated the planning process and completed a site survey for construction. By adding the six (6) ADUs, new ownership can achieve a return on construction costs of over 260%.Alternatively, new ownership could opt to sell each parcel individually before or after the ADU construction to realize a premium return on investment. *Listing includes APN #s - 5764-017-006; 5764-017-007;5764-017-008; 5764-017-026;5764-017-011; 5764-017-010;5764-017-0

Listing Status:
Active
Date Added:
June 25, 2025 at 05:00AM
Listing Office:
Dover Management Corp. : 818-843-5200
Listing Agent:
Douglas Steinriede : 818-843-5200
MLS ID:
CL25557095
  • Appliances: Dryer
  • Laundry: DryerWasher
  • Heating: Wall Furnace
  • Parking: OtherUncovered Parking Space
  • County: Los Angeles
  • Zoning: SRR15764017006

This listing courtesy of Douglas Steinriede, Dover Management Corp.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Sierra Madre Elementary School

141 W Highland Ave, Sierra Madre, CA, 91024

Grades PK-5

0.79 miles away

S

Sierra Madre Middle School

160 N Canon Ave, Sierra Madre, CA, 91024

Grades 6-8

0.40 miles away

C

Cis Academy

2925 E Sierra Madre Blvd, Pasadena, CA, 91107

Grades 6-12

2.82 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.