MidCenturyModern, Modern
140 138 W Sierra Madre Boulevard
Sierra Madre , CA 91024
MLS#: AR25146589
$6,780,000
Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1953
Sq.Footage
N/A
140 W Sierra Madre Blvd. & 138 W Sierra Madre Blvd. a.k.a. 147 S Mariposa St., pride-of-ownership commercial retail and apartment in the highly desirable area of the City of Sierra Madre, California. It is in the heart of Sierra Madre downtown, right on Sierra Madre Blvd. The property is surrounded by local mom-and-pop restaurants and other local retail stores. It is several steps away from Sierra Madre Memorial Park, a historic landmark and an immensely popular park for Sierra Madre residents; it houses monuments, tennis courts, playground, covered picnic area, and weekly performances and activity centers. It offers excellent demographics with ±$202,678 of average household income within a mile radius. This strong market provides consistent full occupancy for the commercial and residential units of these properties. Because of its superb location in Sierra Madre Downtown (Sierra Madre Blvd and Baldwin Ave), the property enjoys strong occupancy and high walk score of 89. It is also several lots away from Sierra Madre City Hall, Police Department and other Sierra Madre civil services. 140 W Sierra Madre is a two-story retail/commercial building that has been fully upgraded. It has upgraded electrical, plumbing, roof, exterior paint, and exterior façade. All the units have been upgraded by each tenant providing superb synergies to the local community and providing consistent and stable tenancies for this property. This property consists of 7 tenants, 5 of them are on Net Lease structure while the remaining 2 are on Modified Gross structure. The property was built in 1953, has a total of ±9,169 SF building space and situated on ±10,066 SF CC zoned lot. It has a shared driveway with the 147 Mariposa Ave. Parking is in the back with 12 open spaces (11 + 1 disabled parking). 147 Mariposa Ave is a 5 units value-add two-story garden style apartment that was built in 1936 and has undergone major renovation in recent years. It has a total of ±4,853 SF building area and is situated on a large ±15,296 SF lot. The property has an updated electrical, plumbing, double pane windows throughout, and central HVAC units. The property offers an excellent unit mix with one (1) x 3-bed + 1-bath, three (3) x 2-bed + 1-bath, and one (1) x 1-bed + 1-bath units. The property has 7 separate electrical meters, and it may have a 6-unit before the previous owner combined 2 units into one and made it into a 5 units apartment. The property is not under any local rent control.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
N/A
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Central
Exterior
-
Garage
No
-
Parking
Assigned, Asphalt, Driveway
-
Pool
Yes
-
Pool Features
None
-
View
Mountain(s), Panoramic
Area & Lot
-
Lot Features
Level, Near Public Transit, Rectangular Lot
-
Lot Size(acres)
0.5822
-
Property Type
Residential Income
-
Property Sub Type
Mixed Use
-
Architectural Style
MidCenturyModern, Modern
Price
-
Sales Price
$6,780,000
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
NO
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Senior Community YN
NO
-
Sewer
Public Sewer
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Han Chen , Growth Investment Group Pasade
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