483-533 Sturtevant Drive
483-533 Sturtevant Drive
$9,500,000
9
15
8,400
8,400
$1,131
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 maintain the original artistic integrity of the site. Current ownership has spent nearly $1.2 million on capital improvements including new electric, plumbing, roofing, exterior work and landscaping....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 maintain the original artistic integrity of the site. Current ownership has spent nearly $1.2 million on capital improvements including new electric, plumbing, roofing, exterior work and landscaping. Current operating expenses are 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 qualifies for the construction of six (6) ADUs totaling 3,800 square feet of rentable space. Current ownership has begun the planning process and completed a site survey for construction. By adding the six (6) ADUs, new ownership can recognize a return on construction costs of over 260%. Optionally, new ownership could choose to sell each parcel separately, before or after construction of ADUs, to recognize premium ROI.
- Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
Property Details for 483-533 Sturtevant Drive
Parking Spaces Total
24
Private PoolNo
Total Units15.0
Building TypeAttached
Lot Size SourceAssessor
Living Area8400
Assessor Parcel Number5764-017-006
Property Attached YNtrue
Location
LISTING UPDATED: 12/18/2023 06:41 AM
Property Details for 483-533 Sturtevant Drive
Status | Active |
---|---|
MLS # | PW23175309 |
Days on Market | 246 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.73 AC / 31,712 SF |
County | Los Angeles County |
Location
Building Information for 483-533 Sturtevant Drive
Stories1Residences-Year Built1923Building Size-Lot Size0.73 AC / 31,712 SF
Payment Calculator
$51,845 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 483-533 Sturtevant Drive
Property History for 483-533 Sturtevant Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 483-533 Sturtevant Drive
This home is within Pasadena Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 5 |
Rating | School | Distance |
---|---|---|
Sierra Madre Elementary School PublicK to 5 | ||
Sierra Madre Middle School Public6 to 8 | ||
Pasadena High School Public9 to 12 | ||
Field (Eugene) Elementary School PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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