359 N Lima Street, Sierra Madre, California 91024, Sierra Madre, 91024 - 0 bed, 0 bath
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Sierra Madre, California 91024
This Quadruplex Residential Income Asset is a Strong Value Opportunity, listed at $1,000,000—positioned above the $932,663 Fair Market Value. While priced slightly above market, the property’s Fair Condition Rating is offset by its proven track record of high occupancy and unique Versatile Creative Spaces. With three units featuring private patios and bonus rooms, this property maintains strong tenant appeal in the competitive Sierra Madre market. This is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers seeking a stable, income-producing multi-family asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 359 N Lima Street Subject | $1,000,000* List Price | 0 | 0 | 1,154 | $808 | - |
A 139 Esperanza Sold | $935,000 | 2 | 2 | 1,150 | $813 | 0.6 mi |
B 138 W Montecito Active Under Contract | $1,150,000 List Price | 0 | 0 | 1,404 | $819 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1947, this property is well over the 20-year threshold for a 'Fair' rating. While described as meticulously maintained and functional for rental income, the exterior shows dated windows and doors. The absence of interior photos or mentions of recent upgrades to kitchens, bathrooms, or major systems (HVAC/Electric) suggests the units are likely dated and will eventually require modernization to meet current market standards.
Three of the four units feature unique bonus spaces ideal for home offices or artist studios, a highly desirable feature that attracts long-term creative professionals and remote workers.
Situated in the heart of Sierra Madre, this property benefits from a high-demand rental market and a sought-after community atmosphere, ensuring historically low vacancy rates.
The property is a proven income-producing asset with an attractive cap rate and immediate cash flow, making it an ideal candidate for 1031 exchange investors.
With a total of only 1,154 square feet across four units, the individual living spaces are exceptionally small, which may limit the tenant pool to single occupants or those with minimal space requirements.
Built in 1947, the property may require more frequent maintenance or future capital improvements to aging systems compared to more modern multi-family developments.
Exceptional investment opportunity in the heart of Sierra Madre! This charming four-unit property, built in 1947, has been meticulously maintained and offers a unique blend of character, versatility, and strong income potential. The property consists of four thoughtfully designed units. Unit A is a studio with one bath, while Unit B features one bedroom, one bath, and an additional bonus space ideal for a home office, art studio, writing retreat, or creative workspace. Units C and D are attached and offer similar flexibility, with Unit C featuring two bedrooms plus bonus space and Unit D offering one bedroom plus bonus space. Units B, C, and D each enjoy private outdoor patios, creating desirable indoor-outdoor living environments for tenants.Long cherished by the current owner as a haven for artists, writers, and creative professionals, the property's bonus spaces provide opportunities for residents to pursue painting, writing, remote work, or other creative endeavors. This unique feature has contributed to the property's strong tenant appeal and consistently high occupancy. An outstanding income-producing asset, the property generates substantial rental revenue and has historically experienced very few vacancies. The seller reports that units have been easy to rent, reflecting the property's desirability and the strong demand for quality housing in this sought-after community. For investors seeking immediate cash flow, the property offers the potential for an attractive return on investment. Whether you're looking to expand your investment portfolio, complete a 1031 exchange, or acquire a well-maintained multi-family property with enduring tenant appeal, this distinctive Sierra Madre quadruplex presents a rare opportunity. Based on current income and expenses, the property offers the potential for an attractive cap rate and strong cash flow. Buyers are encouraged to verify all financial information and perform their own due diligence. The buyers will need to work with the city to cure any code violations.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,154 | 1,706 | 33% |
| Lot Size | 7,572 | 9,507 | 33% |
| Price | $1.00M | $1.15M | 33% |
| Price per sq ft | $867 | $693 | 83% |
| Built year | 1947 | 1924 | 83% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 134 | 17% |
May 29, 2026
$1,000,000
Initial Listing