156-164 N. Baldwin Avenue, Sierra Madre, CA 91024

CBRE is pleased to present a 5-unit legacy property, on market for the first time, located at 156-164 N. Baldwin Ave., in Sierra Madre, a hillside jewel consisting of (4) 1-bedroom apartments plus (1) 4-bedroom home (owner’s unit). This prideof-ownership apartment complex in the highly desirable and picturesque area, often known as the Village of the Foothills, steps to the heart of downtown Sierra Madre, with its vibrant coffee shops, banking, restaurants, wine shops and specialty stores, along the well-maintained Sierra Madre Blvd. at the base of the San Gabriel mountains. Many have strong roots in the Sierra Madre community, such as the Bottle Shop and Hotel Shirley. Several steps away is Sierra Madre Memorial Park, a historic landmark, immensely popular with its monuments, tennis courts, playground, picnic area, and weekly performances/activities.

Strong demographics characterize this charming and classic community where the average household income within a mile is $221,000 with consistent 98% occupancies in both the commercial and residential sectors. The subject enjoys a high walk score of 89 to retail and shopping, as well as being near Sierra Madre City Hall, Police Department and other civil services.

The property uniquely sits on the base of the hillside, amongst lush landscaped, full back yards of green grass, a laundry room, pitched roofs, one garage per unit, and charming curb appeal. The single-family home is a 4 bedroom, 2 bath home with over 1900 s.f. of living space. While an owner can offset mortgage and other expenses with the four 1 bedroom, 1 bath apartments on a. 33-acre lot zoned R3 and built in 1954. The unique setting of these 2 stories, garden style, multifamily property has 6 garage spaces on site and a total building s.f. of 4,017 and is individually metered for electric and gas. The one-bedroom apartments have front and rear entrances with access to the lush, grassy yard off a balcony stair.

There is over 50% upside in the rents, per our competitive rental survey (attached). There is no local rent control, but property is subject to statewide AB1482. This investment makes a great owner user investment in a very desirable residential locale with a property in its original architectural charm and beauty, hardwood floors, Torrance steel windows, and fully landscaped grassy backyard, and other charming features. For the investor who wants to reap the upside potential for significant cash flow over time, or the owner-user looking to offset mortgage with income from 4 other apartments, there are no other properties like this in this limited and highly sought after submarket.