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    Garden-Style 5-Unit Apartment Property Title is generated by Realmo AI

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

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    Five-unit hillside property with four 1-bedroom apartments and an owner’s 4-bedroom home on R3-zoned land.

    Type:Multifamily
    Property size:
    4,017 SF
    Lot size:
    0.33 Acres
    Price / SF:
    $535/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 5:20 am

    Property Features for 156-164 N Baldwin Avenue

    General Information

    Standard status
    Active
    Size
    4,017 SF
    Lot size
    0.33 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Melinda Russell

    Listing agent Melinda Russell License #CA 00860306

    Listing office CBRE LA

    Listing date Jun 2, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE LA

    HighLights

    • 5‑unit property built in 1954: four 1‑bedroom, 1‑bath apartments plus an owner’s 4‑bedroom, 2‑bath home
    • Total building size is 4,017 SF, with the single‑family home offering over 1,900 SF of living space
    • R3‑zoned 0.33‑acre lot with hillside, two‑story garden‑style multifamily layout
    • On‑site parking includes 6 garage spaces total, with one garage per unit
    • Individually metered for electric and gas; each unit has front and rear entrances with yard access
    • Owner‑user option: use the 4 apartments for income to offset expenses; no local rent control, subject to AB1482

    Overview

    This legacy 5-unit apartment property features four 1-bedroom, 1-bath apartments plus an owner’s 4-bedroom, 2-bath home. The building is described as two stories and garden style, with pitched roofs and hardwood floors, along with Torrance steel windows. Common area and outdoor space include fully landscaped, grassy back yards. Unit access includes front and rear entrances for the 1-bedroom apartments, with access to the yard off a balcony stair. The property also includes a laundry room and one garage per unit, for a total of six garage spaces on site. The offering totals 4,017 building square feet and is individually metered for electric and gas. The property is built in 1954.

    Set at the base of a hillside, the site includes lush landscaping and curb appeal. The community is described as steps from downtown Sierra Madre and near Sierra Madre Memorial Park, with the well-maintained Sierra Madre Blvd. noted in the remarks. The property sits on a 0.33-acre lot zoned R3.

    From an operating standpoint, the mix of four apartments plus a separate single-family owner’s unit can support both tenant rental income and owner occupancy. The remarks state there is no local rent control, and the property is subject to statewide AB 1482. This is presented as an owner-user opportunity due to the property’s original architectural character and its long-standing configuration of individual garages, outdoor yards, and individually metered utilities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sierra Madre
    County
    Los Angeles
    State
    California
    Longitude
    -118.0521361
    Latitude
    34.164742

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    FAQs

    What type of property is this?
    Apartment building - Five-unit hillside property with four 1-bedroom apartments and an owner’s 4-bedroom home on R3-zoned land.
    Where is this apartment building located?
    The property is located at 156-164 N Baldwin Avenue Sierra Madre, CA.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: 5‑unit property built in 1954: four 1‑bedroom, 1‑bath apartments plus an owner’s 4‑bedroom, 2‑bath home; Total building size is 4,017 SF, with the single‑family home offering over 1,900 SF of living space; R3‑zoned 0.33‑acre lot with hillside, two‑story garden‑style multifamily layout
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Melinda Russell
    Real Estate License ID: CA 00860306
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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