Garden-Style 5-Unit Apartment
156-164 N Baldwin Avenue Sierra Madre, CA 91024
156-164 N Baldwin Avenue, Sierra Madre, CA, 91024
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For Sale
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Five-unit hillside property with four 1-bedroom apartments and an owner’s 4-bedroom home on R3-zoned land.
Property Size4,017 SF
Lot Size0.33 Acres
Price / SF$535.23
Days on Market51
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
Listing agency
CBRE LA
(818) 216-1114
Listed by
Melinda Russell · License #CA 00860306
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:52PM Checked: Jul 20 at 2:57AM
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
Investment Insights
Based on property information with market context.
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.
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.
Key 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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.7k | $31.80 |
| − Vacancy | −$10.2k | −$2.54 |
| EGI | $117.5k | $29.26 |
| − OpEx | −$52.9k | −$13.17 |
| NOI | $64.6k | $16.09 |
4,017 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$923.4K
$808.0K – $1.08M
NOI $64,637 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,548 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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
