Trophy Downtown Sierra Madre - Retail & Apartment in Class A Location, Stable Net Lease Structure

Highlights:

• • Pride of Ownership Commercial Retail & Apartment in the heart of Downtown Sierra Madre
• • Extremely strong demographics with an average household income of ±$202,678 within two-mile radius
• • Class A Property in a Class A Location!
• • Walk score of 89 with superb access to almost all amenities within the city
• • Long-time owner for 16 years!
• • Right in the heart of Downtown Sierra Madre and a stone throw away from prime dining, shopping, and other venues in Sierra Madre
• • Prime San Gabriel Valley location with a VERY LIMITED inventory of commercial property available for sale
• • High barriers to entry submarket with very limited inventory; High rent growth and low vacancy rate area
• • Adjacent to Arcadia, and only minutes to Santa Anita Mall, Santa Anita Racetrack, Los Angeles Arboretum
• • Beautifully upgraded commercial property with major systems upgraded (updated electrical, updated roof, exterior façade, store fronts)
• • Irreplaceable spaces for commercial tenants providing stable and quality tenancy for the center.
• • Expansive ±26k SF lot that spans Sierra Madre Blvd to Mariposa Ave
• • The commercial side is fully occupied with strong retail tenants that are established and rooted in the community
• • Net Lease structure on most of the commercial tenants
• • Superb curb appeal and easy to manage properties
• • All the commercial units have views of San Gabriel Mountain
• • Commercial building has an elevator
• • Large lot size with ample parking, no tuck-under parking – no soft-story retrofit is required
• • Each commercial unit has upgraded electrical panels, Central HVAC
• • Each apartment unit is separately metered for electricity and gas, Central HVAC, Double pane windows, shared laundry room, barbeque area, etc.
• • Several units have private patio/deck, and views of San Gabriel Mountain

Description:

Growth Investment Group California is proud to offer 140 W Sierra Madre Blvd. & 138 W Sierra Madre Blvd. a.k.a. 147 S Mariposa St., pride-of-ownership commercial retail and apartment in the highly desirable area of the City of Sierra Madre, California. It is in the heart of Sierra Madre downtown, right on Sierra Madre Blvd. The property is surrounded by local mom-and-pop restaurants and other local retail stores. It is several steps away from Sierra Madre Memorial Park, a historic landmark and an immensely popular park for Sierra Madre residents; it houses monuments, tennis courts, playground, covered picnic area, and weekly performances and activity centers. It offers excellent demographics with ±$202,678 of average household income within a mile radius. This strong market provides consistent full occupancy for the commercial and residential units of these properties. Because of its superb location in Sierra Madre Downtown (Sierra Madre Blvd and Baldwin Ave), the property enjoys strong occupancy and high walk score of 89. It is also several lots away from Sierra Madre City Hall, Police Department and other Sierra Madre civil services.

140 W Sierra Madre is a two-story retail/commercial building that has been fully upgraded. It has upgraded electrical, plumbing, roof, exterior paint, and exterior façade. All the units have been upgraded by each tenant providing superb synergies to the local community and providing consistent and stable tenancies for this property. This property consists of 7 tenants, 5 of them are on Net Lease structure while the remaining 2 are on Modified Gross structure. The property was built in 1953, has a total of ±9,169 SF building space and situated on ±10,066 SF CC zoned lot. It has a shared driveway with the 147 Mariposa Ave. Parking is in the back with 12 open spaces (11 + 1 disabled parking).

This commercial center is occupied by local retailers that have established business presence, strong roots in the Sierra Madre community, and each tenant has invested heavily in improving their units through modern tenant improvements. The first floor is occupied by a local coffee shop, massage therapist office, sandwich place, and other retailers. The 2nd floor is occupied by a group of psychiatrists with excellent space and private offices. Each private office has views of San Gabriel Mountains and sliding door that leads to semi-private rooftop deck area. The spaces and locations provided by this center to each commercial tenant are not easily replaceable, which translates to a stable tenancy for this shopping center.

147 Mariposa Ave is a 5 units value-add two-story garden style apartment that was built in 1936 and has undergone major renovation in recent years. It has a total of ±4,853 SF building area and is situated on a large ±15,296 SF lot. The property has an updated electrical, plumbing, double pane windows throughout, and central HVAC units. The property offers an excellent unit mix with one (1) x 3-bed + 1-bath, three (3) x 2-bed + 1-bath, and one (1) x 1-bed + 1-bath units. The property has 7 separate electrical meters, and it may have a 6-unit before the previous owner combined 2 units into one and made it into a 5 units apartment. The property is not under any local rent control, so new owner can increase rents up to 10% (per CA AB1482 – buyer to verify). There is a shared laundry room (seller own machines). It has 6 open parking spaces in the front. The deck area is supported by metal poles, so the property does not require any balcony/SB721 inspection.

Location Amenities and Access
The property is centrally located in the heart of the Sierra Madre and in Downtown Sierra Madre (Sierra Madre Blvd and Baldwin Ave). Called “The Village of the Foothills” and centrally located between Pasadena and Arcadia, the City of Sierra Madre is made up of three-square miles of serene neighborhoods and green space. At its heart is the City’s charming downtown shopping district, a popular landmark for visitors and the approximately 11,000 residents that call Sierra Madre home.

Downtown Sierra Madre offers a lively and charming atmosphere and offers many small restaurants and shops. With many businesses in Sierra Madre being owned by local entrepreneurs, the town is able to maintain its small-town charm and give the community an opportunity to shop locally. There are many restaurants, specialty retail shops as well as professional services available to residents and visitors.

Sierra Madre hosts a locally famous Independence Day parade and three days of festivities each year. The date of the parade varies from year to year, dependent on when the Monday of the holiday weekend falls. Residents like to call it a “Star Spangled Weekend.” The old tradition of water-filled squirt guns during the parade has been scrapped for “confetti eggs” to throw at parade participants and viewers. Concerts, food and game booths and the ubiquitous beer booth are all a part of the firework-free weeken

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