Excellent investment Opportunity. Minutes to downtown Sierra Madre shops and restaurants. Lot is 14,097 sqft per Realist Tax and Zoned R-3. Property has a 2,150 sqft single family home in excellent condition and a three car garage. There is a proposed zoning density increase scheduled for the November 9th City Council Meeting which will increase the density to either 20 or 24 units per acre. Excellent location for condominiums, apartments or to maintain the single family home and add an ADU/guest house opportunity for an extended family. Whatever investment direction you choose consider the benefits of renting the home during the Planning and Building process with the city. Median rental price over the past 12 months for 2,000-2,400 sqft single family homes in Sierra Madre, is $4,400/mo.
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