Private Estate or Income Property.
Magnificent 3-Story Queen Anne Victorian designed by renowned architects Samuel & Joseph Cather Newsom in 1888. This architectural treasure began life as a Railroad Hotel. When purchased by the present owners, it was a 9-unit apartment complex with 8 units leased, and the owners reserved the 3rd floor for their consulting business. In its current configuration, there are 8 Bedroom Suites and a Loft for lease; 6 Suites are leased with positive cash flow. Tenants share common rooms: the Parlor, Library, Formal Dining Room, 2 of the 4 Kitchens, Conservatory, Front Porch and gardens.
Beautifully restored by the present owners, it is a Sierra Madre Historic Landmark, receives Mills Act Tax relief which greatly reduces property taxes; it is re-wired and re-plumbed. As designed and built, this residence features Newsom Brothers’ large rooms, broad hallways and staircases and large casement windows that fill rooms with natural light. The remodel evokes a bygone era with period correct wallpapers, carpets, and restored claw-foot tubs.
The Pinney House, named for the original owner Dr Elbert Pinney, a rancher, developer and retired civil war surgeon, was used in movies, and this year generated additional income with commercial filming.
This commanding Sierra Madre property is sited on a beautiful nearly half-acre (20,500 SF), with views of the San Gabriel Mountains. The spectacular front porch and screened Conservatory are great places to slow down and find renewal. Whether used as a family home, or as presently conceived, this property is a rare find and a treasure.