This prime Monrovia foothill offering presents a rare opportunity to acquire both a quality income-producing property and a high-potential development site in one. Currently generating steady rental income with a ~3% CAP rate, the property offers substantial room for improvement and future upside. It’s ideal for investors who wish to maintain income while advancing subdivision or redevelopment plans, minimizing carrying costs during the entitlement process. The portfolio comprises two contiguous parcels: 537 Cloverleaf Dr. (APN: 8503-001-029) — approximately 4.88 acres with a 2,683 SF dwelling AND 539 Cloverleaf Dr. (APN: 8503-002-008) — approximately 14.97 acres with a 2,390 SF dwelling Together, the combined 19.85-acre property provides utilities on site. According to recent surveyor analysis, there is potential for 6 to 8 luxury single-family home lots. The optimal layout would likely include six primary lots, while two additional lots could be achieved with more complex hillside grading and retaining solutions. Set amid the natural beauty of Monrovia’s hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potential—a rare combination in one of the San Gabriel Valley’s most desirable submarkets. All provided information should be confirmed by any interested parties.
CALLING ALL DEVELOPERS AND AMBITIOUS HOMEOWNERS- This property comes with fully approved set of plans with paid-for building permits by the seller already. Break ground immediately! The approved plans feature a stunning 2,378 sq. ft. two-story home with 4 bedrooms and 3.5 bathrooms, including a convenient mother-in-law suite with a full bath on the ground floor. Designed for modern comfort and functionality, this home will be a perfect retreat in an unbeatable location. Being a flat lot with standard foundation plans (no need for caissons), this is a straightforward construction project in a highly desirable neighborhood with limited availability. Nestled in a private cul-de-sac-style turnabout, this lot gives ultimate tranquility with only two other homes in the immediate vicinity. Surrounded by nature, enjoy regular sightings of deer and easy access to Monrovia Canyon Park, a favorite destination for hiking enthusiasts. The location strikes the perfect balance —a peaceful, secluded feel while remaining just minutes from Pasadena’s vibrant shopping and dining scene, and a 10-15 minute drive to The Shops at Santa Anita in Arcadia. Added plus: a new home currently under construction next door is set to boost property values in the area. Essential utilities (sewage/water/electric) are conveniently located at the street. Don’t miss out on this exceptional chance to build in one of Monrovia’s most sought- after communities. Contact us today for more details.
Monrovia is located in California. Monrovia, California has a population of 37,999. Monrovia is less family-centric than the surrounding county with 30.51% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Monrovia, California is $87,077. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Monrovia is 39.1 years.
The average high temperature in July is 87.7 degrees, with an average low temperature in January of 46.6 degrees. The average rainfall is approximately 20.2 inches per year, with 0 inches of snow per year.
