Spanning four separate buildings, 137 and 147 N Myrtle Avenue, along with 146 and 148 Stedman Place, the property covers three separate parcels totaling a large 32,485 square foot, block-to-block area of land. Because the City of Monrovia does not have its own restrictive local rent control, the property benefits from higher allowable rent increases under California's statewide AB 1482. This may help a new owner to recapture the approximately 26% in rent upside more rapidly, leading to a more dramatic increase in future cash flow. Monrovia is also not subject to the expensive Measure ULA taxes that burden nearby Los Angeles, allowing investors to keep substantially more profits from building ownership. The buildings feature an excellent unit mix with mostly two-bedroom apartments throughout. Most of these units have already been upgraded to include varying combinations of remodeled bathrooms, updated kitchen appliances, new wood flooring, and, in select units, upgraded electrical panels and in-unit washer/dryers. The location grants tenants the convenience and walkability of more urban neighborhoods, as confirmed by its "Walker's Paradise" designation with a Walk Score of 92, along with the calm and comfort of a more suburban town. This is due largely to the property's location near the sought-after Old Town Monrovia business district, which runs along Myrtle Avenue just one block south of the property.
Exciting Investment Opportunity! Discover two charming single-family homes on one lot, each featuring 2 bedrooms, 1 bathroom, separate utility meters, and access to a shared 2-car garage. This versatile property is perfect for owner-occupants looking to live in one home and rent out the other, or for investors seeking strong rental income by leasing both units. Located in a desirable area close to freeways, shopping, and restaurants, this property offers convenience, flexibility, and excellent long-term potential.
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.
Great 3-Unit investment opportunity is located in a desirable area of North Monrovia. The front unit features 2 bedrooms, 1 bathroom, eat in kitchen and spacious living room. The second unit has 2 bedrooms and 2 bathrooms, eat in kitchen plus dining area and living room. The third unit is a studio with 1 bathroom & 1 bathroom and kitchen. Additionally there are porches and patios conveniently located throughout the property. Also included in this property is a 3 car garage (with laundry hookups) and 3 parking spaces. Conveniently located near public transportation, shopping center and parks.
This rare opportunity features two separate single-story homes situated on a generous 7,883 sq ft lot, each with its own private back yard perfect for multi-generational living, rental income, or investment potential. The front unit offers two comfortable bedrooms and one full bathroom. The rear unit expands on that comfort with two spacious bedrooms, two full bathrooms, living room and a beautifully sized 17' x 23' family room featuring a charming brick fireplace with a built-in cushioned seat that adds warmth and character perfect for relaxing or entertaining. Offering flexibility and room to grow. Each home is equipped with its own electric and gas meters, providing added independence and convenience. Additional highlights include a dedicated laundry room for each unit and ample outdoor space, with potential for future expansion or the addition of an ADU (Accessory Dwelling Unit). Best of all, both units will be delivered vacant, offering a blank slate for immediate occupancy or rental setup.A truly versatile property with endless possibilities.
Greart triplex investment in Monrovia in (Unincorporated area of Los Angeles County) within 1/4 mile radius of well over million dollar home sales. . Front house is facing Benrud Street. has its own back yard area and it is 2 bedrooms 1 bath,this house is a separate building by itself. Back unit 203 1/2 is also a 2 bedroom 1 bath, remodeled . The garage was converted to a unit and it is 1 bedroom 2 bath. The upstairs unit has new designer vinyl flooring, new tile kitchen cabinets, new sink and faucet and under sink piping, new painting in all the rooms. It also has new vinly window, new a/c and heat pum in the living room. New water heater and new electrical panels serving all 3 units and with new conduits. Unit 203 B has new painting in all rooms, a newer stove and fridge in 2019, new tile flooring in bathroom. Potential for ADU, corner not. Please do not disturb tenants.
1835 S Alta Vista Avenue in Monrovia, CA is a rare townhome-style multifamily offering consisting of five spacious units, each with 2 bedrooms, 2 bathrooms, private front and rear balconies, private rear patios, and attached two-car garages. The property presents value-add potential through interior renovations to increase rental income and the possible opportunity to pursue a condominium map for individual unit sales (buyer to verify with the city). Located approximately 0.5 miles from Station Square Park and the Metro Rail, and about 2.3 miles from City of Hope on Duarte Road, the property offers strong tenant appeal with convenient access to major freeways and public transportation.
SIGNIFICANT PRICE REDUCTION!! Under single ownership since original construction in 1954, this property has enjoyed good care and maintenance over the years. All units have central A/C, individual water heaters, living room with dining area and nice storage. Carport parking with storage cabinet, one space per unit, is provided, along with Speed Queen coin-op community laundry. Current code compliant railings have been newly installed. Truly a pride of ownership investment opportunity.
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.
