Exclusive Listings

north Monrovia Fourplex across from Downtown Monrovia

Address:
167 N Myrtle Ave
Monrovia, CA 91016
Price:
$1,590,000
Status:
Taking Backups
Type:
Apartment
# Units:
4
Year Built:
1890
Building Size:
3,133 SF
Lot Size:
9,329 SF
CAP Rate:
3.50%
GRM:
18.66x
Price/Unit:
$395,000
Price/SqFt:
$508

HIGHLIGHTS

  • LOCATION, LOCATION, LOCATION! Best Location in Monrovia, north Monrovia by the foothills of San Gabriel Mountains!
  • Across the street from Old Town Monrovia on Myrtle Ave! Walk to shopping, dining and entertainment!
  • Vintage building built in 1890s with charming characters in each unit!
  • Easy to rent due to its location’s quality and easy to manage
  • Strong demographics with an average household income of ±$115,998 within a-mile radius
  • Walk Score 78 (very walkable) location
  • 5 total open parking spaces, no soft story retrofit required!
  • Three units have been upgraded in some ways
  • All units separately metered for electricity and gas; laundry machines are seller’s own
  • Excellent access to FWY 210

 

EXECUTIVE SUMMARY

Growth Investment Group is proud to present 167 N Primrose Ave, Monrovia; a vintage building built in 1890 that is in the best location of Monrovia. It is in north Monrovia by the foothills of San Gabriel Mountain and just across the street from Downtown Monrovia! The property is surrounded by high-priced single-family houses and close to walking and hiking trail. Various small cafes, and coffee shops are literally within less than a minute away from this property.

The building is a 2 story Victorian style that was built in 1890. It is situated on ±9,329 SF lot. It consists of 4 units with 2 units on ground floor and 2 units above it. Each unit is special and charming with high ceiling and many characteristics a vintage building has such as wall paneling, solid wood doors, dens, private decks, and others. Each unit is airy, large, and bright with high-ceiling and recent new upgrades. Both 2nd floor units have private balcony/deck which gives an atmosphere of you living in a tree house as the property has many large and mature trees (avocado, redwood, palm, and oak trees).

Each unit is bright with many windows and charming characters that you would find in an 1890's vintage building. Three unit has been thoroughly upgraded with luxury wood flooring, smooth and high ceiling, mini-split A/C and heating unit, private balcony with views, new interior paint, recessed lighting, stainless steel kitchen range, and ceiling fans. Although upgraded, seller maintained the unit's charm such as wall paneling, kitchen pantry, old-style door locks, etc.

The property has five open parking space in the back and shared laundry room (seller owns the machines). The building is separately metered for electricity and gas.

 LOCATION AMENITIES AND ACCESS

The property is strategically located in the north Monrovia area, considered to be one of the best locations in Monrovia. This area is adjacent to the City of Arcadia. The property is across the street from Downtown Monrovia which housed many mom and pop stores along with national retailers and many small restaurants and cafes. Tenants can enjoy its proximity to FWY 210.

Monrovia is a city located in the foothills of the San Gabriel Mountains in the San Gabriel Valley of Los Angeles County, California, United States. The population was 36,590 at the 2010 census, down from 36,929 in 2000. Monrovia has been used for filming TV shows, movies and commercial.




Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com


Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2018 GIG Real Estate, Inc. dba. Growth Investment Group - Corp. ID 02021933
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