725 Duarte Rd, Monrovia, CA 91016
17 Unit Apartment Building | $5,200,000 ($305,882/Unit) | Monrovia, CA 91016
For Sale
Active
20 pictures
Asking Price $5,200,000
- Property Type
-
Multifamily
- Square Feet
- 15,280 SF
Listing Contacts
Han Widjaja-Chen
- Property Info
Property Overview
Growth Investment Group California is proud to offer CASA DE MONARC - 725 W Duarte Rd, a 17-unit (16 + 1 non-conforming) apartment in the City of Monrovia, California. This is the first time this property has been offered for sale since 1988. Located on Duarte Rd right at the border of City of Arcadia, minutes away from Old Town Monrovia, and adjacent to recently completed new townhomes development, this 1973’s-built apartment presents a rare opportunity for investors to acquire an excellent asset with good bones in an excellent location in West San Gabriel Valley submarket. Priced competitively and without any local rent control ordinance, this value-add opportunity is a rare find for value-add investors who are looking to add value through asset repositioning.
CASA DE MONARC was built in 1973, has a total of 15,280 SF building size and sits on a large ±21,750SF lot. It is strategically located only 2 blocks from the City of Arcadia and minutes away from Old Town Monrovia and Santa Anita Mall Arcadia, offering immense amenities both City of Monrovia and Arcadia have to offer. It offers a superb demographics of ±$121,527 average household income within a mile radius and adjacent to a recently completed high-end townhomes development.
It offers an excellent unit mix of eleven (11) x 2bed+1.5bath Townhouse Style, two (2) x 2bed+1bath, three (3) x 1bed+1bath, and one (1) x Studio non-conforming units. The units are all electric (no gas) and each unit is individually metered for electricity. Each unit (except the Studio NC unit) has a central HVAC (most have been updated) and has a large and spacious layout (average unit size ±898SF/unit – buyer to verify). Most of the units have a private backyard or balcony. Some units have updated windows. Most of the units have not been upgraded and present an excellent Value-add opportunity.
Parking is provided by a total of 21 parking spaces with 8 carports (back), 4 open spaces (back), 6 tuck-under (back), and 3 carports (front) parking. There is no soft-story requirement in Monrovia. Each unit is individually metered for electricity (no gas). The building is serviced by a master water heater and shared laundry room (laundry lease).
CASA DE MONARC was built in 1973, has a total of 15,280 SF building size and sits on a large ±21,750SF lot. It is strategically located only 2 blocks from the City of Arcadia and minutes away from Old Town Monrovia and Santa Anita Mall Arcadia, offering immense amenities both City of Monrovia and Arcadia have to offer. It offers a superb demographics of ±$121,527 average household income within a mile radius and adjacent to a recently completed high-end townhomes development.
It offers an excellent unit mix of eleven (11) x 2bed+1.5bath Townhouse Style, two (2) x 2bed+1bath, three (3) x 1bed+1bath, and one (1) x Studio non-conforming units. The units are all electric (no gas) and each unit is individually metered for electricity. Each unit (except the Studio NC unit) has a central HVAC (most have been updated) and has a large and spacious layout (average unit size ±898SF/unit – buyer to verify). Most of the units have a private backyard or balcony. Some units have updated windows. Most of the units have not been upgraded and present an excellent Value-add opportunity.
Parking is provided by a total of 21 parking spaces with 8 carports (back), 4 open spaces (back), 6 tuck-under (back), and 3 carports (front) parking. There is no soft-story requirement in Monrovia. Each unit is individually metered for electricity (no gas). The building is serviced by a master water heater and shared laundry room (laundry lease).
Property Details
- Class
- B
- Year Built
- 1973
- Stories
- 2
- Lot Size (sq. ft)
- 21,780 SF
- Units
- 17
Highlights
- • First Time ever offered for Sale Since 1988 (36 years – Seller is retiring).
- • One of the best locations in Monrovia bordering the City of Arcadia, minutes from Old Town Monrovia, and adjacent to new townhomes development and s
- • Excellent value-add deals with low price per unit and Proforma CAP Rate ±7.5%!
- • Asset with excellent bones, built in 1973 with large total building area situated on large lot size.
- • Excellent unit mix with ±80% are 2 bedrooms; Large units (avg size ±900SF)
- • NO LOCAL RENT CONTROL• Central HVAC for each unit (except Studio unit) • Large lot size with ample parking (±20 parking spaces)
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