NOT LISTED FOR SALE

123 N Myrtle Ave Monrovia, CA 91016

20 Beds
12 Baths
15,540 Sq Ft
0.49 Acres

Last Sold February 10, 2021

Last sale price $4,250,000 $273 Per Sq Ft

19 Days on Market

Highlights

  • 0.49 Acre Lot
  • Mayflower Elementary School Rated A
  • Laundry Room

About This Home

As of February 2021

Rare 14 Unit multi-family asset available for purchase in north Monrovia with an irreplaceable location less than 1 block to Old Town Monrovia! Owned and meticulously maintained by the same family for over 30+ years, the subject property offers a desirable unit mix, significant upside in rental income, and a Grade A location steps to dining, shopping, and city services. The unit mix is comprised of two (2-Bedroom/1-½ Bathroom) two-story townhouse-style units, and twelve (2-Bedroom/1-Bathroom) units. Most units offer either a private patio on the ground floor or a private balcony off the second floor. Total rentable square footage is 15,540 situated on 3 separate lots for a grand total of 21,224 sqft of land. Tenants enjoy onsite car-port parking, onsite laundry facility, and wall A/C & Heat. Priced at 15 GRM and 4.5% CAP Rate (on actual current rents) this investment opportunity is poised for a new buyer looking for a pride of ownership location, that offers a promising future of further rent growth and appreciation, and that warrants further capital improvement to increase the overall quality and value of the asset.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 11/18/2020

RE/MAX 2000 REALTY

Last Buyer's Agent

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 11/18/2020

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.49 Acre Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre
  • 8519-023-014,8519-023-015

Home Design

  • 15,540 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 12 Bathrooms

Parking

  • 14 Parking Spaces
  • 14 Carport Spaces

Additional Features

  • Laundry Room
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 8 / C
  • Tax Tract Number 29
  • Assessor Parcel Number 8519023016

Community Details

Overview

  • 2 Buildings
  • 14 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $517
  • Fuel Expense $280
  • Insurance Expense $6,216
  • Maintenance Expense $10,500
  • Other Expense $2,100
  • Trash Expense $4,866
  • Water Sewer Expense $6,737
  • New Taxes Expense $50,100
  • Operating Expense $81,316
  • Gross Income $278,040
  • Net Operating Income $188,383

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • CapRate: 4.51
  • Property Attached: Yes
  • Water Sewer Expenses: 6737.00
  • Zoning: MORH*
  • Property Type: Residential Income
  • Parcel Number: 8519023016
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 273.49

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 14.00
  • Total Parking Spaces: 14.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community, Inside
  • Sewer: Public Sewer
  • Trash Expense: 4866.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Additional Parcels Description: 8519-023-014,8519-023-015
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 21224.00
  • Lot Size Acres: 0.4872

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 517.00
  • Fuel Expense: 280.00
  • Gross Income: 278040.00
  • Gross Multiplier: 15.02
  • Gross Operating Income: 269699.00
  • Gross Scheduled Income: 278040.00
  • Insurance Expense: 6216.00
  • Laundry Income: 3000.00
  • Lot Size Area: 21224.0000 Square Feet
  • Maintenance Expense: 10500.00
  • Net Operating Income: 188383.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 81316.00
  • Other Expense: 2100.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 81316.00
  • Vacancy Allowance: 8341

Tax Info

  • New Taxes Expense: 50100.00
  • Tax Block: C
  • Tax Census Tract: 4303.02
  • Tax Lot: 8
  • Tax Tract Number: 29-34

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/10/2021 02/10/21 Sold $4,250,000 +1.8% $273 / Sq Ft
12/07/2020 12/07/20 Pending -- -- --
11/18/2020 11/18/20 For Sale $4,175,000 -- $269 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kristopher German

    Seller's Agent in 2021

    Kristopher German

    RE/MAX

    (909) 645-0443

    6 in this area

    119 Total Sales

    Kristopher German
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV20242177

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Monrovia 91016

123 N Myrtle Ave, Monrovia, CA

This home is located at 123 N Myrtle Ave, Monrovia, CA 91016 since 18 November 2020. This property was built in 1962. 123 N Myrtle Ave is a home located in Los Angeles County with nearby schools including Mayflower Elementary School, Clifton Middle School, and Monrovia High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes