NOT LISTED FOR SALE

244 W Walnut Ave Unit A Monrovia, CA 91016

Estimated Value: $1,409,000 - $1,674,866

9 Beds
5 Baths
2,799 Sq Ft
$540/Sq Ft Est. Value

Last Sold December 07, 2021

Last sale price $1,441,440 $515 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $10,166/month

16 Days on Market

Highlights

  • Converted Garage
  • Monrovia High School Rated A
  • 1-Story Property

About This Home

As of December 2021

We are proud to present 244 W Walnut Avenue located in Monrovia, California. This 2,799 sqft 4-unit multifamily property, built in 1953, sits on over 8,000 sqft of land, and it boasts an excellent unit mix of (3) 2 Bed / 1 Bath units and (1) 3 Bed / 2 Bath unit. The property also has alleyway access at the behind the buildings where there are 4 garage parking spots for the tenants. This offering is an ideal value-add opportunity for an investor looking to capitalize on the more than 50% rental upside potential. Furthermore, an investor would be wise to consider converting the 4 garages in the back into additional units through the new ADUs laws passed in 2020 by the state of California. This property has been well maintained over the seller's 15+ year ownership. Most notably, the seller just replaced the roofs on this property early this year, and that comes with a 30-year warranty which will be transferred to the buyer. Additionally, the seller has remodeled the kitchens and bathrooms in two of the four units, and he has recently treated the property for termites. Lastly, due to the fact that this property has less than 5 units, an investor will be able to lock in a 30-year fixed rate residential loan at today's historically low interest rates, and will also be able to put down as little as 20% or 25% as their down payment.

Last Agent to Sell the Property

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 09/17/2021

Last Buyer's Agent

Ying Sheung Chen

Skyway Investment Corp. License #00958176

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,622

Year Built

  • Built in 1953

Lot Details

  • 8,045 Sq Ft Lot

Interior Spaces

  • 2,799 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Parking

  • 4 Parking Spaces
  • Converted Garage

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 8508-005-040

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,622

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2799
  • Lot Acreage: 0.1847
  • Stories: 1
  • Year Built: 1953
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 525.19

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Converted Garage
  • Total Parking: 4

Lot Info

  • Assessed Improvement Percent: 33.12
  • Assessed Improvement Value: 317672
  • Assessed Land Percent: 66.88
  • Assessed Land Value: 641536
  • Total Assessed Value: 959208
  • Assessor Parcel Number: 8508-005-040
  • Lot Size Area: 8045

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 20.50
  • Number Of Units: 4
  • Total Annual Expense: 26704
  • Type Of Units: Market
  • Vacancy Rate: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 24, 2021
Sold by
Otte Eric C and Otte Cheryl L
Bought by
Hupfauf Anton and Hupfauf Wing Man
Total Days on Market
16
Current Estimated Value
$1,510,467

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$980,000
Interest Rate
3.09%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 12, 2016
Sold by
Otte Eric C
Bought by
Otte Eric C and Otte Cheryl L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$627,500
Interest Rate
3.59%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 23, 2016
Sold by
Otte Eric C
Bought by
Otte Eric C and Otte Cheryl

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$627,500
Interest Rate
3.59%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 3, 2005
Sold by
Otte Eric and Otte Cheryl
Bought by
Otte Eric C
Source: Public Records

Range of Values:

Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hupfauf Anton $1,441,500 Ticor Title Company Of Ca
Otte Eric C -- None Available
Otte Eric C -- None Available
Otte Eric C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hupfauf Anton $980,000
Previous Owner Otte Eric C $578,500
Previous Owner Otte Eric C $627,500
Previous Owner Otte Eric C $77,300
Previous Owner Gray Carolyn J $207,300
Previous Owner Gray Carolyn J $188,000
Previous Owner Gray Carolyn J $162,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/07/2021 12/07/21 Sold $1,441,440 -1.9% $515 / Sq Ft
10/03/2021 10/03/21 Pending -- -- --
09/17/2021 09/17/21 For Sale $1,470,000 -- $525 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $20,622 $1,499,673 $884,340 $615,333
2023 $20,153 $1,470,268 $867,000 $603,268
2022 $19,571 $1,441,440 $850,000 $591,440
2021 $13,579 $969,145 $648,182 $320,963
2019 $12,949 $940,401 $628,957 $311,444
2018 $12,626 $921,963 $616,625 $305,338
2016 $12,839 $941,990 $588,745 $353,245
2015 $12,561 $927,841 $579,902 $347,939
2014 $12,074 $880,000 $571,400 $308,600
Source: Public Records

Agents Affiliated with this Home

  • Filip Niculete

    Seller's Agent in 2021

    Filip Niculete

    Marcus & Millichap

    (818) 357-9525

    1 in this area

    108 Total Sales

    Filip Niculete
    Section Image

  • Y

    Buyer's Agent in 2021

    Ying Sheung Chen

    Skyway Investment Corp.

See All Agents

Map

Source: The MLS

MLS Number: 21-785362

The MLS

APN: 8508-005-040

California Los Angeles County Monrovia 91016

244 W Walnut Ave Unit A, Monrovia, CA

This home is located at 244 W Walnut Ave Unit A, Monrovia, CA 91016 since 17 September 2021 and is currently estimated at $1,510,467, approximately $539 per square foot. This property was built in 1953. 244 W Walnut Ave Unit A is a home located in Los Angeles County with nearby schools including Monroe Elementary School, Santa Fe Computer Science Magnet, and Monrovia High School.

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