NOT LISTED FOR SALE

511 E Walnut Ave Monrovia, CA 91016

5 Beds
3 Baths
3 Sq Ft
0.3 Acres

Last Sold March 16, 2020

Last sale price $1,135,000 $378,333 Per Sq Ft

8 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • 5-minute walk to Recreation Park
  • Clifton Middle School Rated A-

About This Home

As of March 2020

Rare sought after triplex located in the heart of Monrovia. This property has 3 detached homes situated on a large approx. 13,205 sq.ft. lot. It is unusual to find a double lot of that size in Monrovia with zoning for 4 units so it’s possible to add another unit. The front house has 2 bedrooms, 1 bath, a spacious living room with excellent natural light, cute kitchen and large laundry room. The 2 other homes share laundry hookup. The second home has 2 bedrooms and 1 bath. The third home has 1 bedroom and 1 bath. The 3 carports at the back of the property have a separate gated entry to Gladys Avenue. The houses are on separate gas and electric meters for each unit and pay their own utilities, thus low maintenance. Owner lives in one unit so you can maximize the rent. Property is conveniently located close to grocery stores, restaurants, Old Town Monrovia, Metro and a short drive to the 210 and 605 freeways. This triplex is primed for any savvy investor to build an additional unit on the property. Please check with the city regarding requirements. Buyers to do their due diligence.

Last Agent to Sell the Property

Stephen Biskup

Sotheby's International Realty License #01854478 Listed on: 02/21/2020

Last Buyer's Agent

Stephen Biskup

United Real Estate Los Angeles License #01854478

United Real Estate Los Angeles

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 0.3 Acre Lot
  • No Common Walls
  • Front Yard Sprinklers

Parking

  • 4 Car Garage

Home Design

  • 3 Sq Ft Home

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 13 / 17
  • Tax Tract Number 17
  • Assessor Parcel Number 8517015026

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 3 Units

Building Details

  • 2 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,629
  • Trash Expense $267
  • Water Sewer Expense $356
  • New Taxes Expense $1,599
  • Operating Expense $3,851
  • Gross Income $27,600
  • Net Operating Income $23,434

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Parking

4

Listing Details

  • Inclusions: javascript:__doPostBack('m_lbSubmit','')
  • Property Attached: No
  • Water Sewer Expenses: 356.00
  • Zoning: MORM*
  • Property Type: Residential Income
  • Parcel Number: 8517015026
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: One

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside, Outside
  • Sewer: Public Sewer
  • Trash Expense: 267.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft, Sprinklers In Front
  • Lot Size Sq Ft: 13208.00
  • Lot Size Acres: 0.3032

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 27600.00
  • Gross Scheduled Income: 27600.00
  • Insurance Expense: 1629.00
  • Lot Size Area: 13208.0000 Square Feet
  • Net Operating Income: 23434.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Operating Expense: 3851.00
  • Rent Control: No
  • Total Expenses: 3851.00

Tax Info

  • New Taxes Expense: 1599.00
  • Tax Block: 17
  • Tax Census Tract: 4311.00
  • Tax Lot: 13
  • Tax Tract Number: 17

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/16/2020 03/16/20 Sold $1,135,000 +5.6% $378,333 / Sq Ft
02/29/2020 02/29/20 Pending -- -- --
02/21/2020 02/21/20 For Sale $1,075,000 -- $358,333 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Stephen Biskup

    Seller's Agent in 2020

    Stephen Biskup

    Sotheby's International Realty

    (626) 428-6010

    1 in this area

    15 Total Sales

    Stephen Biskup
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PF20038997

California Regional Multiple Listing Service (CRMLS)

APN: 8517-015-026

California Los Angeles County Monrovia 91016

511 E Walnut Ave, Monrovia, CA

Not Listed for Sale

MultiFamily

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