609 W Foothill Blvd Monrovia, CA 91016
Highlights
- Property is near a park
- Cooling System Mounted To A Wall/Window
- Rectangular Lot
- Mayflower Elementary School Rated A
- Laundry Room
- Wall Furnace
About This Home
As of March 2025Prime Investment Opportunity –Don’t miss this exclusive opportunity to acquire a well-maintained, low-operating-cost 8-unit apartment building in the heart of Monrovia—a thriving rental market known for strong appreciation, excellent schools, and a robust job market. This fully leased property features a desirable unit mix of spacious 1-bed/1-bath (600 sqft) and 2-bed/1-bath (850 sqft) units. Positioned in a high-growth, centrally located area, this asset offers easy access to shopping, dining, entertainment, and major employment hubs. This property offers easy access to City of Hope, Arcadia, Azusa, Pasadena, and Downtown LA via nearby freeways and the Metro Gold Line. Additional amenities include onsite laundry and four double-car garages, adding convenience and value. With a proven income history, strong rental demand, and significant value-add potential, this property presents an ideal 1031 exchange opportunity or a strategic addition to your investment portfolio. Take advantage of low vacancy rates, potential for increased rents, and long-term appreciation in one of LA County’s most sought-after rental markets. A rare opportunity for investors looking for stability, growth, and excellent returns!
Last Agent to Sell the Property
Magnolia Realty Brokerage Phone: 626-627-9015 License #01845360
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1953
Lot Details
- 9,145 Sq Ft Lot
- Two or More Common Walls
- Rectangular Lot
Parking
- 8 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Apartment
Interior Spaces
- 5,790 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
Location
- Property is near a park
- Property is near public transit
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 9
- Tax Tract Number 430
- Assessor Parcel Number 8504015017
- Seller Considering Concessions
Community Details
Building Details
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $360
- Fuel Expense $360
- Gardener Expense $3,057
- Insurance Expense $14,681
- Maintenance Expense $579
- Pest Control $1,111
- Professional Management Expense $1,146
- Supplies Expense $536
- Trash Expense $3,280
- Water Sewer Expense $4,800
- Operating Expense $30,392
- Gross Income $139,560
- Net Operating Income $86,198
Additional Features
- 8 Units
- Laundry Facilities
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/25/2025 03/25/25 | Sold | $1,905,000 | -11.4% | $329 / Sq Ft |
| 03/05/2025 03/05/25 | Pending | -- | -- | -- |
| 02/10/2025 02/10/25 | For Sale | $2,150,000 | -- | $371 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PF25030671
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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
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