140-142 1/2 Melrose Ave. | Monrovia, CA 91016
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140-142 1/2 Melrose Ave.
Monrovia, CA 91016
No Local Rent Control with 55% Rent Upside · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Outstanding Monrovia Location -- Surrounded by Million Dollar Homes in Foothills of San Gabriel Mountains
- Not Subject to Local Rent Control -- Higher Allowable Rent Increases
- Rare Offering -- Only Six Quadruplexes North of Foothill Boulevard Have Sold in Last Decade
- Significant Income Upside -- Existing Rents Approximately 55% Below Market Rates
- Individual Bungalow Units, Each with In-Unit Washer/ Dryer
- Substantial Upgrades -- 75% of Units Feature Wood Vinyl Flooring, Copper Plumbing, Updated Electrical, and Remodeled Bathrooms
Property Facts
| No. Units | 4 | Lot Size | 0.21 AC |
| Property Type | Multifamily | Building Size | 2,360 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 1 |
| Building Class | C | Year Built | 1924 |
| Zoning | R2, Monrovia | ||
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 2,360 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1924 |
| Zoning | R2, Monrovia |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,271 | 520 |
| 2+1 | 2 | $1,494 | 660 |
Property Taxes
| Parcel Number | 8504-003-025 | Improvements Assessment | $645,048 |
| Land Assessment | $780,300 | Total Assessment | $1,425,348 |
Property Taxes
Parcel Number
8504-003-025
Land Assessment
$780,300
Improvements Assessment
$645,048
Total Assessment
$1,425,348
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