530 Fano St 16,794 SF Flex Condo Unit Offered at $9,698,000 in Monrovia, CA 91016

This is a rare opportunity to acquire a fully leased 12-unit (and one Studio) luxury condominium property located in the highly desirable city of Monrovia, California. This is a unique opportunity to acquire a newer construction, easy to manage income property in highly desirable area of Monrovia.  Built in 2018, each unit offers 3 bedrooms and 3 full baths in each unit and 2 car attached garages with direct access. Unit sizes averages 1,350sf. The property was built with high quality finishes such as modern kitchen cabinets, luxury vinyl floors, dual pane windows, designer lighting, crown moldings, and quartz countertops. The master bedroom has high ceilings, walk in closet, dual sinks in the bathroom, and jet tub. Each unit has security alarm system installed as well as common area security cameras. There are 6 guest parking spaces in the complex. An additional studio space is leased out brining in additional income bringing proforma rents at $550,800 annually. The property is fully subdivided with 12 separate APN’s so each unit can be sold individually. Each unit's utilities are individually metered. Located in Monrovia, a high-demand foothill community with charming neighborhoods, strong schools, and proximity to the Metro Gold Line, the property is minutes from Old Town Monrovia, Huntington Drive retail corridor, and freeway access. Monrovia continues to see high rent demand and strong condo sale prices, supported by limited new supply and rising homeownership interest.