Monrovia Apartments | 8 Units (Two 4 630 W Foothill Blvd 8 Unit Apartment Building $2,595,000 ($324,375/Unit) 4.06% Cap Rate Monrovia, CA 91016

RARE MONROVIA MULTIFAMILY OFFERING! Offered to the market is the opportunity to acquire a 100% occupied 8-unit multifamily property ideally located along Foothill Boulevard in the desirable Monrovia submarket of the San Gabriel Valley. The property consists of two separately parceled single story 4-unit buildings, offering flexible financing options and potential future exit optionality.
The asset features single-story 1-bedroom, 1-bathroom units with both front and rear access, supporting tenant appeal and efficient management. Each building includes four garage spaces plus tandem parking, providing two spaces per unit. The two buildings have a shared washer and dryer room generating additional income.
Current average rents of approximately $1,700 per month remain well below market rents exceeding $2,100 per month, representing roughly 25%+ upside. One recently leased unit has already achieved market rent, validating the repositioning opportunity.
Recent exterior capital improvements include new roofing, exterior paint, and landscaping. Four of the units have received interior upgrades including kitchens, bathrooms, flooring, appliances, fixtures, and finishes.
The property benefits from Monrovia’s favorable rent control structure, only following California AB 1482 guidelines without additional local restrictions. Located near Old Town Monrovia, shopping, dining, and major commuter routes, the asset offers a compelling value-add opportunity with strong upside potential in a highly desirable rental market.