Contact Us
Details
Proforma CAP Rate 7.5% in a NO Local Rent Control Area - First Time for Sale Since 1988! CASA DE MONARC - 725 W Duarte Rd, a 17-unit (16 + 1 non-conforming) apartment in the City of Monrovia, California. This is the first time this property has been offered for sale since 1988. Located on Duarte Rd right at the border of City of Arcadia, minutes away from Old Town Monrovia, and adjacent to recently completed new townhomes development, this 1973s-built apartment presents a rare opportunity for investors to acquire an excellent asset with good bones in an excellent location in West San Gabriel Valley submarket. Priced competitively and without any local rent control ordinance, this value-add opportunity is a rare find for value-add investors who are looking to add value through asset repositioning. CASA DE MONARC was built in 1973, has a total of 15,280 SF building size and sits on a large 21,750SF lot. It is strategically located only 2 blocks from the City of Arcadia and minutes away from Old Town Monrovia and Santa Anita Mall Arcadia, offering immense amenities both City of Monrovia and Arcadia have to offer. It offers a superb demographics of $121,527 average household income within a mile radius and adjacent to a recently completed high-end townhomes development. It offers an excellent unit mix of eleven (11) x 2bed+1.5bath Townhouse Style, two (2) x 2bed+1bath, three (3) x 1bed+1bath, and one (1) x Studio non-conforming units. The units are all electric (no gas) and each unit is individually metered for electricity. Each unit (except the Studio NC unit) has a central HVPROPERTY FEATURES
Number of Units : 17
Unit 1 : Number of Unit(s) : 1
Unit 1 : Total Bedrooms : 2
Unit 1 : Total Bathrooms : 2
Unit 2 : Number of Unit(s) : 2
Unit 2 : Total Bedrooms : 2
Unit 2 : Total Bathrooms : 1
Unit 3 : Number of Unit(s) : 3
Unit 3 : Total Bedrooms : 1
Unit 3 : Total Bathrooms : 1
Unit 4 : Number of Unit(s) : 4
Unit 4 : Total Bathrooms : 1
Number of Units with Range/Oven : 17
Neighborhood : Arcadia adjacent
Parking Garage Unit 1 : Assigned
Cooling : Central Forced Air,Wall/Window
Zoning : Assessor
PROPERTY DETAILS
Street Address: Address not disclosed
City: Monrovia
State: California
Postal Code: 91016
County: Los Angeles
MLS Number: AR24101847
Courtesy of Growth Investment Group Pasade
City: Monrovia
State: California
Postal Code: 91016
County: Los Angeles
MLS Number: AR24101847
Courtesy of Growth Investment Group Pasade
Similar Properties
$8,100,000
Courtesy of CB RICHARD ELLIS
$8,100,000
Courtesy of CB RICHARD ELLIS
$5,200,000
Courtesy of Growth Investment Group Pasade