Pending

725 W Duarte Road

Monrovia CA, 91016

$5,200,000


$340.31 per sqft

Pending

15,280 sqft

Condo

Built in 1973

Listed by Han Chen with Growth Investment Group Pasade 626-594-4900

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 1973's-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 HVAC (most have been updated) and has a large and spacious layout (average unit size +-898SF/unit - buyer to verify). Most of the units have a private backyard or balcony. Some units have updated windows. Most of the units have not been upgraded and present an excellent Value-add opportunity.

Parking is provided by a total of 21 parking spaces with 8 carports (back), 4 open spaces (back), 6 tuck-under (back), and 3 carports (front) parking. There is no soft-story requirement in Monrovia. Each unit is individually metered for electricity (no gas). The building is serviced by a master water heater and shared laundry room (laundry lease).

AR24101847

MLS ID

May 20, 2024

Listed

June 7, 2024

Updated

Map

725 W Duarte Road
Monrovia CA, 91016

Interior Features

Total Stories

2


Appliances

Electric Range


Laundry Description

Common Area


Floor Description

Laminate, Wood


Fireplace

No


Fireplace Description

None


Cooling

Yes


Cooling Description

Central Air, Wall/Window Unit(s)


Heating

Yes


Heating Description

Central, Wall Furnace

Exterior/Building Features

Lot Size

0.5 Acres


Lot Features

Level, Near Public Transit, Rectangular Lot


Roof

Flat


Sewer

Public Sewer

Other Property Details

Area Name

639 - Monrovia


Days on Market

10


Garage

No


Parking

Assigned, Carport


Parking Total

21


View

Yes


View Description

Mountain(s)


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

MORH*


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

6/1/2024

Pending

Listing Contact: 626-594-4900 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 6/7/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 6/7/2024 at 12:43 AM UTC

 

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