1222 S Magnolia Avenue, Monrovia, CA 91016

$1,395,000
List Price
$1,395,000
Status
ACTIVE
MLS#
AR22168858
Year Built
1949
Lot Size
10,677
Acres
0.2451
Lot Location
Front Yard, Lawn, Landscaped, StreetLevel
Days on Market
12
Property Type
Multifamily
Property Sub Type
Triplex
Stories
Two Levels

Property Description

1222 S Magnolia Ave, a charming triplex just south of Huntington Dr in Monrovia, CA. The property has an excellent location north of FWY210 and just minutes away from Old Town Monrovia on Myrtle Ave. This convenient and excellent location bordering Arcadia offers tenants unparalleled access to area amenities and make this property an easy to rent and operate apartment property. The property was built in 1949 and offers an excellent unit mix of two (2) 3bed+1.5bath, and one (1) 1bed+1bath. It is situated on an oversized lot of 10,679SF which provides ample parking and excellent upside to add ADU units in the back. Each unit is spacious with functional layout with recently updated dual pane windows. Each unit has individual laundry hookups and has individual water heater, electricity and gas. Owner pays for water, trash, and landscaping. The 3rd unit (1bed) has large private backyard. Parking is provided by 2 car garages and open spaces. There are total of 6 parking spaces (3 are tandem) with ability to add more due to its large backyard. The property has front gate and inner gate. There is a large shared backyard that is perfect for new owner to add ADU unit(s) (buyer to check with the city’s planner about this). The property is strategically near Old Town Monrovia and just 2 blocks from Huntinton Drive retail corridor. This location is very convenient providing tenants easy access to retail, dining, shopping and groceries along Huntington Dr. and Myrtle Ave. Many national retailers such as Best Buy, Walmart are located within minutes of this property. This area is adjacent to affluent city like Arcadia. The new owners can enjoy its proximity to FWY 210 and the Monrovia Gold Line. Monrovia is a city located in the foothills of the San Gabriel Mountains in the San Gabriel Valley of Los Angeles County, California, United States. The areas topography offers sweeping mountain views that is unique and stunningly beautiful. The population was 36,590 at the 2010 census. The population is expected to grow and draw professionals as the city of Monrovia is pro expansion and approved a new transit-oriented development taking place near Monrovia’s Gold Line Station. The Monrovia Station has nearly 1.5 million riders per month and as a result, the city has encouraged the development of over 1,000 luxury high-end apartment units within a 2-block radius of the station which is a short walk to the subject property.

Additional Information

Pool Description
None
Heat
Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Garage Spaces Total
2
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
3
Gross Scheduled Income
$56,400
Operating Expense
24880

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Handoko Chen from Listing Office: GIG Real Estate Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.