406 S 5th Avenue, Monrovia, CA 91016
- $2,500,000
- List Price
- $2,500,000
- Status
- ACTIVE
- MLS#
- AR26136583
- Year Built
- 1948
- Lot Size
- 11,320
- Acres
- 0.26
- Lot Location
- Near Park, Near Public Transit
- Days on Market
- 31
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
Prime 6-Unit Investment Opportunity in Highly Desirable Location — NO CITY RENT CONTROL! Welcome to an exceptional, turnkey multi-family investment property situated in a highly sought-after neighborhood just North of Colorado Blvd and South of Foothill Blvd. Impeccably maintained and boasting a phenomenal rental history with 100% occupancy ("always rented"), this complex offers a rare combination of immediate cash flow and hassle-free management. The Unit Mix & Layout: Four (4) 2-Bedroom / 1-Bathroom Units: Approximately 650 sq. ft. each. These highly desirable, single-story ground-level units are attached in the front of the complex. They feature private rear patios. Two (2) 1-Bedroom / 1-Bathroom Units: Approximately 500 sq. ft. each. Quietly situated above the rear carport area. Extensive Modern Upgrades: Five of the six front units have undergone complete, high-end renovations designed to attract top-tier tenants. Upgrades in these units include: Climate & Efficiency: Central heat and air for year-round comfort (one unit features a window AC), plus energy-efficient tankless water heaters. Interior Finishes: Beautiful laminate flooring, recessed lighting, elegant crown molding, and modern ceiling fans. Gourmet Kitchens: Upgraded with sleek quartz countertops and premium stainless steel appliances (including refrigerator, range, and microwave). Luxury Baths: Thoughtfully remodeled featuring a shower-over-tub enclosed with a sleek glass door. Property Amenities: Parking: 6 covered carport spaces at the rear of the property (1 dedicated space per unit). Laundry: Convenient on-site, coin-operated laundry room equipped with 1 washer and 1 dryer (additional income stream). Location: Perfectly positioned close to premier shopping, vibrant dining options, and major thoroughfares. This is a true pride-of-ownership property in a fantastic area. With no city rent control and units consistently in high demand, this is a golden opportunity to add a high-performing asset to your real estate portfolio. PLEASE NOTE: DRIVE-BY ONLY. DO NOT DISTURB TENANTS UNDER ANY CIRCUMSTANCES.
Additional Information
- Taxes
- $24,830
- Appliances
- Gas Range, Microwave, Tankless Water Heater
- Pool Description
- None
- Heat
- Central, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Central Air, Wall/Window Unit(s)
- View
- City Lights, Mountain(s)
- Exterior Construction
- Stucco
- Roof
- Composition
- Sewer
- Unknown
- Water
- See Remarks
- Interior Features
- Ceiling Fan(s), Quartz Counters, Utility Room
- Attached Structure
- Attached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $169,080
- Operating Expense
- 52376
Listing courtesy of Listing Agent: Julie Bencosme (Julie@C21Village.com) from Listing Office: Century 21 Village Realty.
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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.