501 S Myrtle Ave Monrovia, CA 91016

Located in the heart of Old Town Monrovia, this two-story mixed-use building at 501 S Myrtle Avenue features retail and office spaces. The 17,691 square foot building includes 6,174 square feet on the first floor, 5,548 square feet on the second floor, and 5,969 square feet in the basement level. The basement is currently rented as executive offices and storage areas. The property is situated at the signalized intersection of Myrtle and Lemon, a heavily pedestrian-oriented shopping destination known for its weekly farmers market and restaurants. The building is zoned HCD- Historic Commercial Downtown. It features fire sprinklers, six common area restrooms, three private restrooms, two kitchens, and two janitor closets. The property has been recently upgraded with newer flooring and storefronts. There are currently 39 tenants. Many office suites are leased month-to-month with below-market rents, presenting an opportunity for investors to increase rental income. The property is surrounded by high-density residential areas, including The Colorado Commons with seventy-two units. A parking structure with over 180 spaces is available for public use. The Santa Anita Race Track and Westfield Mall are located 3 miles away, and the Monrovia Gold-line station is about 1 mile south. Access to the 210 and 605 freeways is available via Myrtle Avenue.