Four-Unit Apartment Property with
New
For Sale
$1,275,000
624 W Foothill, Monrovia, CA 91016
Single-story income property with updated kitchens, parking, and one residence available for occupancy or leasing.
Property Size2,200 SF
Days on Market2
Property Features for 624 W Foothill
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Investment
Units
Multifamily Units
4
Parking per Unit
2
Building Details
Building Size
2,200 SF
Year Built
1951
Buildings
1
Stories
1
Units
4
Listing Agency:
Keller Williams Realty
Listed By:
Espi Bagwell · License #01168881
(626) 824-2267
Source:
Elliman
Added: Sep 19
Last Checked: Sep 20 at 10:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1951, this single-story quadplex contains four 550-square-foot residences with matching layouts that include living rooms, dining areas, and kitchens. One unit is vacant and features hardwood flooring and a modernized kitchen, while the other three have updated kitchens and individual improvements.
The property includes four garage spaces plus tandem parking, providing two dedicated parking spaces per residence. A clean basement offers space for a potential coin-operated laundry installation. Recent work includes a newer roof, exterior painting, and refreshed landscaping. Located at 624 W Foothill in Monrovia, the property records a Walk Score of 85, a Bike Score of 51, and a Transit Score of 56.
The property includes four garage spaces plus tandem parking, providing two dedicated parking spaces per residence. A clean basement offers space for a potential coin-operated laundry installation. Recent work includes a newer roof, exterior painting, and refreshed landscaping. Located at 624 W Foothill in Monrovia, the property records a Walk Score of 85, a Bike Score of 51, and a Transit Score of 56.
Key Highlights
- Four 550‑square‑foot units in a single‑story quadplex
- One vacant residence with hardwood floors and a modern kitchen
- Three additional units feature updated kitchens and individual improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,420
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$768,400
$768.4K
Cap Rate 7%
$548,857
$548.9K
Cap Rate 9%
$426,889
$426.9K
Market Conditions
NOI Build-Up for 2,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.4K $27.00/SF
− Vacancy
−$4.5K −$2.05/SF
EGI
$54.9K $24.95/SF
− OpEx
−$16.5K −$7.48/SF
NOI
$38.4K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$768,400
Cap Rate 7%
$548,857
Cap Rate 9%
$426,889
Alternative Uses
Best Use
Multifamily LT 5
$548.9K
$480.3K – $640.3K
NOI $38,420 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,451 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 91016, CA
41,852
Population
16,171
Households
2.6
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
4,924
Density / Sq Mi
$99,555
Median Household Income
$51,120
Median Earnings
$2,008
Median Rent
$874,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Single-story income property with updated kitchens, parking, and one residence available for occupancy or leasing.
Where is this quadplex located?
The property is located at 624 W Foothill Monrovia, CA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Four 550‑square‑foot units in a single‑story quadplex; One vacant residence with hardwood floors and a modern kitchen; Three additional units feature updated kitchens and individual improvements
