Historic Duplex with Detached
For Sale
$1,288,000
163 May Avenue, Monrovia, CA 91016
Two homes feature independent electric and gas meters, shared water service, and convenient access to downtown Monrovia.
Property Size2,200 SF
Days on Market41
Property Features for 163 May Avenue
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Duplex
Building Details
Building Size
2,200 SF
Year Built
1922
Listing Agency:
THE WHITING CO REALTORS, INC.
Listed By:
DaNette Miccolis · License #00988877
Source:
Archetyperealty
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 26 at 2:46PM
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 THE WHITING CO REALTORS, INC.
Investment Insights
Based on property information with market context.
This duplex includes a three-bedroom main residence and a separate one-bedroom dwelling, creating two distinct living spaces on one property. The primary home offers one full bathroom plus a half bath, interior laundry, original hardwood floors, built-in cabinetry, central heating and air conditioning, dual-pane vinyl windows, and an updated electrical system. A small basement area adds storage or utility space. The second residence has a living room with a brick fireplace, a kitchen nook, a built-in china hutch, and a walk-in closet. Both units have separate electricity and gas meters while sharing a water meter.
The property also includes a detached two-car garage and a long driveway for parking. The main structure dates to 1922, while the second dwelling was built in 1953. Located in North Monrovia near downtown, the property combines two separate homes with established residential infrastructure.
The property also includes a detached two-car garage and a long driveway for parking. The main structure dates to 1922, while the second dwelling was built in 1953. Located in North Monrovia near downtown, the property combines two separate homes with established residential infrastructure.
Key Highlights
- Two separate dwelling units: a 3‑bedroom main home and a 1‑bedroom second residence
- Main residence includes 1 1/2 bathrooms, interior laundry, hardwood floors, and built‑in cabinetry
- Second dwelling features a brick fireplace, kitchen nook, built‑in china hutch, and walk‑in closet
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
2.98%
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 2.98%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,451 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,179
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two homes feature independent electric and gas meters, shared water service, and convenient access to downtown Monrovia.
Where is this duplex located?
The property is located at 163 May Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Two separate dwelling units: a 3‑bedroom main home and a 1‑bedroom second residence; Main residence includes 1 1/2 bathrooms, interior laundry, hardwood floors, and built‑in cabinetry; Second dwelling features a brick fireplace, kitchen nook, built‑in china hutch, and walk‑in closet
