Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Two Homes on One Lot Title is generated by Realmo AI

    244 E Lime, Monrovia, CA 91016

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two separate homes on one lot in Old Town Monrovia.

    Type:Multifamily
    Added:
    Mar 17, 2026
    Days on Market:
    57
    Last Refresh:
    Mar 19 at 9:16 pm

    Property Features for 244 E Lime

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Min Yang

    Listing agent Min Yang License #01344219

    Listing office Min Yang

    Listing date Mar 17, 2026

    Source Crexi

    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 Min Yang

    HighLights

    • Two separate homes on one lot in Old Town Monrovia.
    • Steps from Myrtle Avenue shops, restaurants, farmers market, and entertainment.
    • Newly remodeled rear house featuring new paint, flooring, and kitchen, plus a new garage door.
    • Each unit has its own laundry room and yard.
    • Zoned RM3500, suitable for redevelopment or ADU addition (buyer to verify).
    • Front unit has a long‑term tenant; back unit is vacant.

    Overview

    This property features two separate homes on one lot, situated in the heart of Old Town Monrovia, steps from Myrtle Avenue's shops, restaurants, farmers market, and entertainment. The front house is a craftsman style with 2 bedrooms plus a den and 1 bath, and has been upgraded. The rear house has 2 bedrooms and 1 bath (title shows 1 bedroom 1 bath) with a detached 1-car garage. The rear house has been newly remodeled with new paint inside and out, new vinyl plank flooring, a new kitchen counter, backsplash, and sink, new blinds, new faucets, and a new garage door. Both units have their own laundry room and yard. The back house includes a 1-car garage. Additional parking is available with alley access. The front unit is currently occupied by a long-term tenant, while the back unit is vacant. Zoned RM3500, the property is suitable for redevelopment or ADU addition (buyer to verify).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monrovia
    County
    Los Angeles
    State
    California
    Longitude
    -117.9969542
    Latitude
    34.1478079

    Nearby Similar for Sale

    • $2,250,000
      3,388 SF

      Commercial Building in Monrovia, CA

      Commercial building with potential for owner-user or investor.
      340 W Foothill, Monrovia, CA 91016
      View Details
    • $1,175,000
      2,660 SF

      Monrovia Commercial Property For Sale

      Corner lot with great exposure, ideal for various business uses.
      1601 California Avenue, Monrovia, CA 91016
      View Details
    • $799,000
      1,075 SF

      Monrovia Duplex: Investor Opportunity

      Charming duplex near Old Town Monrovia with income potential.
      520 W Lemon Avenue, Monrovia, CA 91016
      View Details
    • $1,418,000
      2,684 SF

      Monrovia Duplex with New ADU

      Duplex with a new construction ADU, ideal for rental.
      2451 Graydon Avenue, Monrovia, CA 91016
      View Details
    • $974,000
      1,656 SF

      Charming Duplex in North Monrovia

      Desirable North Monrovia duplex with two units and ample amenities.
      223 N Mountain, Monrovia, CA 91016
      View Details
    • $1,200,000
      1,909 SF

      Monrovia Triplex Near Old Town

      Triplex in Monrovia near Old Town, shops, and transportation.
      709 S Magnolia, Monrovia, CA 91016
      View Details
    • $1,190,000
      1,402 SF

      Remodeled Home with Mountain Views

      Remodeled 2 bed, 2 bath home with attached jadu.
      402 Lotone Street, Monrovia, CA 91016
      View Details
    • $850,000
      1,542 SF

      Monrovia Commercial Property For Sale

      Commercial property in a desirable Monrovia location with parking.
      440 W Foothill Boulevard, Monrovia, CA 91016
      View Details
    • $2,250,000

      Commercial Building with Business Option

      Commercial building with optional dry cleaning business acquisition.
      340 W Foothill, Monrovia, CA 91016
      View Details
    • $1,175,000
      600 SF

      Corner Lot Repair Shop

      Corner lot property with repair shop and parking.
      1601 California Ave, Monrovia, CA 91016
      View Details
    • $3,900,000
      17,691 SF

      Monrovia Mixed-Use Building For Sale

      Two-story mixed-use building in Old Town Monrovia with retail and offices.
      501 S Myrtle Avenue, Monrovia, CA 91016
      View Details
    • $1,875,000

      Corner Industrial Building Near Freeway

      Industrial building with loading doors, near freeway and metro.
      1601 Raymond Avenue, Monrovia, CA 91016
      View Details

    FAQs

    What type of property is this?
    Duplex - Two separate homes on one lot in Old Town Monrovia.
    Where is this duplex located?
    The property is located at 244 E Lime Monrovia, CA.
    What is the asking price?
    The asking price for this property is $980,000.
    What are key features of this property?
    This property features: Two separate homes on one lot in Old Town Monrovia.; Steps from Myrtle Avenue shops, restaurants, farmers market, and entertainment.; Newly remodeled rear house featuring new paint, flooring, and kitchen, plus a new garage door.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Min Yang
    Real Estate License ID: 01344219
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    244 E Lime, Monrovia, CA 91016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!