Fourplex Residential Income
For Sale
Contact for pricing
Pending
322-324 S Lincoln Place, Monrovia, CA 91016
Well-maintained 1954 four-plex arranged as two buildings with private outdoor space and dedicated unit storage.
Property Size3,120 SF
Days on Market62
Property Features for 322-324 S Lincoln Place
General Information
Standard status
Pending
Size
3,120 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
Public Rec
Additional Details
Multifamily Units
4
Building Details
Year Built
1954
Buildings
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway Home Servic
Listed By:
Matt McIntyre · License #01844466
Source:
Crexi
Added: Jul 7
Changed: Aug 8
Last Checked: Jul 26 at 7:10AM
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 Berkshire Hathaway Home Servic
Investment Insights
Based on property information with market context.
Built in 1954, this well-maintained four-plex is arranged as two separate buildings, each containing two residences. Mature landscaping, garden paths, and private outdoor spaces help define the setting, with views toward the surrounding foothills. The two front units are one-bedroom, one-bath residences with an inviting living room, spacious kitchen, generous bedroom, and an updated bath. The rear building offers two larger homes: the lower unit includes an oversized living room, in-unit laundry, and a remodeled kitchen with recessed lighting, granite countertops, and a breakfast nook, plus a private deck and patio accessed through a large glass door. The upstairs residence features three bedrooms and two baths, generous living and dining spaces, remodeled bathrooms, an updated kitchen, central heat and air, and foothills views.
Three of the four units have off-street parking, and the property’s three original one-car garages have been converted into storage lockers, providing dedicated storage space for each unit.
The offering at 322–324 S Lincoln Place, Monrovia, includes updates and long-term care across the property’s interiors and shared outdoor setting.
Three of the four units have off-street parking, and the property’s three original one-car garages have been converted into storage lockers, providing dedicated storage space for each unit.
The offering at 322–324 S Lincoln Place, Monrovia, includes updates and long-term care across the property’s interiors and shared outdoor setting.
Key Highlights
- 1954 four‑plex built as two separate buildings with 4 residences and approximately 3,120 SF
- Front units: two bright 1‑bedroom, 1‑bath residences with living room, spacious kitchen, generous bedroom, and updated bath
- Rear lower unit: remodeled kitchen with recessed lighting and granite countertops, in‑unit laundry, and private deck and patio
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
$54,486
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
3.45%
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%
$1,089,720
$1.1M
Cap Rate 7%
$778,371
$778.4K
Cap Rate 9%
$605,400
$605.4K
Market Conditions
NOI Build-Up for 3,120 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
$84.2K $27.00/SF
− Vacancy
−$6.4K −$2.05/SF
EGI
$77.8K $24.95/SF
− OpEx
−$23.4K −$7.48/SF
NOI
$54.5K $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%
$1,089,720
Cap Rate 7%
$778,371
Cap Rate 9%
$605,400
Alternative Uses
Best Use
Multifamily LT 5
$778.4K
$681.1K – $908.1K
NOI $54,486 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$717.2K
$627.5K – $836.7K
NOI $50,203 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,931 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,860
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?
Quadplex - Well-maintained 1954 four-plex arranged as two buildings with private outdoor space and dedicated unit storage.
Where is this quadplex located?
The property is located at 322-324 S Lincoln Place Monrovia, CA.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: 1954 four‑plex built as two separate buildings with 4 residences and approximately 3,120 SF; Front units: two bright 1‑bedroom, 1‑bath residences with living room, spacious kitchen, generous bedroom, and updated bath; Rear lower unit: remodeled kitchen with recessed lighting and granite countertops, in‑unit laundry, and private deck and patio
