Duplex with Junior
For Sale
$2,050,000
400 Prospect Avenue, Monrovia, CA 91016
Two full residences and a permitted junior ADU provide flexible multigenerational or rental living arrangements.
Property Size4,208 SF
Lot Size0.24 Acres
Price / SF$487.17
Days on Market25
Property Features for 400 Prospect Avenue
General Information
Standard status
Active
Size
4,208 SF
Lot size
0.24 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA, 1 x 1BR/3/4BA
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
central heat and air
covered patio
mature landscaping with fountain
Building Details
Building Size
4,208 SF
Year Built
1946
Buildings
1
Stories
2
Listing Agency:
High Ten Partners, Inc.
(626) 202-6446
Listed By:
Shumei Kam · License #00798181
Source:
Velocityrealtysd
Added: Jul 23
Changed: Aug 14
Last Checked: Aug 16 at 3:36PM
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 High Ten Partners, Inc.
Investment Insights
Based on property information with market context.
Built in 1946, this two-story duplex includes two full residences along with a permitted junior ADU on the lower level. The upper home has three bedrooms, two baths, a family room, and a central anteroom. The lower residence includes a bedroom, full bath, family room, island kitchen, dedicated laundry room, and substantial storage. The junior ADU has a private entrance, kitchen, den, bedroom, and three-quarter bath. Central heat and air serve the property.
Set on a 10,451-square-foot corner lot at Prospect Avenue and Hill Street, the property includes a detached two-car garage, carport, covered patio, mature landscaping, and a fountain. Its Monrovia setting is minutes from Old Town and the foothills.
Set on a 10,451-square-foot corner lot at Prospect Avenue and Hill Street, the property includes a detached two-car garage, carport, covered patio, mature landscaping, and a fountain. Its Monrovia setting is minutes from Old Town and the foothills.
Key Highlights
- Two‑story 1946 duplex with two full residences and a permitted junior ADU
- Upper residence includes 3 bedrooms, 2 baths, family room, and central anteroom
- Lower residence offers a bedroom, full bath, island kitchen, laundry room, and storage
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
$73,487
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
3.58%
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%
$1,469,740
$1.5M
Cap Rate 7%
$1,049,814
$1.0M
Cap Rate 9%
$816,522
$816.5K
Market Conditions
NOI Build-Up for 4,208 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
$113.6K $27.00/SF
− Vacancy
−$8.6K −$2.05/SF
EGI
$105.0K $24.95/SF
− OpEx
−$31.5K −$7.48/SF
NOI
$73.5K $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%
$1,469,740
Cap Rate 7%
$1,049,814
Cap Rate 9%
$816,522
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$918.6K – $1.22M
NOI $73,487 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$967.3K
$846.4K – $1.13M
NOI $67,710 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,706 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
352
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 full residences and a permitted junior ADU provide flexible multigenerational or rental living arrangements.
Where is this duplex located?
The property is located at 400 Prospect Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Two‑story 1946 duplex with two full residences and a permitted junior ADU; Upper residence includes 3 bedrooms, 2 baths, family room, and central anteroom; Lower residence offers a bedroom, full bath, island kitchen, laundry room, and storage
