Remodeled Duplex with 4-Car
For Sale
Contact for pricing
Pending
415 E Walnut Avenue, Monrovia, CA 91016
Remodeled duplex offers two units with enclosed patio space and updated kitchens, plus a four-car garage behind the rear unit.
Property Size2,023 SF
Days on Market173
Property Features for 415 E Walnut Avenue
General Information
Standard status
Pending
Size
2,023 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
Assessor
Additional Details
Multifamily Units
2
Building Details
Buildings
2
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(626) 393-5695
Listed By:
Ash Rizk · License #01503342
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Jul 24 at 2:42PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This remodeled duplex features two residences, each with 3 bedrooms and 1 fully updated bath. Both interiors have been refreshed with new flooring, fresh paint, and recessed lighting, with living rooms that include French doors to an enclosed patio area for additional flexible space. Kitchens have been updated with new cabinetry and countertops and include dedicated breakfast nook areas, with a separate dining area just off the living room. Each unit presents a cohesive, move-in-ready finish package with the bathrooms tastefully remodeled.
The property sits just moments from Old Town Monrovia’s restaurants, shops, and neighborhood amenities, and is described as within walking distance to the area’s offerings.
A four-car garage is located behind the rear unit, providing separated parking for both residences.
The property sits just moments from Old Town Monrovia’s restaurants, shops, and neighborhood amenities, and is described as within walking distance to the area’s offerings.
A four-car garage is located behind the rear unit, providing separated parking for both residences.
Key Highlights
- Remodeled duplex with two units, each featuring 3 bedrooms and 1 fully updated bathroom
- Front unit includes 996 SF; rear unit includes 1,027 SF of living space
- Both units refreshed with new flooring, fresh paint, and recessed lighting
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
$35,329
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
3.54%
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%
$706,580
$706.6K
Cap Rate 7%
$504,700
$504.7K
Cap Rate 9%
$392,544
$392.5K
Market Conditions
NOI Build-Up for 2,023 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
$54.6K $27.00/SF
− Vacancy
−$4.2K −$2.05/SF
EGI
$50.5K $24.95/SF
− OpEx
−$15.1K −$7.48/SF
NOI
$35.3K $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%
$706,580
Cap Rate 7%
$504,700
Cap Rate 9%
$392,544
Alternative Uses
Best Use
Multifamily LT 5
$504.7K
$441.6K – $588.8K
NOI $35,329 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$465.0K
$406.9K – $542.5K
NOI $32,552 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.08M
$947.7K – $1.26M
NOI $75,817 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,451
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 - Remodeled duplex offers two units with enclosed patio space and updated kitchens, plus a four-car garage behind the rear unit.
Where is this duplex located?
The property is located at 415 E Walnut Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Remodeled duplex with two units, each featuring 3 bedrooms and 1 fully updated bathroom; Front unit includes 996 SF; rear unit includes 1,027 SF of living space; Both units refreshed with new flooring, fresh paint, and recessed lighting
