Multifamily Property with Bonus
New
For Sale
$1,398,888
615 /617 Wildrose, Monrovia, CA 91016
Front residence and rear rental units offer multiple living spaces with updated interiors, private laundry, and dedicated parking.
Property Size2,545 SF
Days on Market7
Property Features for 615 /617 Wildrose
General Information
Standard status
Active
Size
2,545 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR, 1 x studio
Multifamily Units
4
Additional Details
Public Transit
No
Amenities
private laundry room
solar system
Building Details
Building Size
2,545 SF
Year Built
1910
Stories
2
Units
4
Listing Agency:
Berkshire Hathaway HomeServices California Properties
Listed By:
Debbie Pock · License #01024739
(626) 824-4114
Source:
Elliman
Added: Sep 12
Last Checked: Sep 16 at 4:48PM
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 HomeServices California Properties
Investment Insights
Based on property information with market context.
This multifamily property combines a separate front residence with a rear triplex configuration that includes two one-bedroom units and a bonus studio. The front home offers three bedrooms and two bathrooms. Select interiors have been renovated with granite countertops, updated cabinetry, and upgraded bathrooms. Rear units feature wall heaters and wall-mounted air conditioning, while the front residence has central air and heat plus a tankless water heater.
A coded-access laundry room serves the three rear units. The property also includes a paid solar system installed in 2014 that supplies electricity to those units, along with landlord-owned refrigerators, stoves, and microwaves. Parking is provided on a pad with one space each for Units B and C. Built in 1910, the property is near Aldi, HomeGoods, and downtown Monrovia, with access to shopping and neighborhood amenities. The site is car-dependent, with a Walk Score of 5 and no nearby transit.
A coded-access laundry room serves the three rear units. The property also includes a paid solar system installed in 2014 that supplies electricity to those units, along with landlord-owned refrigerators, stoves, and microwaves. Parking is provided on a pad with one space each for Units B and C. Built in 1910, the property is near Aldi, HomeGoods, and downtown Monrovia, with access to shopping and neighborhood amenities. The site is car-dependent, with a Walk Score of 5 and no nearby transit.
Key Highlights
- Separate 3‑bedroom, 2‑bath front home with rear triplex
- Rear configuration includes two 1‑bedroom units and a bonus studio
- Paid solar system installed in 2014 serves the three rear units
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
$44,445
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
3.18%
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%
$888,900
$888.9K
Cap Rate 7%
$634,929
$634.9K
Cap Rate 9%
$493,833
$493.8K
Market Conditions
NOI Build-Up for 2,545 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
$68.7K $27.00/SF
− Vacancy
−$5.2K −$2.05/SF
EGI
$63.5K $24.95/SF
− OpEx
−$19.0K −$7.48/SF
NOI
$44.4K $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%
$888,900
Cap Rate 7%
$634,929
Cap Rate 9%
$493,833
Alternative Uses
Best Use
Multifamily LT 5
$634.9K
$555.6K – $740.8K
NOI $44,445 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$585.0K
$511.9K – $682.5K
NOI $40,951 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,381 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,629
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Front residence and rear rental units offer multiple living spaces with updated interiors, private laundry, and dedicated parking.
Where is this multifamily property located?
The property is located at 615 /617 Wildrose Monrovia, CA.
What is the asking price?
The asking price for this property is $1,398,888.
What are key features of this property?
This property features: Separate 3‑bedroom, 2‑bath front home with rear triplex; Rear configuration includes two 1‑bedroom units and a bonus studio; Paid solar system installed in 2014 serves the three rear units
