Three-Unit Multifamily with Private
For Sale
Contact for pricing
616 South 5th Avenue, Monrovia, CA 91016
Three-unit multifamily offering private outdoor space, washer/dryer hookups, and on-site garages with potential for ADU conversion.
Property Size2,522 SF
Lot Size0.19 Acres
Price / SF$545.20
Days on Market60
Property Features for 616 South 5th Avenue
General Information
Standard status
Active
Size
2,522 SF
Lot size
0.19 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Building Details
Year Built
1948
Tenancy
Multi
Listing Agency:
Compass
(310) 230-5478
Listed By:
John Swartz · License #CA 01873487
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 4 at 1:08PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1948, this three-unit multifamily property includes two two-bedroom/one-bath apartments and one two-bedroom/one-bath standalone house. The layout is low-density and emphasizes tenant privacy, with the front house offering both a front yard and a rear yard area, while the two rear units each have their own private patio spaces. All three units include washer/dryer hookups, and on-site garages provide additional storage for tenants.
The property is located in Monrovia’s established residential core. It offers convenient access to major employment corridors across the San Gabriel Valley and the greater Los Angeles basin, with the 210 Freeway nearby and the Monrovia Gold Line Station providing a car-free commute option into Pasadena and beyond. The property is subject to AB-1482, and it is not subject to any local rent control.
Tenants are responsible for electricity and gas, helping keep landlord utility exposure limited to water, trash, and gardening. The on-site garage structures may present value through potential conversion into Accessory Dwelling Units (ADUs), subject to City of Monrovia approval and applicable building requirements, with the conversion feasibility and permitting to be confirmed through independent due diligence with the City and a qualified contractor.
The property is located in Monrovia’s established residential core. It offers convenient access to major employment corridors across the San Gabriel Valley and the greater Los Angeles basin, with the 210 Freeway nearby and the Monrovia Gold Line Station providing a car-free commute option into Pasadena and beyond. The property is subject to AB-1482, and it is not subject to any local rent control.
Tenants are responsible for electricity and gas, helping keep landlord utility exposure limited to water, trash, and gardening. The on-site garage structures may present value through potential conversion into Accessory Dwelling Units (ADUs), subject to City of Monrovia approval and applicable building requirements, with the conversion feasibility and permitting to be confirmed through independent due diligence with the City and a qualified contractor.
Key Highlights
- Built in 1948 three‑unit multifamily with 8,294 SF lot and 2,522 SF building area.
- Unit mix: two 2BD/1BA apartments plus one standalone 2BD/1BA house.
- Outdoor space for tenants: front yard and rear yard for the front house; private patio areas for each rear unit.
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
$44,043
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
3.20%
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%
$880,860
$880.9K
Cap Rate 7%
$629,186
$629.2K
Cap Rate 9%
$489,367
$489.4K
Market Conditions
NOI Build-Up for 2,522 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
$68.1K $27.00/SF
− Vacancy
−$5.2K −$2.05/SF
EGI
$62.9K $24.95/SF
− OpEx
−$18.9K −$7.48/SF
NOI
$44.0K $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%
$880,860
Cap Rate 7%
$629,186
Cap Rate 9%
$489,367
Alternative Uses
Best Use
Multifamily LT 5
$629.2K
$550.5K – $734.1K
NOI $44,043 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$579.7K
$507.3K – $676.4K
NOI $40,581 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,519 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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?
Triplex - Three-unit multifamily offering private outdoor space, washer/dryer hookups, and on-site garages with potential for ADU conversion.
Where is this triplex located?
The property is located at 616 South 5th Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Built in 1948 three‑unit multifamily with 8,294 SF lot and 2,522 SF building area.; Unit mix: two 2BD/1BA apartments plus one standalone 2BD/1BA house.; Outdoor space for tenants: front yard and rear yard for the front house; private patio areas for each rear unit.
