Monrovia Multifamily Investment
For Sale
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624 W Foothill Blvd, Monrovia, CA 91016
100% occupied 8-unit property with value-add potential in Monrovia.
Property Size4,400 SF
Price / SF$589.77
Days on Market167
Property Features for 624 W Foothill Blvd
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Multifamily
Zoning
MORH*
Building Details
Year Built
1951
Listing Agency:
Hopkins Investment Group
Listed By:
Jake Hopkins · License #CA 02026709
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:46PM
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 Hopkins Investment Group
Investment Insights
Based on property information with market context.
This 100% occupied 8-unit multifamily property is situated along Foothill Boulevard in Monrovia, within the San Gabriel Valley. The property comprises two single-story, 4-unit buildings, offering financing flexibility. Each building features 1-bedroom, 1-bathroom units with front and rear access. Each building includes four garage spaces plus tandem parking, providing two spaces per unit. A shared washer and dryer room generates additional income. Current average rents are approximately $1,700 per month, below market rents exceeding $2,100 per month, representing roughly 25%+ upside. One recently leased unit has achieved market rent. Exterior capital improvements include new roofing, exterior paint, and landscaping. Four units have received interior upgrades including kitchens, bathrooms, flooring, appliances, fixtures, and finishes. The property benefits from Monrovia’s favorable rent control structure, following California AB 1482 guidelines without additional local restrictions. Located near Old Town Monrovia, shopping, dining, and major commuter routes, the asset offers a compelling value-add opportunity with strong upside potential in a highly desirable rental market. The property size is 4400 square feet.
Key Highlights
- Significant Rental Upside: Current rents average $1,700/month, with market rents exceeding $2,100/month.
- 100% Occupied: Ensuring immediate cash flow.
- Flexible Financing/Exit: Two separately parceled 4‑unit buildings.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,045
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?
Apartment building - 100% occupied 8-unit property with value-add potential in Monrovia.
Where is this apartment building located?
The property is located at 624 W Foothill Blvd Monrovia, CA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Significant Rental Upside: Current rents average $1,700/month, with market rents exceeding $2,100/month.; 100% Occupied: Ensuring immediate cash flow.; Flexible Financing/Exit: Two separately parceled 4‑unit buildings.
