624 W Foothill Blvd Monrovia, CA 91016

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.