Single-Story Fourplex with
For Sale
Contact for pricing
Pending
624 W Foothill, Monrovia, CA 91016
Fully occupied fourplex with four identical one-bedroom units, each with a dedicated parking setup and recent exterior improvements.
Property Size2,200 SF
Days on Market69
Property Features for 624 W Foothill
General Information
Standard status
Pending
Size
2,200 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
Assessor
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Espi Bagwell · License #01168881
Source:
Crexi
Added: Jun 17
Changed: Aug 19
Last Checked: Aug 24 at 4:31AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This fully occupied, single-story fourplex features four identical one-bedroom, one-bathroom units. Each residence offers an efficient layout with a spacious living room, a dedicated dining area, and a fully equipped kitchen with appliances. The property includes four garage spaces, supplemented by tandem parking, providing two dedicated spaces per unit.
Recent capital improvements help reduce near-term upkeep. The property has newer roofing, exterior paint, and updated landscaping, supporting a well-maintained exterior appearance.
For investors seeking a low-maintenance, income-oriented residential asset, this fourplex provides a straightforward unit mix with consistent interior layouts across all homes. With each unit already configured for day-to-day living and the property currently fully occupied, it may appeal to buyers looking for an established rental setup and an exterior improvement package already in place.
Recent capital improvements help reduce near-term upkeep. The property has newer roofing, exterior paint, and updated landscaping, supporting a well-maintained exterior appearance.
For investors seeking a low-maintenance, income-oriented residential asset, this fourplex provides a straightforward unit mix with consistent interior layouts across all homes. With each unit already configured for day-to-day living and the property currently fully occupied, it may appeal to buyers looking for an established rental setup and an exterior improvement package already in place.
Key Highlights
- Fully occupied single‑story fourplex with four identical 1‑bedroom, 1‑bath units
- Each unit offers 550 SF with a spacious living room, dedicated dining area, and fully equipped kitchen with appliances
- Dedicated parking setup: four garage spaces plus tandem parking, providing two dedicated spaces per 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
$38,420
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%
$768,400
$768.4K
Cap Rate 7%
$548,857
$548.9K
Cap Rate 9%
$426,889
$426.9K
Market Conditions
NOI Build-Up for 2,200 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
$59.4K $27.00/SF
− Vacancy
−$4.5K −$2.05/SF
EGI
$54.9K $24.95/SF
− OpEx
−$16.5K −$7.48/SF
NOI
$38.4K $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%
$768,400
Cap Rate 7%
$548,857
Cap Rate 9%
$426,889
Alternative Uses
Best Use
Multifamily LT 5
$548.9K
$480.3K – $640.3K
NOI $38,420 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,451 @ 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
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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?
Quadplex - Fully occupied fourplex with four identical one-bedroom units, each with a dedicated parking setup and recent exterior improvements.
Where is this quadplex located?
The property is located at 624 W Foothill Monrovia, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully occupied single‑story fourplex with four identical 1‑bedroom, 1‑bath units; Each unit offers 550 SF with a spacious living room, dedicated dining area, and fully equipped kitchen with appliances; Dedicated parking setup: four garage spaces plus tandem parking, providing two dedicated spaces per unit
