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    601 Myrtle Ave Monrovia, CA 91016-3405
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    Property profile & analytics

    601 Myrtle Ave, Monrovia, CA 91016-3405

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    • Investment properties
    • 6,251 SF
    • 0.15 lot acres
    Off-Market
    Last Sale Feb 26, 2021
    $2,600,000
    Property ID
    US09-9146111
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,610,000
    Show details
    Cap Rate Potential
    4.8%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • TK Electric Gate Repair / Home Help / Fence Contractor
    • Mikomi Sushi Monrovia / Restaurant
    • Gutter Installation Monrovia | Call Today / Hardware & Home Improvement / General Contractor

    Property Details for 601 Myrtle Ave

    Year built
    1937
    Construction
    TILT-UP CONCRETE
    Lot size
    0.15 lot acres
    Zone code
    MOCD*
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    8516-026-044
    APU
    8516026044

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 26, 2021 — Aner Iglesias Aner Iglesias Intrafamily Transfer · related —
    Jul 10, 2019 $2,600,000 Aner Iglesias T Phillips INC Grant Deed $1.7M · Midfirst Bank
    Sep 11, 2018 — T Phillips INC — Deed · related $400k · Prem & Colleen Mehta
    May 20, 2016 — T Phillips INC — Deed · related —
    Jul 24, 2009 $1,500,000 T Phillips INC Monrovia Redevelopment Agency Grant Deed $500k · Santa Clara Valley Bank NA
    Sep 20, 2005 — 601 South Myrtle-co Assocs LLC 601 S Myrtle Associates LLC Quit Claim Deed $1.4M · First Commerce Bank
    Jun 23, 2000 $550,000 601 S Myrtle Associates LLC Franich,patricia A Grant Deed —
    May 17, 1999 $40,000 Arnold A Mccarley — Grant Deed · related —
    — — T Phillips INC — Deed Of Trust · related —
    — — T Phillips INC — Deed Of Trust · related $1.9M · Gentner Family Trust (pt)
    — — T Phillips INC — Deed Of Trust · related $400k · Prem & Colleen Mehta

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,635,000
      ML approach
      $2,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,110,000
      6.5%
      $1,945,000
      7%
      $1,810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,163,000
      Market price range: $913k - $3.16M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,930,000
      Current use
      RESTAURANT
      $4,070,000
      Change: +111% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,805,000
      Change: +97% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,890,000
      Change: +50% Conversion: Difficult
      MEDICAL BUILDING
      $2,840,000
      Change: +47% Conversion: Easy
      OFFICE BUILDING
      $2,805,000
      Change: +45% Conversion: Easy
      RETAIL STORES
      $2,395,000
      Change: +24% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,875,000
      Change: -3% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monrovia
    County
    Los Angeles
    State
    California
    Longitude
    -118.001
    Latitude
    34.1457
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $37,898
    $1,675,144
    $1,155,059
    $2,830,203
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $575,000
      2,560 SF

      226 Foothill Blvd

      STORE/OFFICE (MIXED USE)
      226 Foothill Blvd, Monrovia, CA 91016-5518
      View Details
    • Value Estimation
      $965,000
      4,180 SF

      220 Myrtle Ave

      STORE/OFFICE (MIXED USE)
      220 Myrtle Ave, Monrovia, CA 91016-2847
      View Details
    • Value Estimation
      $1,985,000
      9,474 SF

      252 Foothill Blvd

      STORE/OFFICE (MIXED USE)
      252 Foothill Blvd, Monrovia, CA 91016-2147
      View Details
    • Value Estimation
      $1,830,000
      14,180 SF

      401 Myrtle Ave

      STORE/OFFICE (MIXED USE)
      401 Myrtle Ave, Monrovia, CA 91016-2811
      View Details
    • Value Estimation
      $1,945,000
      13,392 SF

      314 Myrtle Ave

      STORE/OFFICE (MIXED USE)
      314 Myrtle Ave, Monrovia, CA 91016-3853
      View Details
    • Value Estimation
      $1,835,000
      9,583 SF

      100 Duarte Rd

      STORE/OFFICE (MIXED USE)
      100 Duarte Rd, Monrovia, CA 91016-4528
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renovated Monrovia Commercial Property

      27,600 SF Class A property in Downtown Monrovia.
      324-328 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      17,691 SF

      Monrovia Mixed-Use Building For Sale

      Two-story mixed-use building in Old Town Monrovia with retail and offices.
      501 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      9,050 SF

      Monrovia Retail Space for Lease

      9,050 sq ft retail space in prime location
      928, Monrovia, CA 91016
      View Details
    • $2,250,000

      Commercial Building with Business Option

      Commercial building with optional dry cleaning business acquisition.
      340 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • $2,580,000
      4,180 SF

      Monrovia Retail Investment Opportunity

      High-traffic retail building, two units, great location.
      Myrtle Ave Ave, Monrovia, CA 91016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Monrovia Industrial Space For Lease

      Industrial space with immediate freeway access in established corridor.
      1321 S Shamrock Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Freestanding Food Processing Building For Rent

      5,113 SF food processing building with fenced parking in Monrovia.
      852 S Alta Vista Ave, Monrovia, CA 91016
      View Details
    • $1.89 SF/Yr

      Corner Industrial Building with Loading

      Corner industrial building near 210 Freeway and Monrovia Metro.
      1601 Raymond Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      2,471 SF

      Arcadia Professional Office Space

      Professional office space available for lease in Arcadia.
      1001 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space For Lease

      Second generation nail salon space available for lease.
      929-943 W Huntington Dr, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Rancho Cucamonga Warehouse Space

      Warehouse space with office, close to freeways.
      11650 Mission Park Dr, Rancho Cucamonga, CA 91016
      View Details

    Property Visit Statistics

    • Visits by month
      2.5k
    • Visitors by month
      2.6k
    • Avg Time on site
      33 min
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    Monrovia, CA 91016-3405
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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