Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    609 California Ave Monrovia, CA 91016-3501

    • Apartment buildings
    • 5,416 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7325456
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 609 California Ave

    Year built
    1908
    Lot size
    0.29 lot acres
    Property size
    5,416 SF
    Zone code
    MORM*
    Property type
    Apartment buildings
    APN
    8516-029-002
    APU
    8516029002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $260,000
      Market price range: $205k - $442k

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

    Location Insight

    • Map
    • Local Demand
    City
    Monrovia
    County
    Los Angeles
    State
    California
    Longitude
    -117.995
    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
    $15,882
    $544,940
    $478,591
    $1,023,531
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $315,000
      5,240 SF

      217 Lemon Ave

      APARTMENT HOUSE (5+ UNITS) • 5,240 SF
      217 Lemon Ave, Monrovia, CA 91016-2742
      View Details
    • Value Estimation
      $340,000
      5,034 SF

      219 Madison Ave

      APARTMENT HOUSE (5+ UNITS) • 5,034 SF
      219 Madison Ave, Monrovia, CA 91016-2572
      View Details
    • Value Estimation
      $390,000
      13,444 SF

      131 Montana St

      APARTMENT HOUSE (5+ UNITS) • 13,444 SF
      131 Montana St, Monrovia, CA 91016-4172
      View Details
    • Value Estimation
      $680,000
      24,620 SF

      115 Myrtle Ave

      APARTMENT HOUSE (5+ UNITS) • 24,620 SF
      115 Myrtle Ave, Monrovia, CA 91016-2216
      View Details
    • Value Estimation
      $320,000
      10,538 SF

      215 Myrtle Ave

      APARTMENT HOUSE (5+ UNITS) • 10,538 SF
      215 Myrtle Ave, Monrovia, CA 91016-2204
      View Details
    • Value Estimation
      $305,000
      5,208 SF

      1849 Peck Rd

      APARTMENT HOUSE (5+ UNITS) • 5,208 SF
      1849 Peck Rd, Monrovia, CA 91016-4741
      View Details

    Similar Nearby for Sale

    • $2,695,000
      6,090 SF

      Monrovia Apartment Building For Sale

      Well-maintained Monrovia apartment building with central A/C and carport parking.
      516 Linwood Ave, Monrovia, CA 91016
      View Details
    • $999,950
      1,964 SF

      Monrovia Triplex Investment Opportunity

      Tenant-occupied triplex near Old Town Monrovia shops and restaurants.
      717 S Magnolia Ave, Monrovia, CA 91016
      View Details
    • $950,000

      Monrovia Duplex Opportunity

      Rare duplex in a desirable Monrovia neighborhood, ideal for investment.
      604 E Lemon Ave, Monrovia, CA 91016
      View Details
    • $888,000

      Monrovia Duplex with Vacant Units

      Duplex in Monrovia with renovated and blank canvas units.
      126 E Cypress Ave, Monrovia, CA 91016
      View Details
    • $988,000
      1,504 SF

      Two Homes on One Lot

      Two single-story homes on a 9,000 sq ft corner lot.
      119 S Alta Vista Ave, Monrovia, CA 91016
      View Details
    • $899,000
      1,355 SF

      Craftsman Duplex Near Downtown Monrovia

      Craftsman-style duplex with versatile units and convenient location.
      425 E Walnut Ave, Monrovia, CA 91016
      View Details

    Similar Nearby for Lease

    • $1.10 SF/Yr
      27,770 SF

      Freestanding Industrial Building with Office

      27,770 SF industrial building featuring office space.
      133 E Maple Ave, Monrovia, CA 91016
      View Details
    • $1.38 SF/Yr
      4,000 SF

      Freestanding Warehouse with Open Layout

      4,000 SF warehouse ideal for contractors, trades, or storage.
      118 E Pomona Ave, Monrovia, CA 91016
      View Details
    • $3 SF/Yr
      3,250 SF

      Retail End Cap Opportunity

      High-profile retail space suitable for medical, restaurant, or service retail.
      242-252 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • $2 SF/Yr
      1,100 SF

      Medical/Dental Office Space Available

      Medical/dental office space for rent in Monrovia, CA.
      686-698 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • $3 SF/Yr
      310 SF

      Monrovia Office Space Available

      Second floor office space available for rent in Monrovia.
      430 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • $2.00 SF/Yr
      4,091 SF

      Old Town Monrovia Retail Space

      Prime retail/restaurant space in Old Town Monrovia.
      535 S Myrtle Ave, Monrovia, CA 91016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    609 California Ave
    Monrovia, CA 91016-3501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.