123-125 North Myrtle Avenue

123-125 North Myrtle Avenue

Monrovia, CA 91016

$4,250,000
Last Sold Price
22
Beds
16
Baths
15,540 Sq. Ft.
$273 / Sq. Ft.
15,540
Sq. Ft.
$273
per Sq. Ft.

Closed 2/10/21

Closed 2/10/21

Description

Rare 14 Unit multi-family asset available for purchase in north Monrovia with an irreplaceable location less than 1 block to Old Town Monrovia! Owned and meticulously maintained by the same family for over 30+ years, the subject property offers a desirable unit mix, significant upside in rental income, and a Grade A location steps to dining, shopping, and city services. The unit mix is comprised of two (2-Bedroom/1-½ Bathroom) two-story townhouse-style units, and twelve (2-Bedroom/1-Bathroom) units....Rare 14 Unit multi-family asset available for purchase in north Monrovia with an irreplaceable location less than 1 block to Old Town Monrovia! Owned and meticulously maintained by the same family for over 30+ years, the subject property offers a desirable unit mix, significant upside in rental income, and a Grade A location steps to dining, shopping, and city services. The unit mix is comprised of two (2-Bedroom/1-½ Bathroom) two-story townhouse-style units, and twelve (2-Bedroom/1-Bathroom) units. Most units offer either a private patio on the ground floor or a private balcony off the second floor. Total rentable square footage is 15,540 situated on 3 separate lots for a grand total of 21,224 sqft of land. Tenants enjoy onsite car-port parking, onsite laundry facility, and wall A/C & Heat. Priced at 15 GRM and 4.5% CAP Rate (on actual current rents) this investment opportunity is poised for a new buyer looking for a pride of ownership location, that offers a promising future of further rent growth and appreciation, and that warrants further capital improvement to increase the overall quality and value of the asset.
  1. Listed by KRISTOPHER GERMAN • DRE #01800021 • Brokerage DRE #01903052 • RE/MAX 2000

Property Details for 123-125 North Myrtle Avenue

Parking Spaces Total
14
Private Pool
No
Total Units
14.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
15540
Assessor Parcel Number
8519-023-016
Property Attached YN
true

Location

Listing Courtesy of RE/MAX 2000, KRISTOPHER GERMAN, DRE #01800021

Sold By RE/MAX 2000, KRISTOPHER GERMAN, DRE #01800021

Add your commute
LISTING UPDATED: 02/10/2021 07:38 AM

Property Details for 123-125 North Myrtle Avenue

StatusClosed
MLS #CV20242177
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.49 AC / 21,224 SF
CountyLos Angeles County

Location

Listing Courtesy of RE/MAX 2000, KRISTOPHER GERMAN, DRE #01800021

Sold By RE/MAX 2000, KRISTOPHER GERMAN, DRE #01800021

Add your commute

Building Information for 123-125 North Myrtle Avenue

Stories2Residences-Year Built1962Building Size-Lot Size0.49 AC / 21,224 SF

Payment Calculator

$23,194 per month

30 year fixed, 7.25% Interest

Principal and Interest

$23,194

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 123-125 North Myrtle Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $278,040
  • Gross Scheduled Income: $278,040
  • Vacancy Allowance: 8341
  • Gross Operating Income: $269,699
  • Net Operating Income: $188,383
  • Laundry Income: $3,000
  • Gross Multiplier: 15.02
  • Cap Rate: 4.51
  • Financing: Cash
Expense Details
  • Operating Expense: $81,316
  • New Taxes Expense: $50,100
  • Fuel Expense: $280
  • Electric Expense: $517
  • Insurance Expense: $6,216
  • Maintenance Expense: $10,500
  • Professional Management Expense: $0
  • Other Expense: $2,100
  • Other Expense Description: Reserves
  • Trash Expense: $4,866
  • Water Sewer Expense: $6,737
  • Total Expenses: $81,316
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 29-34
  • Tax Census Tract: 4303.02
  • Tax Lot: 8
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community, Inside
Exterior Features
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 8519-023-014,8519-023-015
  • Lot Features: 11-15 Units/Acre, Lot 20000-39999 Sqft
  • Number Of Units: 14
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 14
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,100
  • Unit Type Total Rent: $2,100
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,325
  • Unit Type Total Rent: $1,325
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,280
  • Unit Type Total Rent: $1,280
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 11
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,550
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 2
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,850
  • Unit Type Total Rent: $1,850
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 3
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,650
  • Unit Type Total Rent: $1,650
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 4
Unit 7
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,560
  • Unit Type Total Rent: $3,120
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 5
Unit 8
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,540
  • Unit Type Total Rent: $3,080
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 6
Unit 9
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,525
  • Unit Type Total Rent: $3,050
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 7
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,480
  • Unit Type Total Rent: $1,480
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 8
Unit 11
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,405
  • Unit Type Total Rent: $1,405
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 9
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1

Schools near 123-125 North Myrtle Avenue

This home is within Monrovia Unified School District.
Rating
School
Type
Grades
Distance
Mayflower Elementary School
Public - K to 5
Clifton Middle School
Public - 6 to 8
Monrovia High School
Public - 9 to 12
Mountain Park School
Public - K to 12
Rating
School
Distance
Mayflower Elementary School
PublicK to 5

Clifton Middle School
Public6 to 8

Monrovia High School
Public9 to 12

Mountain Park School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of RE/MAX 2000, KRISTOPHER GERMAN, DRE #01800021

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.