Residential For Sale | Home | Duplex/Triplex/Fourplex
244 West Walnut Avenue . Monrovia , CA 91016
Over 50% Upside! For sale 4-unit multifamily property, built in 1953, sits on over 8,000 sqft of land. For more information contact the listing agent Michael McNulty Jr. 818-212-2709 Michael.McNulty@marcusmillichap.com
2799 sq. ft.
Posted: 12/07/2021 5:18 am
| On HOMEiZ: 882 days |
Updated: 2 years ago
| Views: 649
Location Map
Property Type
Sold
Property Price
$1441440
$1441440
12/07/2021
2799
8,000
Sq. Ft.
$515
Fourplex (4)
N/A
3
1
N/A
3
1
N/A
3
1
N/A
3
2
1953
Good
1.25%
$18018
Contact Listing agent %
Financing
This property can be financed
Yes
No
No
No
No
Yes
Property Location & Description
Over 50% Upside! For sale 4-unit multifamily property, built in 1953, sits on over 8,000 sqft of land. For more information contact the listing agent Michael McNulty Jr. 818-212-2709 Michael.McNulty@marcusmillichap.com
This 2,799 sqft 4-unit
multifamily property, built in 1953, sits on over 8,000 sqft of land, and it boasts an excellent unit mix of (3) 2 Bed / 1 Bath units and (1) 3
Bed / 2 Bath unit. The property also has alleyway access at the behind the buildings where there are 4 garage parking spots for the tenants.
This offering is an ideal value-add opportunity for an investor looking to capitalize on the more than 50% rental upside potential.
Furthermore, an investor would be wise to consider converting the 4 garages in the back into additional units through the new ADUs laws
passed in 2020 by the state of California.
This property has been well maintained over the seller's 15+ year ownership. Most notably, the seller just replaced the roofs on this property
early this year, and that comes with a 30-year warranty which will be transferred to the buyer. Additionally, the seller has remodeled the
kitchens and bathrooms in two of the four units, and he has recently treated the property for termites.
Lastly, due to the fact that this property has less than 5 units, an investor will be able to lock in a 30-year fixed rate residential loan at today's
historically low interest rates, and will also be able to put as little as 20% or 25% as their down payment.
Located in Monrovia, California
Property Information
Sidewalks
Street Lighting
None
3.12% Cap Rate -GRM 20.10-Walk Score of 91
Building and Construction
None
Stucco
Wood products
1
No Data
Room Features
Utilities
Central
Forced air
Other
Sewer
Sewer System (Public)
Parking
Garage - Attached
Off-street
On-street
8
0
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
21-785362
Open house
Listing Presented by
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