$4,800,000
( $271.32Per Sq Foot )
 $25,767 forsale estimated payment Sourced by Back At You

501 S Myrtle Avenue , Monrovia, CA 91016

Monrovia, CA 91016

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Description

Rare opportunity to own this property that includes includes 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue. This Old Town Monrovia area that is so charming and people love to come to this street for the weekly farmers market, quaint restaurants and more. Two-story mix-used building with retail and offices situated on the first floor, second story executive offices and a usable basement level that is currently rented as executive offices and storage areas. Two retail spaces on the first floor. Many of the office suites are leased MTM with below market rents. Great opportunity for an investor to realize an upside in current market rents. Also an opportunity for an office owner/user to occupy first or second floor office space. The building has 17,691 total SF with 6,174 SF on the first floor, 5,548 SF on the second floor and 5,969 SF in the basement level. The building has fire sprinklers, 6 common area restrooms, 3 private restrooms, 2 kitchens and 2 janitor closets. Zoned HCD- Historic Commercial Downtown. Located in the heart of Old Town Monrovia. Situated on the busy signalized intersection of Myrtle and Lemon. High-density residential surrounds the property. 210 and 605 freeways are located in close vicinity. It is a heavily pedestrian-oriented shopping destination that consists if retail, restaurants, office an mixed-use properties. High-density residential uses surround the property including most closely The Colorado Commons with seventy two units total an parking structure with over 180 spaces also available for public parking use. The Santa Anita Race Track and Westfield Mall are located 3 miles from this property. The Monrovia Gold-line station is located about 1 mile south of this property. Both 210 and 605 freeways are located in close vicinity with access via Myrtle Avenue. Currently, there are 39 tenants occupied. Property was recently upgraded with newer flooring, store front and more!

Details

MlsSR24225737
Listing TypeFor Sale
StyleMixed Use
SubtypeResale
StatusActive
Year1955
Days On Site35
Listing Provided ByRealty Executives SCV 661-250-8600 | Denise Mitchell

Features

Sq Feet17,691
Storys2
Units39
Buildings1
Acreage0.15

Market Activity 91016

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Listings Checked: 3 minutes ago
StateCA
CountyLos Angeles
CityMonrovia
Zip Code91016
Area639 Monrovia
Listing VS Median (in 91016)
Price:
$4,800,000
low | high
Med:
$981,500
100% of Average
SqFt:
17,691
low | high
Med:
1,784
100% of Average
$ / SqFt:
$271
low | high
Med:
$553
53.736580118448% of Average
On Site:
35
low | high
Med:
51.000000
68.627450980392% of Average
Sourced by Back At You
Listing Updated: November 26, 2024 at 4:49:19 PM PST