424 Concord Ave, Monrovia, CA 91016

Property Description

We are pleased to exclusively offer for sale this 5 unit investment property in the highly desirable community of Monrovia. Located just north of Foothill Blvd., the subject property is situated in a primarily single family residential neighborhood and is one of the few multi-unit properties in the area. The property boasts an attractive mix of one 2Bed/1Bath detached cottage style unit, one 1Bed/1Bath detached cottage style unit, two 1Bed/1Bath Units located in a two-story duplex building, and one 2Bed/2Bath detached cottage built in 2002. The fifth unit was originally built and permitted as an office space with shower above a two-car attached garage, and has been converted to the 2Bed/2Bath unit. All units are well appointed on a large 15,880 sqft lot. Each unit is separately metered for electricity & gas paid by the tenants, while the owner pays water and trash. A new investor can take advantage of making modest improvements to the property while raising rents to market level which is well above what is currently being collected. The 3 cottages have their own private patio/garden areas as well as washer and dryer hookups, while the duplex building has a shared laundry room with an owner provided washer and dryer. The property is quite attractive and original to the era in which it was built. It has been meticulously maintained by the current owner.