For Sale
$5,613,000

537 Cloverleaf DrMonrovia, CA 91016

19.85 Acres, 6 Units, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 19.85-acre property in Monrovia, California, presents a unique redevelopment opportunity. Comprising two parcels (APN 8503-001-029 and 8503-002-008), 537 & 539 Cloverleaf Dr boast a prime location nestled in a serene hillside setting near million-dollar homes and with convenient freeway access. The property currently features a six-unit apartment building (5,073 square feet), built in 1916/1945, generating rental income from existing tenants. Utilities are readily available on-site. This Class C multifamily investment, listed at $5,613,000 ($1,106.45/sq ft), offers significant upside potential through redevelopment. The substantial lot size allows for a wide range of development possibilities, making it an attractive proposition for investors seeking a 1031 exchange. The current rental income stream provides a stable foundation while planning for future development. This is a rare chance to acquire a large parcel in a desirable location with immediate income and long-term growth potential.

Highlights

  • Investment opportunity: rental income with redevelopment potential.
  • 19.85-acre land parcel.
  • Secluded, private setting.
  • Easy freeway access.
  • Prime location near high-value residential properties.

Property Details for 537 Cloverleaf Dr

Property type
Apartment buildings
Square Feet
5,073 SF
Class
C
Year Built
1916
Lot Size (sq. ft)
864,666 SF
Units
6

Location Insight

City
Monrovia
County
Los Angeles
State
California
Latitude
34.162437330096
Longitude
-118.00803131161
537 Cloverleaf Dr, Monrovia, California

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537 Cloverleaf Dr
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