729 Foothill BlvdMonrovia, CA 91016

This exceptional multifamily investment property, located at 729 W Foothill Blvd in Monrovia, CA, presents a compelling opportunity. The 32-unit apartment building, totaling ±20,160 square feet, sits on a spacious ±1.2-acre lot (44,854 sq ft). Built in 1958, the four, two-story buildings boast a mix of one- and two-bedroom units, averaging 633 square feet each. Currently generating a NOI of $388,612 and a 4.80% cap rate, the property offers significant upside potential. A pro-forma NOI of $514,032 projects a 6.35% cap rate. The asking price is $8,100,000, translating to $253,125 per unit and $401.79 per square foot. The property benefits from a 2.95% interest-only loan assumption, extending until November 2030. Amenities include on-site laundry, mature landscaping, a courtyard with seating, and carport and surface parking. Many units feature upgraded kitchens with stainless steel appliances, vinyl plank flooring, and updated bathrooms. Monrovia's strong job market, excellent schools, and convenient access to the 210 Freeway and major attractions, including nearby shopping centers and freeways (210, 605, 134, 10, and 5), make this a highly desirable location. The property's current condition and potential for rental increases present a strong value-add opportunity for investors.