1719 Encino Ave Monrovia, CA 91016

This exceptional six-unit apartment building, located at 1719 Encino Ave, Monrovia, CA 91016, presents a compelling investment opportunity. The property, built in 1936 and extensively renovated in 2023, boasts a total of 5,712 square feet across four one-story buildings situated on a generous 17,775 square foot lot. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $140,920, with a projected NOI of $138,308. Each of the six units offers two bedrooms and one bathroom, providing approximately 950 square feet of living space. Twelve parking spaces are available, including private garages for each unit, with four units having an additional designated parking spot. The property's prime location in Monrovia's Santa Anita tract, minutes from the 210 freeway, ensures high demand and low vacancy rates. The asking price is $3,500,000, representing a price per square foot of $612.59 and a price per unit of $583,333.33. The property is zoned MORPD and features a 4.03% cap rate and a pro-forma cap rate of 3.95%. This stabilized multifamily investment is held in a trust and is suitable for a 1031 exchange. The land value is $196.91 per square foot. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable Southern California location.