537 Cloverleaf DrMonrovia, CA 91016

Property Details for 537 Cloverleaf Dr

Year built

1916

Lot size

19.85 AC

Property size (Sq ft)

5,073 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Monrovia

County

Los Angeles

State

California

Latitude

34.1624

Longitude

-118.008

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