537 Cloverleaf DrMonrovia, CA 91016
- Apartment buildings
- 5,073 SF
Property Details for 537 Cloverleaf Dr
- Year built
- 1916
- Lot size
- 19.85 AC
- Property size (Sq ft)
- 5,073 SF
- Property type
- Apartment buildings
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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