425 Walnut AveMonrovia, CA 91016

Property Details for 425 Walnut Ave

Year built

1910

Property size (Sq ft)

1,355 SF

Property type

Apartment buildings

Description

This Monrovia investment property, located at 425 E. Walnut Ave, offers a compelling value-add opportunity. The property consists of two units: a main house featuring two bedrooms, one and a half bathrooms, and an office (potentially a third bedroom), and a detached one-bedroom, one-bathroom unit. Built in 1910, the Craftsman-style buildings boast approximately 1,355 square feet of rentable space situated on a 6,539 square foot lot zoned RM3000/PUD. Both units include washer/dryer hookups and ample driveway parking. The detached unit features a private fenced yard. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $26,047, representing a 2.90% capitalization rate. However, a pro-forma analysis projects a significantly improved NOI of $43,798 and a 4.87% capitalization rate, highlighting the substantial upside potential. The asking price is $899,000, translating to $449,500 per unit and $663.47 per square foot. This property presents a rare chance to acquire a well-located, income-producing duplex in a desirable Los Angeles County neighborhood with significant potential for increased profitability.

Location Insight

City

Monrovia

County

Los Angeles

State

California

Latitude

34.1439

Longitude

-117.994

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