1719 Encino AveMonrovia, CA 91016

Property Details for 1719 Encino Ave

Year built

1963

Construction

WOOD

Lot size

0.41 AC

Property size (Sq ft)

5,712 SF

Zone code

MORPD*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8507-019-053

APU

8507019053

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,897,920

  6.5%

  $1,751,926

  7%

  $1,626,789

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,676,590

  Geo Method

  $1,683,601

• Alternative Use

  Use

  Valuation

  Residential

  $1,751,926

  Hospitality

  $1,604,755

  Educational

  $1,335,137

  Medical

  $1,381,055

  Retail

  $2,076,880

Location Insight

City

Monrovia

County

Los Angeles

State

California

Latitude

34.133

Longitude

-118.018

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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