729 Foothill BlvdMonrovia, CA 91016

Property Details for 729 Foothill Blvd

Year built

1958

Construction

WOOD

Lot size

1.03 AC

Property size (Sq ft)

20,160 SF

Zone code

MORH*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8504-019-038

APU

8504019038

Description

This exceptional multifamily investment property, located at 729 W Foothill Blvd in Monrovia, CA, presents a compelling opportunity. The 32-unit apartment building, totaling ±20,160 square feet, sits on a spacious ±1.2-acre lot (44,854 sq ft). Built in 1958, the four, two-story buildings boast a mix of one- and two-bedroom units, averaging 633 square feet each. Currently generating a NOI of $388,612 and a 4.80% cap rate, the property offers significant upside potential. A pro-forma NOI of $514,032 projects a 6.35% cap rate. The asking price is $8,100,000, translating to $253,125 per unit and $401.79 per square foot. The property benefits from a 2.95% interest-only loan assumption, extending until November 2030. Amenities include on-site laundry, mature landscaping, a courtyard with seating, and carport and surface parking. Many units feature upgraded kitchens with stainless steel appliances, vinyl plank flooring, and updated bathrooms. Monrovia's strong job market, excellent schools, and convenient access to the 210 Freeway and major attractions, including nearby shopping centers and freeways (210, 605, 134, 10, and 5), make this a highly desirable location. The property's current condition and potential for rental increases present a strong value-add opportunity for investors.

• CAP approach

  CAP return

  Valuation

  6%

  $6,698,542

  6.5%

  $6,183,269

  7%

  $5,741,607

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,917,378

  Geo Method

  $5,942,120

• Alternative Use

  Use

  Valuation

  Residential

  $6,183,269

  Hospitality

  $5,663,841

  Educational

  $4,712,250

  Medical

  $4,874,310

  Retail

  $7,330,166

Location Insight

City

Monrovia

County

Los Angeles

State

California

Latitude

34.1519

Longitude

-118.014

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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