501 South Myrtle Avenue

Monrovia, CA 91016

$4,800,000
Price
—
Beds
17,691 Sq. Ft.
$271 / Sq. Ft.
17,691
Sq. Ft.
$271
per Sq. Ft.
a front view of a house with a yard
a view of steet corner
a view of a building with sitting area
a front view of a house with a yard
a front view of a building with garden
a street view of a house
a view of a street with buildings
a living room with lots of furniture and wooden floor
a dining room with furniture floor to ceiling window and potted plants
a view of wooden balcony
a view of a couches with wooden floor and stairs
a view of a livingroom with furniture and stairs
a view of an entryway
a view of entryway and hall with wooden floor
a view of a walk in closet
a view of a hallway with furniture
a view of entryway and hall
a view of a hallway with wooden floor
a view of an entryway
a view of a hallway with wooden floor and staircase

Description

Rare opportunity to own this property that includes includes 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue. This Old Town Monrovia area that is so charming and people love to come to this street for the weekly farmers market, quaint restaurants and more. Two-story mix-used building with retail and offices situated on the first floor, second story executive offices and a usable basement level that is currently rented as executive offices and storage areas. Two retail spaces on the first floor....Rare opportunity to own this property that includes includes 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue. This Old Town Monrovia area that is so charming and people love to come to this street for the weekly farmers market, quaint restaurants and more. Two-story mix-used building with retail and offices situated on the first floor, second story executive offices and a usable basement level that is currently rented as executive offices and storage areas. Two retail spaces on the first floor. Many of the office suites are leased MTM with below market rents. Great opportunity for an investor to realize an upside in current market rents. Also an opportunity for an office owner/user to occupy first or second floor office space. The building has 17,691 total SF with 6,174 SF on the first floor, 5,548 SF on the second floor and 5,969 SF in the basement level. The building has fire sprinklers, 6 common area restrooms, 3 private restrooms, 2 kitchens and 2 janitor closets. Zoned HCD- Historic Commercial Downtown. Located in the heart of Old Town Monrovia. Situated on the busy signalized intersection of Myrtle and Lemon. High-density residential surrounds the property. 210 and 605 freeways are located in close vicinity. It is a heavily pedestrian-oriented shopping destination that consists if retail, restaurants, office an mixed-use properties. High-density residential uses surround the property including most closely The Colorado Commons with seventy two units total an parking structure with over 180 spaces also available for public parking use. The Santa Anita Race Track and Westfield Mall are located 3 miles from this property. The Monrovia Gold-line station is located about 1 mile south of this property. Both 210 and 605 freeways are located in close vicinity with access via Myrtle Avenue. Currently, there are 39 tenants occupied. Property was recently upgraded with newer flooring, store front and more!
  1. Listed by Denise Mitchell • DRE #01365488 • Brokerage DRE #01147752 • Realty Executives SCV • 661-313-6860

Property Details for 501 South Myrtle Avenue

Total Units
39.0
Lot Size Source
Assessor
Building Area Total
17691
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
8516023085
Area
Monrovia (639)
LISTING UPDATED: 11/04/2024 05:37 AM

Property Details for 501 South Myrtle Avenue

StatusActive
MLS #SR24225737
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1955
Lot Size0.15 AC / 6,700 SF
CountyLos Angeles County

Building Information for 501 South Myrtle Avenue

Stories2Residences-Year Built1955Lot Size0.15 AC / 6,700 SF

Property Information for 501 South Myrtle Avenue

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $310,755
  • Net Operating Income: $253,106
  • Cap Rate: 5.2
  • Current Financing: None
Expense Details
  • Expense Year: $2,023
  • Insurance Expense: $4,679
  • Trash Expense: $1,092
  • Water Sewer Expense: $4,232
  • Real Estate Tax Expense: $48,546
Tax / Assessment Info
  • Tax Year: 2023
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central
Land/Lot Info
  • Sign on Property: No
  • Lot Features: Corner Lot
  • Land Use: Office, Other, Retail
  • Water Source: Public
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 39
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 39
  • Number Of Buildings: 1

Property History for 501 South Myrtle Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 501 South Myrtle Avenue

Taxable ValueLand$2,028,780Additions$1,404,540Total$3,433,320
Tax Record2024$48,544 ($4,045 / month)
Home Facts
Total Finished SqFt8,851 SqFtAbove Grade Finished SqFt8,851 SqFtStories1Lot Size6,700 SqFtStyleStoresYear Built1955ZoningMOCD*CountyLOS ANGELESAPN8516-023-085

Schools near 501 South Myrtle Avenue

This home is within Monrovia Unified School District.
Rating
School
Type
Grades
Distance
Monroe Elementary School
Public - K to 5
Santa Fe Computer Science Magnet
Public - 6 to 8
Monrovia High School
Public - 9 to 12
Mountain Park School
Public - K to 12
Rating
School
Distance
Monroe Elementary School
PublicK to 5

Santa Fe Computer Science Magnet
Public6 to 8

Monrovia High School
Public9 to 12

Mountain Park School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 501 South Myrtle Avenue, Monrovia, CA 91016

501 South Myrtle Avenue is a mixed use property for sale in Monrovia, CA 91016. This property was listed for sale on November 4, 2024 by Realty Executives SCV, it's currently listed at $4,800,000. It has been on the market for a total of 29 days and was last sold on April 8, 2022. This listing's school district is Monrovia Unified School District. Nearby schools include Monroe Elementary School, Santa Fe Computer Science Magnet and Monrovia High School. 501 South Myrtle Avenue is a 0-bed, 0-bath, 17,691 sqft mixed use property built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Executives SCV, Denise Mitchell, DRE #01365488

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.