729 West Foothill Boulevard
$8,100,000
3
32
20,160
20,160
$402
Description
We are proud to present Ridgewood Apartments, a prime multifamily investment opportunity located at 729 W Foothill Boulevard in Monrovia, California. Situated between N Sunset Place and El Nido Avenue, this property benefits from the city’s strong job market, excellent schools, and close proximity to the 210 Freeway and major attractions. Monrovia’s growing population and increasing demand for housing make this an ideal investment choice, offering potential for steady rental income and property value...We are proud to present Ridgewood Apartments, a prime multifamily investment opportunity located at 729 W Foothill Boulevard in Monrovia, California. Situated between N Sunset Place and El Nido Avenue, this property benefits from the city’s strong job market, excellent schools, and close proximity to the 210 Freeway and major attractions. Monrovia’s growing population and increasing demand for housing make this an ideal investment choice, offering potential for steady rental income and property value appreciation. The Ridgewood Apartments are a 2-story, 32-unit property originally built in 1958. The property has a total building size of ±20,160 square feet and sits on a large ±1.2 acre lot. The property features an excellent unit mix of one-bed/one-bathroom and two-bedroom/one-bathroom units averaging 633 SF per unit. Superbly maintained, the property features a communal on-site laundry facility, mature lush landscaping with a courtyard with outdoor seating, carport and surface parking. Most units have been upgraded and feature vinyl plank flooring and carpet throughout, kitchens with stainless steel appliances, ceiling fans, vertical blinds, and wall air conditioning and heating. The city of Monrovia is ideally located within Southern California offering easy access to the 210, 605, 134, 10 and 5 freeways connecting to all of Los Angeles County, Ventura County, San Bernardino and beyond. Its location offers convenient access to neighboring cities within the San Gabriel Valley. Significant local landmarks within a 20-mile radius include: Santa Anita Park, Los Angeles County Arboretum, The Huntington Library, City of Hope Hospital, The Rose Bowl, Dodger Stadium, Crypto.com Arena, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios and more. The Ridgewood Apartments at 729 W Foothill Boulevard is a prime Monrovia income-producing property that offers a compelling long-term investment opportunity. Its current 2.95% interest-only debt provides an attractive financing structure, while the significant potential for rental upside— an estimated 16% growth to achieve market rents—underscores its value. Located in a highly desirable neighborhood, this property presents a stable investment opportunity for a diverse range of investors, including first-time buyers, seasoned professionals, and those seeking 1031 exchange benefits.
- Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
Property Details for 729 West Foothill Boulevard
Parking Spaces Total
36
Private PoolNo
Cooling TypeWall/Window
Total Units32.0
Building TypeAttached
Lot Size SourceAssessor
Living Area20160
Assessor Parcel Number8504-019-038
LISTING UPDATED: 10/11/2024 05:49 AM
Property Details for 729 West Foothill Boulevard
Status | Active |
---|---|
MLS # | CV24211512 |
Days on Market | 80 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1958 |
County | Los Angeles County |
Building Information for 729 West Foothill Boulevard
Building/Complex729 W Foothill BlvdFloor-Stories2Residences-Pet Policy-Year Built1958Building Size-
Property Information for 729 West Foothill Boulevard
Property History for 729 West Foothill Boulevard
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 729 West Foothill Boulevard
Taxable ValueLand$997,171Additions$1,335,967Total$2,333,138
Tax Record2024$40,855 ($3,405 / month)
Home Facts
Total Finished SqFt20,160 SqFtAbove Grade Finished SqFt20,160 SqFtLot Size44,854 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningMORH*CountyLOS ANGELESAPN8504-019-038
Schools near 729 West Foothill Boulevard
This home is within Monrovia Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 12 |
Rating | School | Distance |
---|---|---|
Mayflower Elementary School PublicK to 5 | ||
Clifton Middle School 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.