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1222 S Magnolia Avenue

Monrovia, CA 91016
  • $1,395,000
  • STATUS: Active
  • ON SITE: 10 Days
  • ID#: AR22168858
UPDATED: 34 min ago
$1,395,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1949
County:

School Ratings & Info

Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)


Description

1222 S Magnolia Ave, a charming triplex just south of Huntington Dr in Monrovia, CA. The property has an excellent location north of FWY210 and just minutes away from Old Town Monrovia on Myrtle Ave. This convenient and excellent location bordering Arcadia offers tenants unparalleled access to area amenities and make this property an easy to rent and operate apartment property. The property was built in 1949 and offers an excellent unit mix of two (2) 3bed+1.5bath, and one (1) 1bed+1bath. It is situated on an oversized lot of 10,679SF which provides ample parking and excellent upside to add ADU units in the back. Each unit is spacious with functional layout with recently updated dual pane windows. Each unit has individual laundry hookups and has individual water heater, electricity and gas. Owner pays for water, trash, and landscaping. The 3rd unit (1bed) has large private backyard. Parking is provided by 2 car garages and open spaces. There are total of 6 parking spaces (3 are tandem) with ability to add more due to its large backyard. The property has front gate and inner gate. There is a large shared backyard that is perfect for new owner to add ADU unit(s) (buyer to check with the citys planner about this). The property is strategically near Old Town Monrovia and just 2 blocks from Huntinton Drive retail corridor. This location is very convenient providing tenants easy access to retail, dining, shopping and groceries along Huntington Dr. and Myrtle Ave. Many national retailers such as Best Buy, Walmart are located within minutes of this property. This area is adjacent to affluent city like Arcadia. The new owners can enjoy its proximity to FWY 210 and the Monrovia Gold Line. Monrovia is a city located in the foothills of the San Gabriel Mountains in the San Gabriel Valley of Los Angeles County, California, United States. The areas topography offers sweeping mountain views that is unique and stunningly beautiful. The population was 36,590 at the 2010 census. The population is expected to grow and draw professionals as the city of Monrovia is pro expansion and approved a new transit-oriented development taking place near Monrovias Gold Line Station. The Monrovia Station has nearly 1.5 million riders per month and as a result, the city has encouraged the development of over 1,000 luxury high-end apartment units within a 2-block radius of the station which is a short walk to the subject property.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T23:30:22.067. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131486801
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1222 S Magnolia Avenue Monrovia, CA 91016

  • Price: $1,395,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 34 min ago
  • ID#: AR22168858
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1949
Built
Neighborhood:
639 - Monrovia
County:
Los Angeles
Area:
639 - Monrovia
Property Description
1222 S Magnolia Ave, a charming triplex just south of Huntington Dr in Monrovia, CA. The property has an excellent location north of FWY210 and just minutes away from Old Town Monrovia on Myrtle Ave. This convenient and excellent location bordering Arcadia offers tenants unparalleled access to area amenities and make this property an easy to rent and operate apartment property. The property was built in 1949 and offers an excellent unit mix of two (2) 3bed+1.5bath, and one (1) 1bed+1bath. It is situated on an oversized lot of 10,679SF which provides ample parking and excellent upside to add ADU units in the back. Each unit is spacious with functional layout with recently updated dual pane windows. Each unit has individual laundry hookups and has individual water heater, electricity and gas. Owner pays for water, trash, and landscaping. The 3rd unit (1bed) has large private backyard. Parking is provided by 2 car garages and open spaces. There are total of 6 parking spaces (3 are tandem) with ability to add more due to its large backyard. The property has front gate and inner gate. There is a large shared backyard that is perfect for new owner to add ADU unit(s) (buyer to check with the citys planner about this). The property is strategically near Old Town Monrovia and just 2 blocks from Huntinton Drive retail corridor. This location is very convenient providing tenants easy access to retail, dining, shopping and groceries along Huntington Dr. and Myrtle Ave. Many national retailers such as Best Buy, Walmart are located within minutes of this property. This area is adjacent to affluent city like Arcadia. The new owners can enjoy its proximity to FWY 210 and the Monrovia Gold Line. Monrovia is a city located in the foothills of the San Gabriel Mountains in the San Gabriel Valley of Los Angeles County, California, United States. The areas topography offers sweeping mountain views that is unique and stunningly beautiful. The population was 36,590 at the 2010 census. The population is expected to grow and draw professionals as the city of Monrovia is pro expansion and approved a new transit-oriented development taking place near Monrovias Gold Line Station. The Monrovia Station has nearly 1.5 million riders per month and as a result, the city has encouraged the development of over 1,000 luxury high-end apartment units within a 2-block radius of the station which is a short walk to the subject property.
Exterior Features

Carport Spaces 0 Direction Faces West Lot Features Front YardLawnLandscapedStreet Level Number Of Separate Electric Meters 3 Open Parking Spaces 4 Parking Features CoveredGarage Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features SuburbanValley Contingency None Current Financing Conventional Electric Standard Garage YN Yes Gross Income 56400 Gross Scheduled Income 56400 Insurance Expense 1400 Land Lease YN No Laundry Features Washer HookupGas Dryer Hookup Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 31520 New Construction YN No New Taxes Expense 17630 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 3 Operating Expense 24880 Possession Close Of Escrow Property Sub Type Triplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 4700 Trash Expense 1200 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance 0 Vacancy Allowance Rate 0 Water Sewer Expense 1800 Water Source Public Zoning Morh*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T23:30:22.067. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)