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Listed by Matthew J Modica • Long Dragon Realty Group, Inc.
$ 3,300,000
Est. payment | /mo
5,073 SqFt
$ 3,300,000
Est. payment | /mo
5,073 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,073 sqft
Price per Sqft $650
MLS Listing ID AR-25241101
Year Built 1916
Lot Size 19.853 Acres
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This prime Monrovia foothill offering presents a rare opportunity to acquire both a quality income-producing property and a high-potential development site in one. Currently generating steady rental income with a ~3% CAP rate, the property offers substantial room for improvement and future upside. It's ideal for investors who wish to maintain income while advancing subdivision or redevelopment plans, minimizing carrying costs during the entitlement process.
The portfolio comprises two contiguous parcels: 537 Cloverleaf Dr. (APN: 8503-001-029) — approximately 4.88 acres with a 2,683 SF dwelling AND 539 Cloverleaf Dr. (APN: 8503-002-008) — approximately 14.97 acres with a 2,390 SF dwelling
Together, the combined 19.85-acre property provides utilities on site. According to recent surveyor analysis, there is potential for 6 to 8 luxury single-family home lots. The optimal layout would likely include six primary lots, while two additional lots could be achieved with more complex hillside grading and retaining solutions.
Set amid the natural beauty of Monrovia's hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potential—a rare combination in one of the San Gabriel Valley's most desirable submarkets. All provided information should be confirmed by any interested parties.
The portfolio comprises two contiguous parcels: 537 Cloverleaf Dr. (APN: 8503-001-029) — approximately 4.88 acres with a 2,683 SF dwelling AND 539 Cloverleaf Dr. (APN: 8503-002-008) — approximately 14.97 acres with a 2,390 SF dwelling
Together, the combined 19.85-acre property provides utilities on site. According to recent surveyor analysis, there is potential for 6 to 8 luxury single-family home lots. The optimal layout would likely include six primary lots, while two additional lots could be achieved with more complex hillside grading and retaining solutions.
Set amid the natural beauty of Monrovia's hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potential—a rare combination in one of the San Gabriel Valley's most desirable submarkets. All provided information should be confirmed by any interested parties.
Location
State CA
County Los Angeles
Area 639 - Monrovia
Interior
Laundry None
Exterior
Pool None
Community Features Biking, Hiking
Building
Lot Description 0-1 Unit/Acre
Sewer Unknown
Nearby Locations
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114