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$3,980,000
Est. payment /mo
19.85 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25241101
HOA Y/N No
Year Built 1916
Lot Size 19.852 Acres
Property Sub-Type Quadruplex
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
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Hiking
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Unknown
Water Public
New Construction No
Others
Senior Community No
Tax ID 8503001029
Energy Description 1.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Matthew Modica Long Dragon Realty Group, Inc. 774-218-8941
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