616 S 5th Avenue, Monrovia, CA 91016
Local realty services provided by:Better Homes and Gardens Real Estate Royal & Associates
616 S 5th Avenue,Monrovia, CA 91016
$1,375,000
- 4 Beds
- - Baths
- 2,522 sq. ft.
- Multi-family
- Active
Listed by: john swartz, jacqueline carroll
Office: compass
MLS#:CL26843347
Source:Bay East, CCAR, bridgeMLS
Price summary
- Price:$1,375,000
- Price per sq. ft.:$545.2
About this home
616 S 5th Avenue in Monrovia, CA. The property is a well-positioned three-unit multifamily asset in the heart of Monrovia, one of the San Gabriel Valley's most resilient and supply-constrained rental markets. Built in 1948, the property sits on a generous 8,294 square foot lot with 2,522 square feet of building area, offering a spacious, low-density configuration that is increasingly rare in today's market. The property is subject to AB-1482 however, it is not subject to any local rent control. Under AB-1482, ownership can raise rents 8.7% within 30 days of close bringing the GRM to 16.7. The unit mix consists of two two-bedroom/one-bath apartments and one two-bedroom/one-bath standalone house, creating a diverse and appealing offering for a broad range of tenants. The property's physical footprint is one of its most compelling attributes. The front house benefits from both a front yard and a rear yard area, offering a level of private outdoor space rarely found in multifamily product of this size. The two rear units each enjoy their own private outdoor patio areas, providing tenants with a sense of privacy and separation that drives retention and supports premium rents. All three units are equipped with washer/dryer hookups, and on-site garages provide additional storage for tenants. Tenants are responsible for electricity and gas, keeping landlord utility exposure limited to water, trash, and gardening.A prospective buyer should note the significant value-add potential presented by the on-site garage structures. Subject to City of Monrovia approval and applicable building requirements, the existing garages may be eligible for conversion into Accessory Dwelling Units (ADUs) an increasingly viable strategy under California's expanded ADU legislation. A successful conversion could meaningfully increase the property's unit count and gross rental income without the need for ground-up construction, offering a compelling path to enhanced yield and long-term asset appreciation. Prospective purchasers are encouraged to conduct their own independent due diligence with the City of Monrovia Planning Department and a qualified contractor to evaluate feasibility, permitting requirements, and projected conversion costs.Situated in Monrovia's established residential core, the property benefits from convenient access to major employment corridors throughout the San Gabriel Valley and the greater Los Angeles basin. The 210 Freeway is moments away, connecting residents to...
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Home facts
- Year built:1948
- Listing ID #:CL26843347
- Added:61 day(s) ago
- Updated:August 06, 2026 at 02:22 PM
Rooms and interior
- Bedrooms:4
- Living area:2,522 sq. ft.
Heating and cooling
- Heating:Electric
Structure and exterior
- Year built:1948
- Building area:2,522 sq. ft.
- Lot area:0.19 Acres
Finances and disclosures
- Price:$1,375,000
- Price per sq. ft.:$545.2
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