Rare 14 Unit multi-family asset available for purchase in north Monrovia with an irreplaceable location less than 1 block to Old Town Monrovia! Owned and meticulously maintained by the same family for over 30+ years, the subject property offers a desirable unit mix, significant upside in rental income, and a Grade A location steps to dining, shopping, and city services. The unit mix is comprised of two (2-Bedroom/1- Bathroom) two-story townhouse-style units, and twelve (2-Bedroom/1-Bathroom) units. Most units offer either a private patio on the ground floor or a private balcony off the second floor. Total rentable square footage is 15,540 situated on 3 separate lots for a grand total of 21,224 sqft of land. Tenants enjoy onsite car-port parking, onsite laundry facility, and wall A/C & Heat. Priced at 15 GRM and 4.5% CAP Rate (on actual current rents) this investment opportunity is poised for a new buyer looking for a pride of ownership location, that offers a promising future of further rent growth and appreciation, and that warrants further capital improvement to increase the overall quality and value of the asset.
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