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502 E Cherry Avenue, Monrovia, CA

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502 E Cherry Avenue

Monrovia, CA 91016-4215 - Monrovia MF Submarket

Property Type:Multi-Family Number of Units:4 Status:Existing Year Built:1929
Stories:- Building Size:4,229 SF Land Area:.31 AC (13,504 SF)
For Sale Price:$1,212,000 Price/Unit:$303,000.00 Cap Rate:4.51 % GRM:14.70


Sale Notes:
Team Luchs of Marcus & Millichap is proud to present this four unit apartment building located in the highly desirable Monrovia rental market North of the 210 Freeway. Built in 1929, this property offers four separate buildings with covered and uncovered parking for tenants or guests. Located in a quiet area of Monrovia, this property offers great upside potential and with all the new development in the area this is a great opportunity to invest in one of San Gabriel Valley's top rental submarkets.

The property is located in a prime area of Monrovia and just minutes away from the New Gold Line Station , shopping areas , restaurants, and the famous Old Town Monrovia with a nice farmers market and entertainment for the community. This is a true "Value Add " opportunity.

Marcus & Millichap Inc
Joshua Luchs
(818) 212-2779

Dante Underwood
(818) 212-2797

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