231 E Walnut, Monrovia, California 91016, Monrovia, 91016 - 2 bed, 2 bath
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Monrovia, California 91016
This Renovated Traditional Home is a Strong Value Opportunity, listed at $875,000—positioned well below the $940,622 Fair Market Value by 6%. This valuation gap offers $65,622 in Instant Equity for buyers. Boasting a Condition Rating of 3, the interior features a remodeled kitchen with shaker cabinets and mountain views, while the oversized 7,577 sqft lot with RM 3500 zoning provides rare potential for an ADU or second unit. Located in the award-winning Mayflower Elementary district, this property is a perfect match for Owner-Occupants or Buy-and-Hold Investors seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 231 E Walnut Subject | $875,000* List Price | 2 | 2 | 1,204 | $781 | - |
A 421 W Colorado Boulevard Sold | $875,000 | 3 | 2 | 1,136 | $770 | 0.6 mi |
B 849 Oakdale Avenue Sold | $845,250 | 3 | 1 | 1,080 | $783 | 0.7 mi |
C 314 May Avenue Sold | $995,000 | 2 | 2 | 1,178 | $845 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features a recently renovated kitchen with modern grey shaker cabinets, stone countertops, and stainless steel appliances. While the bathroom and exterior areas show some signs of age consistent with the 1960 build year, the interior has been updated with wood-look tile flooring, new carpeting, recessed lighting, and fresh paint, requiring no immediate renovations for occupancy.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7577, living area = 1204.
The property features a large 7,577 sqft lot zoned RM 3500 / PUD, providing a rare opportunity to add an ADU or a second unit for rental income or multi-generational living.
Situated within the boundaries of the award-winning Mayflower Elementary and Clifton Middle schools, this location offers significant long-term value and appeal for families.
With only two bedrooms and approximately 1,204 square feet, the property may be less competitive for larger families compared to other single-family homes in the area.
Built in 1960, the home may require significant capital investment for modern upgrades or system replacements to meet current buyer expectations for efficiency and style.
Welcome to this charming 2-bedroom, 1.5 bathroom home situated on an expansive lot full of opportunity. This property offers the perfect blend of comfort, space, and future potential. The existing home features a functional layout with plenty of natural light, making it ideal for homeowners or investors alike. What truly sets this property apart is the oversized lot, providing ample room for expansion, outdoor living, or the addition of a second unit (ADU) due to the property being zoned RM 3500 / PUD which could allow for one unit per 3500 sq ft of lot size. Whether you’re looking to create additional rental income, accommodate extended family, or build your dream backyard retreat, the possibilities here are endless. Conveniently located with easy access to nearby amenities, this is a rare chance to own a property with both immediate livability and long-term upside. Situated in the award winning Mayflower Elementary and Clifton Middle schools. Don’t miss out on this versatile investment opportunity!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 21% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,204 | 1,596 | 24% |
| Lot Size | 7,577 | 7,514.5 | 52% |
| Price | $875.0K | $1.07M | 20% |
| Price per sq ft | $727 | $676 | 56% |
| Built year | 1960 | 1949 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 23 | 147 | 2% |
Mar 30, 2026
$875,000
Initial Listing