239 W Palm, Monrovia, California 91016, Monrovia, 91016 - 0 bed, 0 bath
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Monrovia, California 91016
This Triplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $1,588,000—positioned slightly above the $1,561,037 Fair Market Value. Despite the premium, the property features a Condition Rating of 2, offering a turnkey, fully renovated interior and exterior. With all units delivered vacant, this property provides immediate leasing flexibility or the perfect setup for an owner-occupant. Its prime location one block from Old Town Monrovia and expansive 11,707 sqft lot make it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-quality, low-maintenance compound.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 239 W Palm Subject | $1,588,000* List Price | 0 | 0 | 2,477 | $630 | - |
A 132 Poinsettia Avenue Sold | $1,285,000 | 5 | 4 | 2,148 | $598 | 0.6 mi |
B 132 Poinsettia Avenue Sold | $1,285,000 | 0 | 0 | 2,148 | $598 | 0.6 mi |
C 210 N Encinitas Avenue Sold | $1,459,000 | 4 | 3 | 1,995 | $731 | 0.5 mi |
D 179 N Ivy Sold | $1,260,000 | 4 | 3 | 1,874 | $672 | 0.5 mi |
E 415 E Walnut Avenue Sold | $1,128,000 | 0 | 0 | 2,024 | $557 | 0.7 mi |
F 415 E Walnut Sold | $1,128,000 | 6 | 2 | 2,024 | $557 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1922, the property has undergone a comprehensive recent renovation (likely <5 years) including a remodeled kitchen with quartz countertops and stainless steel appliances, updated electrical, a newer roof, and central HVAC. The interior and exterior are newly painted and in mint, move-in-ready condition.
Situated just one block from Old Town Monrovia, the property offers exceptional walkability to premium dining, shopping, and entertainment, significantly boosting its desirability and rental demand.
All three units are delivered vacant and feature extensive recent upgrades including a newer roof, updated electrical, central HVAC, and fresh paint, allowing for immediate market-rate leasing or owner-occupancy.
The oversized 11,707 sqft lot provides rare privacy with individual yards for each unit and a detached back house, offering a unique configuration that functions more like a residential compound than a standard apartment block.
Built in 1922, the property may require more frequent long-term maintenance and specialized care typical of century-old structures, despite the recent cosmetic and system updates.
With a list price of $1.588M, the initial capitalization rate may be lower for pure investors, requiring high-end management to justify the acquisition cost in the current interest rate environment.
ALL UNITS VACANT. A beautiful tri-plex with a Huge lot. Perfect for owner occupied and a great investment. There is so much potential for this property. Two substantial Living units with an attached one bedroom studio. Each unit has a private grassy yard or a private patio. Front unit has great open and bright floorplan with spacious 2 bedrooms and one remodeled bathroom, large living area and dining area with wonderful natural light throughout the day, separated family room off of remodeled kitchen with breakfast bar. Laundry room/pantry. Front unit has a carriage house style garage with a private enclosed driveway that could also be a wonderful patio for entertaining. The studio unit is attached to the front unit and is accessed from the other side of the structure. This unit features a concrete porch overlooking the gorgeous yard, living area, small kitchen and a bedroom with sliders to the patio. The detached unit in the back is completely enclosed with a private yard and a detached double garage and a parking space accessed through the alley in the back. This unit has 2 separate entries with a great living area with fireplace, large kitchen with eating area and 2 bedrooms and a bathroom. This units yard area is fully enclosed with a spacious side yard and a private backyard and is perfect for kids and/or pets. Other highlights of this property include updated electrical, newer roof, newer landscaping, Central air conditioning and heating, newly painted interiors and exteriors on all structures. Aside from all the wonderful charm and character this property has it is just one block from Old Town Monrovia. Just around the corner from a beautiful park, fitness center, great restaurants, fantastic shopping, movie theater and coffee shops and easy access to freeways.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,477 | 1,995 | 76% |
| Lot Size | 11,707 | 6,601 | 94% |
| Price | $1.59M | $1.28M | 82% |
| Price per sq ft | $641 | $606 | 53% |
| Built year | 1922 | 1952 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 1 | 91 | 6% |
Jun 5, 2026
$1,588,000
Initial Listing
Feb 10, 2017
$905,000
Public Record
Jun 30, 2016
$663,500
Public Record