307 N Terrace View, Monrovia, California 91016, Monrovia, 91016 - 4 bed, 3 bath
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Monrovia, California 91016
This Versatile Foothill Estate is a Prime Investment Opportunity listed at $2,300,000—positioned well below the $2,376,647 Fair Market Value by 3%. This valuation gap offers $76,647 in Instant Equity. Maintaining a High Condition Rating, the residence features Panoramic Mountain Views and access to the prestigious Arcadia Unified School District. The Detached Garage presents a major value-add opportunity for an ADU conversion or guest house. It is an ideal match for Owner-Occupants or Multi-generational Families prioritizing both lifestyle and equity growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 307 N Terrace View Subject | $2,300,000* List Price | 4 | 3 | 3,620 | $657 | - |
A 357 N Mayflower Avenue Sold | $2,341,625 | 5 | 4 | 3,303 | $709 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained, featuring several recent aesthetic updates including modern wide-plank flooring, contemporary light fixtures, and quartz countertops. While the kitchen retains some dated elements such as the original 1980s floor tile and older built-in appliances, the overall condition is high, and the home does not require immediate renovation for occupancy.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 21498, living area = 3620.
The expansive detached garage presents a significant opportunity for conversion into a guest house or ADU, offering substantial upside for rental income or multigenerational living.
Nestled in the Monrovia foothills, the property provides stunning, unobstructed views of the mountains and city lights, a premium feature that enhances both lifestyle and resale value.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
While functional, the property is noted to have room for further enhancement and customization, suggesting that buyers may need to budget for additional updates to achieve a fully modern aesthetic.
The $420 monthly association fee adds a consistent carrying cost that may be a drawback for buyers seeking a single-family residence without the oversight or financial obligations of an HOA.
One of just 18 custom homes in the exclusive Terrace View Estates, this foothill property offers scenic views, a generous lot, and a rare detached garage ideal for ADU potential. Set on a generous lot, the home enjoys beautiful natural surroundings while remaining conveniently close to top-rated schools and local amenities. A true standout feature is the expansive detached garage—an ideal candidate for conversion into a guest house, studio, or potential ADU (buyer to verify). Whether for multigenerational living, a private workspace, or future rental income, the possibilities are substantial. The home itself features a functional layout with thoughtful updates already in place, offering immediate comfort with room to further enhance and customize. All of this is complemented by a low HOA, adding to the property’s long-term affordability and appeal. Opportunities like this—combining view, versatility, and upside potential—are rarely available in such a sought-after setting.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 69% |
| Baths | 3.0 | 2.0 | 63% |
| Square foot | 3,620 | 1,653 | 90% |
| Lot Size | 21,498 | 7,521 | 90% |
| Price | $2.30M | $1.10M | 95% |
| Price per sq ft | $635 | $675 | 38% |
| Built year | 1987 | 1949 | 86% |
| HOA | $420.0 | $0 | 98% |
| Days on market | 29 | 142 | 2% |
Mar 24, 2026
$2,300,000
Initial Listing
May 26, 2020
$1,795,000
Public Record