327 W Lemon Avenue, Monrovia, California 91016, Monrovia, 91016 - 0 bed, 0 bath
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Monrovia, California 91016
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,100,000—positioned well below the $1,111,816 Fair Market Value by 1%. This valuation gap offers $11,816 in Instant Equity. Featuring a Condition Rating of 4, the property requires modernization to maximize rental yields. Its versatile unit mix and prime location near Old Town Monrovia ensure strong tenant demand. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a stable income-producing asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 327 W Lemon Avenue Subject | $1,100,000* List Price | 0 | 0 | 1,878 | $592 | - |
A 132 Poinsettia Avenue Sold | $1,285,000 | 0 | 0 | 2,148 | $598 | 0.7 mi |
B 132 Poinsettia Avenue Sold | $1,285,000 | 5 | 4 | 2,148 | $598 | 0.7 mi |
C 244 E Lime Sold | $985,000 | 0 | 0 | 1,480 | $666 | 0.5 mi |
D 244 E Lime Sold | $985,000 | 4 | 2 | 1,480 | $666 | 0.5 mi |
E 902 W Olive Sold | $950,000 | 0 | 0 | 1,568 | $606 | 0.7 mi |
F 709 S Magnolia Active Under Contract | $1,200,000 List Price | 0 | 0 | 1,909 | $629 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1906, this property is significantly aged. While it remains functional as a tenanted triplex, the lack of mentioned recent renovations suggests the kitchens, bathrooms, and core systems (HVAC/Electric) are dated and likely over 20 years old, requiring minor repairs and aesthetic updates to reach modern standards.
Situated in the heart of Monrovia near Old Town and the 210 Freeway, the property offers exceptional walkability and convenience, ensuring high tenant demand and low vacancy rates.
The triplex configuration of one 2BR/1.5BA, one 2BR/1BA, and one 1BR/1BA unit provides a diverse rental portfolio that appeals to various tenant profiles and maximizes income potential.
With over 8,000 square feet of land, this property offers a generous lot for a triplex, providing potential for future value-add improvements or enhanced outdoor amenities for tenants.
Built in 1906, the property's age suggests potential needs for significant capital expenditures to modernize aging infrastructure, such as plumbing, electrical, and foundation systems.
With only 1,878 total square feet shared across three units, the individual living spaces are relatively compact, which may limit the ability to command top-tier market rents.
Location, Location, Location! Exceptional investment opportunity in the heart of Monrovia! Just moments from vibrant Old Town Monrovia, with its popular restaurants, shops, parks, and year-round community events, this well-located triplex also offers quick and convenient access to the 210 Freeway, making it highly desirable for tenants. The property features an excellent unit mix consisting of Unit 1: 2 bedrooms, 1.5 bathrooms; Unit 2: 1 bedroom, 1 bathroom; and Unit 3: 2 bedrooms, 1 bathroom, providing strong rental appeal and outstanding income potential. Whether you're looking to expand your investment portfolio or own an income-producing property in one of the San Gabriel Valley's most sought-after neighborhoods, this is an opportunity you won't want to miss. Prime location and close proximity to everything Monrovia has to offer make this a standout investment. Please do not disturb the tenants or walk onto the property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,878 | 2,540 |
| Lot Size | 8,076 | 14,461 |
| Price | $1.10M | $1.19M |
| Price per sq ft | $586 | $599 |
| Built year | 1906 | 1947 |
| HOA | $0 | $0 |
| Days on market | 8 | 46 |
Jul 14, 2026
$1,100,000
Initial Listing
May 13, 2004
$420,000
Public Record