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330 N Madison Avenue, Monrovia, California 91016, Monrovia, 91016 - 2 bed, 2 bath

330 N Madison Avenue, Monrovia, California 91016 home-pic-0
ACTIVE$1,388,000
330 N Madison Avenue, Monrovia, California 91016
2Beds
2Baths
1,129Sqft
44,218Lot
Year Built
1942
Close
-
List price
$1.39M
Original List price
$1.39M
Price/Sqft
$1,229
HOA
-
Days on market
-
Sold On
-
MLS number
WS24246255
Home ConditionTear down
Features
Good View: Mountain(s)
Patio
ViewMountain(s)

About this home

We found 3 Cons,6 Pros. Rank: price - $1.39M(84th), sqft - 1129(23th), beds - 2(21th), baths - 2(50th).

Welcome to 330 N Madison Ave, Monrovia, an exceptional opportunity to build your dream home in one of the most desirable areas, just adjacent to Arcadia. This property is part of a private gated community and offers stunning mountain views. The expansive lot measures an impressive 44,218 square feet, providing ample space for future development. The property currently includes a 2-car detached garage and features newly installed vinyl flooring throughout, along with fresh paint both inside and out. This is a rare chance to secure a large, well-located parcel in Monrovia, with the potential to create a custom home that meets all your needs. This property is ideal for those looking to invest in a premium location with plenty of space and scenic surroundings. Don't miss out on this unique offering.

Condition Rating
Tear down
The property was built in 1942, making it over 80 years old. While it features newly installed vinyl flooring and fresh paint, these are cosmetic updates and do not constitute a major renovation. The kitchen and bathroom are extremely dated, with original-style cabinets, tile countertops, and basic fixtures, indicating no significant updates in over 50 years. The listing description itself emphasizes the 'exceptional opportunity to build your dream home' and the 'potential to create a custom home,' with the property analysis explicitly stating the 'outdated existing structure' is 'likely a tear-down candidate or requires extensive renovation.' The value is clearly in the expansive 44,218 sqft lot for redevelopment, aligning with the 'tear-down' criteria where the structure is beyond practical repair for modern living and its value is based solely on the land.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 44218, living area = 1129.
Expansive Development Lot: An impressive 44,218 square foot lot provides vast space for future development and building a custom dream home.
Premium Location: Situated in a highly desirable area of Monrovia, adjacent to Arcadia, enhancing its investment appeal and desirability.
Private Gated Community: Part of a private gated community, offering enhanced security, exclusivity, and a desirable living environment.
Stunning Mountain Views: The property boasts stunning mountain views, adding significant aesthetic value and appeal.
Development-Ready Potential: Explicitly marketed as an exceptional opportunity to build a dream home, indicating the primary value lies in the land and its development potential.

Cons

Outdated Existing Structure: The 1942-built, 1129 sqft home is likely a tear-down candidate or requires extensive renovation, adding substantial costs to the overall project.
Significant Capital Investment Required: The property's primary value is in its development potential, necessitating a substantial additional investment for construction beyond the purchase price.
Limited Immediate Livability: The small, older existing structure may not meet modern living standards or space requirements, making it less suitable for immediate move-in without major plans.

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