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518 E Lime, Monrovia, California 91016, Monrovia, 91016 - 5 bed, 3 bath

518 E Lime, Monrovia, California 91016 home-pic-0
ACTIVE$1,300,000
518 E Lime, Monrovia, California 91016
5Beds
3Baths
1,437Sqft
7,993Lot
Year Built
1933
Close
-
List price
$1.3M
Original List price
$1.3M
Price/Sqft
$905
HOA
-
Days on market
-
Sold On
-
MLS number
AR25198753
Home ConditionExcellent
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.30M(71th), sqft - 1437(14th), beds - 5(79th), baths - 3(64th).

Wonderful opportunity to own two separate homes on one lot, ideally located in the heart of city of Monrovia. Just a short walk to Old Town Monrovia, where you’ll enjoy boutique shopping, dining, the Friday farmers market, and year-round community events. Both homes are thoughtfully positioned for privacy, with the back house offering private alley access—perfect for extended family, guest accommodations, or rental income. An incredible value: all pictured furniture and appliances are included, saving you time and thousands in setup costs. Property Features: Front Unit – 520 E Lime Ave: 3 bedrooms, 2 bathrooms. Back Unit – 518 E Lime Ave: 2 bedrooms, 1 bathroom, with a two-car carport and private alley access. Recent Upgrades Include: New roof (2023), Fully renovated front house. Back unit updates: new kitchen, new flooring, fresh interior & exterior paint. Both units equipped with new mini-split systems for cooling. Both units have newer, energy-efficient water heaters. Separate gas and electricity meters for each unit. Residential income listing AR 25199431

Price History

Date
Event
Price
09/04/25
Listing
$1,300,000
Condition Rating
Excellent
Despite being built in 1933, the property has undergone extensive recent renovations, including a new roof (2023), a fully renovated front house, and significant updates to the back unit (new kitchen, new flooring, fresh paint). The images confirm modern, virtually new kitchens with stainless steel appliances and contemporary white cabinetry, and bathrooms featuring stylish tiling, new vanities, and fixtures. New mini-split systems for cooling and newer energy-efficient water heaters further enhance its condition, making it feel like a newly renovated home meeting current quality standards.
Pros & Cons

Pros

Income Potential & Versatility: Features two separate homes on one lot with individual meters, ideal for rental income, multi-generational living, or guest accommodations.
Prime Walkable Location: Situated in the heart of Monrovia, offering a short walk to Old Town's boutique shopping, dining, farmers market, and community events.
Extensive Recent Upgrades: Boasts a new roof (2023), fully renovated front house, updated kitchen/flooring/paint in the back unit, new mini-split AC systems, and newer energy-efficient water heaters.
Privacy & Separate Access: Homes are thoughtfully positioned for privacy, with the back unit benefiting from private alley access and a two-car carport.
Turnkey Inclusions: All pictured furniture and appliances are included, providing significant savings and a ready-to-move-in or rent-out opportunity.

Cons

Age of Original Structure: Built in 1933, the underlying infrastructure, despite recent cosmetic and system upgrades, may still present potential long-term maintenance considerations.
Compact Unit Sizes: The total square footage of 1437 sqft for two units (3 bed/2 bath and 2 bed/1 bath) suggests relatively compact living spaces for each, which may not suit all buyer preferences.
Unspecified Front Unit Parking: While the back unit has a dedicated two-car carport, the description does not specify dedicated parking for the front unit, potentially relying on street parking.

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