520 E Lime Avenue, Monrovia, California 91016, Monrovia, 91016 - 5 bed, 3 bath
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Monrovia, California 91016
This Turnkey Income-Producing Duplex is a Strong Value Opportunity, listed at $999,000—positioned well below the $1,078,441 Fair Market Value by 7%. This valuation gap offers $79,441 in Instant Equity. Boasting an Excellent Condition Rating following extensive renovations, the property features two detached homes with mountain views, new kitchens, and a new roof. With the rear unit generating $3,100 in monthly rental income, this asset provides a rare house-hacking advantage within the Monrovia Unified School District. It is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 520 E Lime Avenue Subject | $999,000* List Price | 5 | 3 | 1,437 | $759 | - |
A 746 Wildrose Sold | $1,226,000 | 3 | 4 | 1,504 | $815 | 0.3 mi |
B 128 N Ivy Sold | $1,120,000 | 3 | 2 | 1,700 | $659 | 0.5 mi |
C 375 N Canyon Boulevard Sold | $980,000 | 3 | 2 | 1,303 | $752 | 0.8 mi |
D 357 N Mountain Avenue Sold | $1,230,000 | 4 | 2 | 1,660 | $741 | 0.7 mi |
E 128 N Ivy Avenue Sold | $1,120,000 | 0 | 0 | 1,700 | $659 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1933, the property has undergone an extensive recent renovation within the last 5 years, qualifying it for an excellent rating. The interior features a brand-new kitchen with white shaker cabinets, stone countertops, and new stainless steel appliances (with protective film still intact). The bathrooms have been upgraded, and the home features modern wide-plank laminate flooring, new ceiling fans, and updated climate control systems including mini-splits. With a new roof and fully refreshed interiors, the property shows no deferred maintenance and meets modern quality standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7995, living area = 1437.
Featuring two detached homes on one lot, this property offers incredible flexibility for owner-users to live in the vacant 3-bedroom front unit while collecting $3,100/month in immediate rental income from the rear unit.
The property boasts significant recent upgrades, including a new roof, updated kitchens and bathrooms, and energy-efficient mini-split systems, minimizing immediate maintenance requirements for a new owner.
With only 1,437 total square feet divided between two separate dwellings, the individual living areas and bedrooms are relatively small, which may limit appeal for families requiring larger interior spaces.
The presence of two detached homes on a single lot, combined with reliance on a carport and alley access, may result in limited on-site parking and reduced outdoor privacy compared to traditional single-family residences.
Excellent opportunity to own a well-maintained duplex in the heart of Monrovia. This property features two separate detached homes on one lot, ideal for both owner-users and investors.The front home (520 E Lime Ave) can be delivered vacant and offers 3 bedrooms and 2 bathrooms, complete with a new kitchen and upgraded bathrooms, making it move-in ready. The rear home (518 E Lime Ave) includes 2 bedrooms and 1 bathroom, features private alley access and a two-car carport, and is currently generating $3,100 per month in rental income.Recent improvements include a new roof, updated interiors, mini-split systems, and separate gas and electric meters for each unit. The layout provides privacy between units, enhancing its appeal for multi-generational living or rental purposes.Located in a desirable neighborhood with access to great schools, this property presents a rare opportunity to live in one unit while generating income from the other or maximize returns as an investment. Just a short distance from Old Town Monrovia, offering dining, shopping, and community events.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 3.0 | 2.0 | 63% |
| Square foot | 1,437 | 1,605 | 41% |
| Lot Size | 7,995 | 7,521 | 59% |
| Price | $999.0K | $1.07M | 42% |
| Price per sq ft | $695 | $677 | 53% |
| Built year | 1933 | 1948 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 34 | 142 | 2% |
Mar 19, 2026
$999,000
Initial Listing