
Monrovia, California 91016
This High-Potential Investment Opportunity is a Turnkey Duplex listed at $1,760,000, reflecting a premium market position relative to its $1,602,671 Fair Market Value. Featuring a Condition Rating of 2 following a complete "to-the-studs" renovation, the property offers immediate rental readiness with high-end finishes and new systems. The site provides significant upside through approved plans for a 496sf Garage ADU and space for a 1,000sf detached ADU. This versatile asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset housing costs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 612 614 E Colorado Boulevard Subject | $1,680,000* List Price | 0 | 0 | 2,057 | $772 | - |
A 526 E Olive Avenue A Sold | $1,250,000 | 0 | 0 | 1,601 | $781 | 0.1 mi |
B 132 Poinsettia Avenue Sold | $1,285,000 | 0 | 0 | 2,148 | $598 | 0.5 mi |
C 132 Poinsettia Avenue Sold | $1,285,000 | 5 | 4 | 2,148 | $598 | 0.5 mi |
D 239 W Palm Sold | $1,700,000 | 0 | 0 | 2,477 | $686 | 0.8 mi |
E 720 Ocean View Sold | $1,188,000 | 0 | 0 | 1,363 | $872 | 0.5 mi |
F 720 Ocean View Sold | $1,188,000 | 2 | 2 | 1,363 | $872 | 0.5 mi |
G 179 N Ivy Sold | $1,260,000 | 4 | 3 | 1,874 | $672 | 0.7 mi |
H 210 N Encinitas Avenue Sold | $1,459,000 | 4 | 3 | 1,995 | $731 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent a complete 'to the studs' renovation within the last year, featuring all-new systems (HVAC, electrical, plumbing, roof, and tankless water heaters). The interior is in mint condition with modern kitchens, new cabinetry, premium engineered wood flooring, and all-new appliances, meeting the criteria for a recent high-end remodel.
The property has undergone an extensive 'to the studs' renovation including new plumbing, electrical, roof, HVAC, and windows, providing a turnkey experience with significantly reduced immediate maintenance concerns.
With approved plans for a 496sf garage-to-ADU conversion and space for an additional ~1,000sf detached ADU, the property offers massive upside for increasing density and rental yield.
Situated just blocks from Old Town Monrovia’s dining and shopping, and near the A Line and 210 Freeway, the location ensures high tenant demand and long-term desirability.
The list price reflects a significant markup from its recent sale price, capturing much of the renovation value upfront and potentially limiting immediate equity gains for the next buyer.
The rear unit is limited to approximately 500 square feet, which may feel restrictive for long-term tenants or families despite the flexible den configuration.
JUST REDUCED BY $80k! Approved/Stamped Garage ADU conversion plans included so you can start the value-add right away! Two homes on one lot, blocks from Old Town Monrovia, with all the expensive permitted remodel work done. The front house (#612) lives like an elegant single-family residence: ~1,550+sf, 3 bedrooms, 3 baths, plus a flexible bonus den that works as an office, guest room, or 4th bedroom. The primary suite offers a room-size walk-in closet and en-suite bath, while the secondary suite enjoys its own private entrance, ¾ bath, walk-in closet, and sink — ready to be permitted as a JADU. The spacious galley kitchen, thoughtfully designed, opens to the living and dining areas, creating a comfortable and inviting space for everyday living and entertaining. The detached rear unit (#614) above the garage: a private ~500sf unit — 1 bedroom, a den with closet space easily serves as a 2nd bedroom, ¾ bath, efficiency kitchen, and living room is immediately income-producing. A renovation to the studs: new plumbing, new electrical with new meter & subpanels, tankless water heaters for both units, new roof, new central A/C, new mini-split, new premium waterproof engineered wood flooring, new cabinetry, new decking, all new windows, and all-new appliances. The existing 2-car garage has approved plans permitted for a 496sf ADU conversion, and the oversized courtyard offers room for an additional ~1,000sf detached ADU. Buyer to verify all development potential with the City of Monrovia and perform own due diligence. Live in front, collect income in back, and grow into the lot! Few San Gabriel Valley properties let an owner-occupant offset their housing cost while building a multi-unit portfolio on a single parcel. An excellent move-in-ready option for owner-users, multigenerational families, and investors. Lots of mature trees like Mango, Avocado, Lemon & Orange!! Short walk to the vibrant Old Town, Myrtle Avenue dining, Library Park, and shopping, with the A Line and the 210 Freeway minutes away. An extraordinary property offering versatility, quality, and future upside! A rare opportunity not to be missed!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.9 |
| Baths | 0.0 | 2.1 |
| Square foot | 2,057 | 1,626 |
| Lot Size | 8,472 | 8,274 |
| Price | $1.68M | $1.16M |
| Price per sq ft | $817 | $706 |
| Built year | 1948 | 1925 |
| HOA | $0 | $0 |
| Days on market | 43 | 70 |
Aug 22, 2026
$1,680,000
$1,760,000
-5% Price Drop
Initial Listing
Jul 28, 2026
$1,760,000
Initial Listing
Jun 5, 2024
$1,029,000
Public Record
Jun 3, 2024
$970,000
Public Record