709 S Magnolia, Monrovia, California 91016, Monrovia, 91016 - 0 bed, 0 bath
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Monrovia, California 91016
This Value-Add Multi-Family Asset is offered at a $1,200,000 List Price, positioned near its $1,171,238 Fair Market Value. Maintaining a Fair Condition Rating, this 1924 triplex provides a stable income stream with significant upside through ADU Development Potential in the 450 SF detached garage. Its strategic location within walking distance to Old Town Monrovia and the Metro A Line ensures high tenant demand and long-term appreciation. This property represents a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-utility asset in the Monrovia Unified School District.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 709 S Magnolia Subject | $1,200,000* List Price | 0 | 0 | 1,909 | $614 | - |
A 717 S Magnolia Avenue Sold | $1,550,000 | 0 | 0 | 1,964 | $789 | 0.0 mi |
B 902 W Olive Sold | $950,000 | 0 | 0 | 1,568 | $606 | 0.8 mi |
C 307 E Olive Sold | $1,023,000 | 0 | 0 | 2,079 | $492 | 0.5 mi |
D 604 E Lemon Avenue Sold | $937,000 | 0 | 0 | 1,780 | $526 | 0.8 mi |
E 126 E Cypress Avenue Sold | $845,000 | 0 | 0 | 1,532 | $552 | 0.5 mi |
F 244 E Lime Active | $980,000 List Price | 4 | 2 | 1,480 | $662 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1924, this triplex is well-maintained but shows significant signs of age. The kitchens and bathrooms feature dated cabinetry, older tile work, and white/black appliances rather than modern stainless steel. While the property appears clean and functional for tenants, the interior finishes, flooring, and fixtures are outdated and have not undergone a full modern renovation within the last 15-20 years, fitting the 'Fair' criteria for aged but functional infrastructure.
The 450 SF detached garage offers a prime opportunity to convert into a fourth unit, significantly increasing the property's total rental yield and long-term value.
Located within walking distance to the Metro A Line and Old Town Monrovia, the property is ideally positioned to attract high-quality tenants seeking urban convenience and easy freeway access.
With gas and electricity separately metered for each of the three units, the landlord's operational expenses are minimized while simplifying utility management.
Built in 1924, the property may require significant capital investment to update aging systems or address structural maintenance typical of historic multi-family buildings.
The property is currently tenant-occupied with strict 'do not disturb' instructions, which can complicate the due diligence process and delay immediate renovation or repositioning plans.
Rare Monrovia triplex featuring three distinct units, just a short distance to Old Town Monrovia, the Metro A Line station, shops, restaurants, the Monrovia Public Library, and easy I-210 Freeway access. Situated on a generous 8,163 SF lot with 1,909 SF of living area across 3 buildings, gas and electric are separately metered and each unit has its own utilities. Located in the Monrovia Unified School District. Unit#1 — Front unit with curb appeal and front picket fence: 2 bedrooms, 1 bath, approximately 1,100 sq ft,in-unit laundry hookups, and 4 parking spaces. Unit#2 — Middle: 1 bedroom, 1 bath, approximately 800 sq ft, in-unit laundry hookups, with 2 parking spaces. Unit#3 — Rear: 1 bedroom, 1 bath, approximately 500 sq ft, in-unit laundry hookups, with 2 parking spaces. Also the property features a 2-car garage used by the landlord. The detached garage is approximately 450 sq ft and presents a great ADU opportunity to add a fourth unit — buyer to verify with the City of Monrovia. Monrovia is a 2024 All-America City Award winner with a beloved weekly Friday Night Street Fair and miles of hiking trails at the foothills of the San Gabriel Mountains. Do not disturb tenents are walk on the property w/out appointment. Thx!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,909 | 2,024 | 33% |
| Lot Size | 8,166 | 8,000 | 60% |
| Price | $1.20M | $1.13M | 53% |
| Price per sq ft | $629 | $557 | 73% |
| Built year | 1924 | 1946 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 42 | 188 | 7% |
Mar 11, 2026
$1,200,000
Initial Listing
Sep 27, 2010
$460,000
Public Record