902 W Olive, Monrovia, California 91016, Monrovia, 91016 - bed, bath
ACTIVE$1,200,000
902 W Olive, Monrovia, California 91016
0Bed
0Bath
1,568Sqft
8,739Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Dual Income Potential: The property features two independent single-family homes on one lot, each with separate utility meters, offering strong rental income opportunities or owner-occupant flexibility.
Top Cons:
Property Age & Condition: Built in 1955, the property's age suggests potential for deferred maintenance, outdated systems, or the need for significant capital expenditure for modernization.
Compared to the nearby listings
Price:$1.20M vs avg $976.0K (+$224,000)71%
Size:1,568 sqft vs avg 1,890 sqft36%
Price/sqft:$765 vs avg $57793%
More Insights
Built in 1955 (70 years old).
Condition: Built in 1955, this property's exterior, with older windows and a visible wall-mounted AC unit, suggests that the overall condition, including kitchens and bathrooms, is likely dated. While appearing maintained and habitable, there are no indications of recent major renovations. The property analysis also points to 'outdated systems' and a 'need for significant capital expenditure for modernization,' aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor to moderate updates.
Year Built
1955
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$765
HOA
-
Days on market
-
Sold On
-
MLS number
PW25266621
Home ConditionFair
Features
View-
About this home
Exciting Investment Opportunity! Discover two charming single-family homes on one lot, each featuring 2 bedrooms, 1 bathroom, separate utility meters, and access to a shared 2-car garage. This versatile property is perfect for owner-occupants looking to live in one home and rent out the other, or for investors seeking strong rental income by leasing both units. Located in a desirable area close to freeways, shopping, and restaurants, this property offers convenience, flexibility, and excellent long-term potential.
Condition Rating
Fair
Built in 1955, this property's exterior, with older windows and a visible wall-mounted AC unit, suggests that the overall condition, including kitchens and bathrooms, is likely dated. While appearing maintained and habitable, there are no indications of recent major renovations. The property analysis also points to 'outdated systems' and a 'need for significant capital expenditure for modernization,' aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor to moderate updates.
Pros & Cons
Pros
Dual Income Potential: The property features two independent single-family homes on one lot, each with separate utility meters, offering strong rental income opportunities or owner-occupant flexibility.
Prime Location: Situated in a desirable Monrovia area, providing convenient access to freeways, shopping, and dining, which enhances tenant appeal and long-term property value.
Versatile Investment: Appeals to a broad buyer pool, suitable for owner-occupants seeking supplemental income or pure investors looking to expand their rental portfolio.
Generous Lot Size: An 8,739 sqft lot offers potential for outdoor living, landscaping, or future expansion possibilities.
Dedicated Parking: Includes access to a shared 2-car garage, providing valuable off-street parking and storage for residents.
Cons
Property Age & Condition: Built in 1955, the property's age suggests potential for deferred maintenance, outdated systems, or the need for significant capital expenditure for modernization.
Limited Bathroom Count: Each 2-bedroom unit features only one bathroom, which may be a functional limitation for larger families or multiple occupants, potentially narrowing the tenant pool.
Compact Unit Sizes: With a total of 1,568 sqft for two 2-bedroom units, each unit is relatively compact (approximately 784 sqft), which might not appeal to all prospective tenants.