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501 S Myrtle Avenue

Monrovia, CA 91016

$4,800,000

List Price

N/A

bed Beds

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shower Baths

N/A sqft

straighten / sqft

1955

calendar_month Built

Property Description

Rare opportunity to own this property that includes includes 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue. This Old Town Monrovia area that is so charming and people love to come to this street for the weekly farmers market, quaint restaurants and more. Two-story mix-used building with retail and offices situated on the first floor, second story executive offices and a usable basement level that is currently rented as executive offices and storage areas. Two retail spaces on the first floor. Many of the office suites are leased MTM with below market rents. Great opportunity for an investor to realize an upside in current market rents. Also an opportunity for an office owner/user to occupy first or second floor office space. The building has 17,691 total SF with 6,174 SF on the first floor, 5,548 SF on the second floor and 5,969 SF in the basement level. The building has fire sprinklers, 6 common area restrooms, 3 private restrooms, 2 kitchens and 2 janitor closets. Zoned HCD- Historic Commercial Downtown. Located in the heart of Old Town Monrovia. Situated on the busy signalized intersection of Myrtle and Lemon. High-density residential surrounds the property. 210 and 605 freeways are located in close vicinity. It is a heavily pedestrian-oriented shopping destination that consists if retail, restaurants, office an mixed-use properties. High-density residential uses surround the property including most closely The Colorado Commons with seventy two units total an parking structure with over 180 spaces also available for public parking use. The Santa Anita Race Track and Westfield Mall are located 3 miles from this property. The Monrovia Gold-line station is located about 1 mile south of this property. Both 210 and 605 freeways are located in close vicinity with access via Myrtle Avenue. Currently, there are 39 tenants occupied. Property was recently upgraded with newer flooring, store front and more!

Listing Information

List Price $4,800,000
Status Active
MLS SR24225737
Type Commercial
Subtype Mixed Use
Year Built 1955
Lot Size 6,700
Structure Size N/A
Courtesy Of Realty Executives SCV
Listing Agent Denise Mitchell DRE#01365488

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air, Wall/Window Unit(s)

Exterior Information

Maps

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king_bed N/A
shower N/A
straighten N/A
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shower N/A
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$7,183/month

king_bed N/A
shower N/A
straighten N/A
straighten 7,307
220 S Myrtle Avenue,

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Listing information courtesy of: Denise Mitchell, Realty Executives SCV 661-313-6860. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 4th, 2024 at 9:38 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.