729 W Foothill Boulevard

Monrovia, CA 91016

  • 0 Bed(s)
  • 0 Bath(s)
  • 20,160 Sqft
  • 44854
    Sqft(Lot)
$8,100,000

Description

We are proud to present ridgewood apartments, a prime multifamily investment opportunity located at 729 w foothill boulevard in monrovia, california. situated between n sunset place and el nido avenue, this property benefits from the city’s strong job market, excellent schools, and close proximity to the 210 freeway and major attractions. monrovia’s growing population and increasing demand for housing make this an ideal investment choice, offering potential for steady rental income and property value appreciation.

the ridgewood apartments are a 2-story, 32-unit property originally built in 1958. the property has a total building size of ±20,160 square feet and sits on a large ±1.2 acre lot. the property features an excellent unit mix of one-bed/one-bathroom and two-bedroom/one-bathroom units averaging 633 sf per unit.

superbly maintained, the property features a communal on-site laundry facility, mature lush landscaping with a courtyard with outdoor seating, carport and surface parking. most units have been upgraded and feature vinyl plank flooring and carpet throughout, kitchens with stainless steel appliances, ceiling fans, vertical blinds, and wall air conditioning and heating.

the city of monrovia is ideally located within southern california offering easy access to the 210, 605, 134, 10 and 5 freeways connecting to all of los angeles county, ventura county, san bernardino and beyond. its location offers convenient access to neighboring cities within the san gabriel valley. significant local landmarks within a 20-mile radius include: santa anita park, los angeles county arboretum, the huntington library, city of hope hospital, the rose bowl, dodger stadium, crypto.com arena, griffith observatory, los angeles zoo, hollywood walk of fame, hollywood bowl, universal studios and more.

the ridgewood apartments at 729 w foothill boulevard is a prime monrovia income-producing property that offers a compelling long-term investment opportunity. its current 2.95% interest-only debt provides an attractive financing structure, while the significant potential for rental upside— an estimated 16% growth to achieve market rents—underscores its value. located in a highly desirable neighborhood, this property presents a stable investment opportunity for a diverse range of investors, including first-time buyers, seasoned professionals, and those seeking 1031 exchange benefits.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47163839

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

    Heating Source

    • Wall Furnace
    • Has Heating

  • Building Information

    • Year Built: 1958
    • Building Area Total: 20,160

    Pool Features

    • None

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 1.0297
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 44854

  • Listing Price Information

    • Original List Price: 8,100,000
    • Listing Contract Date: 2024-10-11

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 8504019038

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 639 - Monrovia
    • Directions: Merge onto I-10 W, se the right 3 lanes to take exit 42 to merge onto CA-57 N toward Interstate 210 Fwy, Use the right lane to take exit 32 for Santa Anita Ave, Turn right onto N Santa Anita Ave, Turn right onto E Foothill Blvd
    • Zoning: MORH*
    • Source Property Type: Residential Income
    • Area: 639 - Monrovia
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 66
    • Common Walls: 2+ Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/16/2024 @ 23:53

  • MLS: CV24211512
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 20,160 sqft, 44,854 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Monrovia , in zip code 91016, this Los Angeles County Home are nearby neighborhoods.