Listed by 661-313-6860 - Denise Mitchell - DRE #01365488 - Realty Executives SCV 661-250-8600
$4,800,000 affordable loan icon Calculate Payment

501 Myrtle Avenue Monrovia, CA 91016

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Mixed Use Residence
Beds
Baths
17,691 Sq. Ft.
0.15 Acre Lot

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Last updated on 12/24/2024 10:14 PM
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! Continue reading
MLS#
SR24225737
Property Type
Mixed Use
Status
Year Built
1955
Square Feet
17,691 sq. ft
Lot Size
0.15

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Listed by 661-313-6860 - Denise Mitchell - DRE #01365488 - Realty Executives SCV 661-250-8600
Barbara Lynn Simmons, CALBRE 637579, Xome Inc., CALBRE 1932600, [email protected], 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361

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This content last refreshed on 12/24/2024 10:14 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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