220 218-220 S Myrtle AVE Active Save Request In-Person Tour Request Virtual Tour
Monrovia,CA 91016
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR24184844
HOA Y/N No
Year Built 1928
Lot Size 7,305 Sqft
Property Description
Subject property is a freestanding building featuring two separate units totaling 4,180 square foot situated in Monrovia on high-traffic retail street and surrounded by national tenants. Building has two separate units for various uses such as the current retail and high-end office with highly coveted Myrtle Avenue street frontage. Both units have front & back entrance and all utilities are separately metered.
Suite 218 is leased to a franchise pet shop at $3.62/Sq.Ft. per Month. Ideal hedge against inflation with Annual 5% Rent Increases.
Suite 220 features high ceilings, professional receptionist counter and entry area, meeting room, large conference room with skylight, huge sales floor, two private executive offices, kitchen, storage room, and bathroom. Private parking in the back and plenty of City parking areas. Building is earthquake retrofitted.
Truly a gem for owner-occupied investment property. Occupy one unit & collect immediate passive income from the other unit. High density area with shortage of developable land in this region. Building is located next to Bank of America, across from Citibank, and a high-traffic shopping plaza anchored by Vons Pavilions. The City hosts a variety of events all year round including the weekly street fair every Friday that attracts many residents and even attendees from other towns.
Location
State CA
County Los Angeles
Area 639 - Monrovia
Interior
Heating Central,Natural Gas
Cooling Central Air
Fireplace No
Laundry None
Exterior
Community Features Park
Utilities Available Cable Available,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected
Building
Lot Description 2-5 Units/Acre,Near Park,Near Public Transit,Street Level,Walkstreet
Story 1
Water Public
Others
Tax ID 8516005018
Security Features Prewired,Security System,Key Card Entry,Security Lights
Acceptable Financing Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Special Listing Condition Standard
Lease Land No