ABOUT THE ASSET

PROPERTY DESCRIPTION

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The Monterey Apartments are located at 911 Monterey Avenue in Monrovia. This meticulously maintained, 28-unit building consists of (9) 1 Bed/1 Bath units, (18) 2 Bed/1 Bath units and (1) 4 Bed/1.5 Bath Townhouse unit. This quiet, low density property sits on 36,746 sq. ft. of land and has 24,518 sq.ft. of rentable sq.
ft. This gated community has 33 carport parking spaces, 2 shared laundry rooms and a community pool. Each unit is individually metered for gas & electricity. Located on the Arcadia/Monrovia border, tenants can walk to either city and enjoy the many amenities. With a Walk Score or 82 (Very Walkable) Monterey
Apartments are ideally situated to attract a wide demographic of tenants. Old Town Monrovia, the city\'s central hub and home to a variety of shops and dining, the subject property is located on a quiet, low-density street in Monrovia. The Metro Gold line has a stop in both Monrovia and Arcadia and each is located about 1 mile away connecting travelers from Downtown Los Angeles to Azusa. Downtown Arcadia\'s shops, dining and nightlight are about a 20 minute walk to the West while Old Town Monrovia a 20 minute walk to the East. The growing city's appeal has also spurred several new development projects in the area that
are currently under construction.

SUMMARY

PRICE

PRICE/UNIT

PRICE/SF

GRM

CAP

UNITS

YEAR BUILT

GROSS SF

LOT SF

APN

$8,700,000

$310,714

$354.84

17.19

3.05%

28

1963

24,518

36,746

8506-033-002