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$4,800,000
Est. payment /mo
17,691 SqFt
UPDATED:
11/04/2024 11:24 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 17,691 sqft
Price per Sqft $271
MLS Listing ID CRSR24225737
HOA Y/N No
Year Built 1955
Lot Size 6,700 Sqft
Acres 0.15
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
Location
State CA
County Los Angeles
Area Listing
Interior
Heating Other
Cooling Central Air, Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 8516023085
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Listed by Denise Mitchell • Realty Executives SCV
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