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Listed by Jeannette Zhang • VasTree Real Estate
$2,580,000
Est. payment /mo
Active
220 South Myrtle Avenue Monrovia, CA 91016
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR-25002884
Year Built 1928
Property Sub-Type Retail
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. Building signage available on both sides of the building. Suite 218 is leased to a franchise pet shop at $3.80/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 and Chase Bank. The City hosts a variety of events all year round including the weekly street fair every Friday that attracts many residents and even visitors from other cities.
Location
State CA
County Los Angeles
Interior
Heating Central
Cooling Central Air
Laundry None
Exterior
Utilities Available Sewer Connected, Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected
Building
Lot Description Walkstreet, Level with Street, Near Public Transit, Park Nearby, 2-5 Units/Acre