147 N Canyon Boulevard, Monrovia, California 90016, Monrovia, 90016 - 4 bed, 3 bath
ACTIVE$1,150,000
147 N Canyon Boulevard, Monrovia, California 90016
4Beds
3Baths
1,492Sqft
9,040Lot
Year Built
1906
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$771
HOA
-
Days on market
-
Sold On
-
MLS number
IG25026371
Home ConditionPoor
Features
View-
About this home
We found 2 Cons,3 Pros. Rank: price - $1.15M(50th), sqft - 1492(43th), beds - 4(71th), baths - 3(86th).
Great opportunity for rebuild due to its larger than most lot size the No.Foothill area. There's plenty of room to build and match the $1.7 - $2.5 Million dollar homes not the same street. Property is currently used as 3 units with 3 separate meters. Tenants are long term tenants and it rents for almost $6000/month. Please be discreet so as not to disturb tenants and pease do not talk to them in any way shape or form. Owner is willing to do a straight cash out sale and not do a 1031 for a quick sale. Tenants may stay or move with proper vacate notices. Seller is a long term owner and is quitting the Landlording business!!!!
Condition Rating
Poor
The property was built in 1906 and is being used as a triplex. The listing suggests it's a good opportunity for a rebuild. The images show outdated kitchens and bathrooms, and the overall condition appears to require substantial repairs and rehabilitation. Given the age and the need for significant updates, it's rated as poor.
Pros & Cons
Pros
Development Opportunity: Large lot size in the No. Foothill area presents a significant opportunity for rebuild or expansion to match the higher-value homes in the vicinity.
Income Potential: Currently used as a triplex with three separate meters, generating a substantial monthly rental income of almost $6000.
Seller Motivation: Seller is motivated for a quick, straight cash-out sale and is not pursuing a 1031 exchange, potentially leading to favorable negotiation terms.
Cons
Property Condition: The property, built in 1906, likely requires significant renovation or rebuilding, adding to the overall investment.
Tenant Management: Managing existing long-term tenants, including potential relocation with proper notices, could present challenges.