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$ 3,980,000
Est. payment /mo
Active
537 Cloverleaf Dr Monrovia, CA 91016
2 Beds
19.85 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25241101
Bedrooms 2
Lot Size 19.853 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
This prime Monrovia foothill offering presents a rare opportunity to acquire both a quality income-producing property and a high-potential development site in one. Currently generating steady rental income with a ~3% CAP rate, the property offers substantial room for improvement and future upside. Its ideal for investors who wish to maintain income while advancing subdivision or redevelopment plans, minimizing carrying costs during the entitlement process. The portfolio comprises two contiguous parcels: 537 Cloverleaf Dr. (APN: 8503-001-029) approximately 4.88 acres with a 2,683 SF dwelling AND 539 Cloverleaf Dr. (APN: 8503-002-008) approximately 14.97 acres with a 2,390 SF dwelling Together, the combined 19.85-acre property provides utilities on site. According to recent surveyor analysis, there is potential for 6 to 8 luxury single-family home lots. The optimal layout would likely include six primary lots, while two additional lots could be achieved with more complex hillside grading and retaining solutions. Set amid the natural beauty of Monrovias hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potentiala rare combination in one of the San Gabriel Valleys most desirable submarkets. All provided information should be confirmed by any interested parties.
Location
State CA
County Los Angeles
Zoning Other
Direction Monrovia, CA
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 8503001029
Listed by Matthew Modica Long Dragon Realty Group, Inc.
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