1 of 39

Want to see this property?

729 W Foothill Boulevard

Monrovia, CA 91016

– beds
– baths
– sqft
~1 acre lot
1958 build
– on site

We are proud to present Ridgewood Apartments, a prime multifamily investment opportunity located at 729 W Foothill Boulevard in Monrovia, California. Situated between N Sunset Place and El Nido Avenue, this property benefits from the city’s strong job market, excellent schools, and close proximity to the 210 Freeway and major attractions. Monrovia’s growing population and increasing demand for housing make this an ideal investment choice, offering potential for steady rental income and property value appreciation. The Ridgewood Apartments are a 2-story, 32-unit property originally built in 1958. The property has a total building size of ±20,160 square feet and sits on a large ±1.2 acre lot. The property features an excellent unit mix of one-bed/one-bathroom and two-bedroom/one-bathroom units averaging 633 SF per unit. Superbly maintained, the property features a communal on-site laundry facility, mature lush landscaping with a courtyard with outdoor seating, carport and surface parking. Most units have been upgraded and feature vinyl plank flooring and carpet throughout, kitchens with stainless steel appliances, ceiling fans, vertical blinds, and wall air conditioning and heating. The city of Monrovia is ideally located within Southern California offering easy access to the 210, 605, 134, 10 and 5 freeways connecting to all of Los Angeles County, Ventura County, San Bernardino and beyond. Its location offers convenient access to neighboring cities within the San Gabriel Valley. Significant local landmarks within a 20-mile radius include: Santa Anita Park, Los Angeles County Arboretum, The Huntington Library, City of Hope Hospital, The Rose Bowl, Dodger Stadium, Crypto.com Arena, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios and more. The Ridgewood Apartments at 729 W Foothill Boulevard is a prime Monrovia income-producing property that offers a compelling long-term investment opportunity. Its current 2.95% interest-only debt provides an attractive financing structure, while the significant potential for rental upside— an estimated 16% growth to achieve market rents—underscores its value. Located in a highly desirable neighborhood, this property presents a stable investment opportunity for a diverse range of investors, including first-time buyers, seasoned professionals, and those seeking 1031 exchange benefits.

Listed By CRMLS_CA / ERIC CHEN / CB RICHARD ELLIS / 626-757-5717

Last checked: Checking… • Last updated Oct 12, 2024 •

MLS# CV24211512 —

The Building

Year Built:

1958
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

20160.00
Building Area Units:

Square Feet
Total Number Of Units:

32
# of Buildings:

4
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

32
# of Separate Water Meters:

1
# of Separate Electric Meters:

32

Interior

Levels:

Two
Entry Location:

1
Laundry:

Common Area
Laundry:

1

Location

Directions:

Merge onto I-10 W, se the right 3 lanes to take exit 42 to merge onto CA-57 N toward Interstate 210 Fwy, Use the right lane to take exit 32 for Santa Anita Ave, Turn right onto N Santa Anita Ave, Turn right onto E Foothill Blvd
Latitude:

34.15193800
Longitude:

-118.01444600

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

MORH*
Lot Features:

31-35 Units/Acre
Lot Size Area:

44854.0000
Lot Size Acres:

1.0297
Lot Size SqFt:

44854.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

4303.02
Tax Tract:

7
Tax Lot:

13

The Listing

Special Listing Conditions:

Standard
Parcel Number:

8504019038

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

Yes
Cooling:

Wall/Window Unit(s)

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Curbs, Sidewalks
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None

Parking

Parking Spaces:

36.00
Uncovered Spaces:

7.00
Carport Spaces:

29.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/11/24 Oct 11, 2024	Listed / Active	CRMLS_CA	$8,100,000

Want a closer look?

Go see 729 W Foothill Boulevard

Or Call Toll Free 1-800-241-3327

We guarantee that we’ll never spam you.

* indicates a required field

More homes

Newest listings in Monrovia, CA

Similar sold homes

This multifamily located in Monrovia, CA 91016 is currently for sale for $8,100,000. 729 W Foothill Boulevard is a – square foot multifamily with – beds and – baths that has been on Estately for 70 days. This multifamily is in the attendance area of Clifton Middle School, Monrovia High School, and Mayflower Elementary School.

Listing Courtesy of: CRMLS_CA and CB RICHARD ELLIS. Based on information from California Regional Multiple Listing Service, Inc. as of 07:29 on Dec 20.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.