310-777-2888

137 N Myrtle Avenue, Monrovia, CA 91016

$5,695,000 Approx. USD 29 beds, 30 baths
14,405 sqft

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Marketed By St. James + Canter

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Marketed By Cristie St. James REALTOR® - Broker Associate 310-291-1029 m
310-777-2888 o
Lic#: 00949711
NRDS ID: 175502141
cristie@stjamescanter.com Beverly Hills Office
131 South Rodeo Drive, Ste. 100
Beverly Hills, CA 90212
Phone: 310-777-7800
Fax: 310-858-1295

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Listing Agent

Roderick 'Rick' Raymundo | Rick.Raymundo@MarcusMillichap.com
Lic#: 01357019
Broker: Courtesy of Marcus & Millichap
Phone: 213-943-1855

Agent Remarks

Spanning four separate buildings, 137 and 147 N Myrtle Avenue, along with 146 and 148 Stedman Place, the property covers three separate parcels totaling a large 32,485 square foot, block-to-block area of land. Because the City of Monrovia does not have its own restrictive local rent control, the property benefits from higher allowable rent increases under California's statewide AB 1482. This may help a new owner to recapture the approximately 26% in rent upside more rapidly, leading to a more dramatic increase in future cash flow. Monrovia is also not subject to the expensive Measure ULA taxes that burden nearby Los Angeles, allowing investors to keep substantially more profits from building ownership. The buildings feature an excellent unit mix with mostly two-bedroom apartments throughout. Most of these units have already been upgraded to include varying combinations of remodeled bathrooms, updated kitchen appliances, new wood flooring, and, in select units, upgraded electrical panels and in-unit washer/dryers. The location grants tenants the convenience and walkability of more urban neighborhoods, as confirmed by its "Walker's Paradise" designation with a Walk Score of 92, along with the calm and comfort of a more suburban town. This is due largely to the property's location near the sought-after Old Town Monrovia business district, which runs along Myrtle Avenue just one block south of the property.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 25625357

List price is $5,695,000 Reduced by $280,000 on 3/2/2026

Price: $5,695,000

Beds: 29

Baths: 30

Built in 1958

14,405 sqft

2 stories

0.75 acres

Lot size: 0.7540

County: Los Angeles

Zoning: MORH*

Parking description: Assigned

MLS area: 639 - Monrovia

Last Updated: 6/11/2026

Days On Market (DOM): 198

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This listing belongs to the 639 - Monrovia MLS area

Lat/Long: 34.152776, -118.001376.
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