729 W Foothill Boulevard, Monrovia, CA 91016
Local realty services provided by:CENTURY 21 Affiliated
729 W Foothill Boulevard,Monrovia, CA 91016
$7,600,000
- 3 Beds
- 2 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: eric chen
Office: cb richard ellis
MLS#:CV26030999
Source:San Diego MLS via CRMLS
Price summary
- Price:$7,600,000
About this home
We are proud to present Ridgewood Apartments, a pristinely maintained 32-unit asset located at 729 W Foothill Boulevard in Monrovia, California. Situated North of the 210 Freeway, this pride-of-ownership property benefits from a supply-constrained submarket, excellent schools, and consistent high occupancy levels. Monrovias growing population and the propertys historical stability make this is an ideal investment choice for steady rental income and long-term appreciation. The Ridgewood Apartments is a 32-unit property originally built in 1958, featuring a total building size of 20,160 SF situated on a 44,854 SF lot (1.03 Acres). The property features an excellent unit mix of one and two-bedroom units averaging 633 SF. Meticulously cared for, the asset features a communal laundry facility, mature lush landscaping with a courtyard, and ample carport and surface parking. Most units have been upgraded with vinyl plank flooring, stainless steel appliances, and wall AC/heating. This opportunity features favorable debt to assume at a 2.95% interest-only rate until November 2030. This rare financing allows a new investor to realize a 7.40% Cash-on-Cash return on current income, with the potential to reach a 10.03% return on pro forma income. The property currently operates at a 5.37% Cap Rate, with a clear path to a 6.80% Cap Rate at market rents. 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 conven...
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Home facts
- Listing ID #:CV26030999
- Added:46 day(s) ago
- Updated:March 29, 2026 at 02:09 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:2
Heating and cooling
- Cooling:Wall/Window
Structure and exterior
- Levels:2 Story
Finances and disclosures
- Price:$7,600,000
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