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. It’s ideal for investors who wish to… Read More 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 Monrovia’s hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potential—a rare combination in one of the San Gabriel Valley’s most desirable submarkets. All provided information should be confirmed by any interested parties. Read Less
Property listed by Long Dragon Realty Group, Inc., Matthew Modica 310-259-7556
Listing Snapshot
Days Online
175
Last Updated
Property Type
Quadruplex
Lot Size
19.85 Acres
Year Built
1916
MLS Number
AR25241101
Additional Details
Building
Built in 1916, 6 buildings, 2 stories, Entry level: 1, Entry location: Ground Level
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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