1703 S Magnolia Avenue
MONROVIACA 91016
$1,900,000.00  
Area: 639 - Monrovia
Type: Warehouse/Storage
Possible Uses: Warehouse, office, multi-family development
Lot Size: 16,958 sqft
Sq.Feet: 2952
Year Built: 1954
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MLS # 820000233   Posted 3/31/2020 12:00:00 AM
Property Description

Multi-family development opportunity located minutes away from the Monrovia Gold Line Station Transit Village. The property is zoned RH (Residential High) per the City of Monrovia. and is across the street from the newly opened Moda at Monrovia Station development, where rents for 2/2 units at about 1,060 sq. ft. feet are starting around $2,900. The existing property consists of a 2,952 sq. ft. warehouse/office space currently leased by a commercial tenant on a month to month basis. Sitting on a 16,958 sq. ft. lot (per county records), RH zoning provides for a .75 FAR and offers generous development guidelines which may provide for up to 12 units on the property. Close to the shops and restaurants of Old Town Monrovia, this desirable location boasts a an excellent walk score, thus creating a strong rental demand in the area. Buyer to verify all development possibilities and zoning with the City of Monrovia.

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