537 Cloverleaf Dr, Monrovia, CA 91016
  • MLS#: AR25241292 ( )
  • Street Address: 537 Cloverleaf Dr
  • Viewed: 3
  • Price: $3,980,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: Not Available
  • Bldg sqft: 0
  • Days On Market: 71
  • Acreage: 19.85 acres
  • Additional Information
  • County: LOS ANGELES
  • City: Monrovia
  • Zipcode: 91016
  • Provided by: Long Dragon Realty Group, Inc.
  • Contact: Matthew Matthew
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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. Its ideal for investors who wish to 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 Monrovias hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long term development potentiala rare combination in one of the San Gabriel Valleys most desirable submarkets. All provided information should be confirmed by any interested parties.
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Features
Additional Parcels Description
  1. 8503002008
Association Fee
  1. 0.00
Commoninterest
  1. None
Country
  1. US
Distancetowatercomments
  1. Yes
Lot Features
  1. 16-20 Units/Acre
Parcel Number
  1. 8503001029
Sewer
  1. Unknown
View
  1. Mountain(s)
Water Source
  1. Public
Zoning
  1. MORF