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  • 137 N Myrtle Avenue

137 N Myrtle Avenue, Monrovia, CA 91016

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

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Photo of Iris Hirsch

Iris Hirsch REALTOR® - Sales Associate 858-945-8198 m
858-259-6400 o
Lic#: 01324008
NRDS ID: 474004056
iris@irishirsch.com Text Me
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Lic#: 01324008
NRDS ID: 474004056
iris@irishirsch.com Del Mar Office
3790 Via De La Valle, Ste, 201
Del Mar, CA 92014
Phone: 858-259-6400
Fax: 858-481-1483
 Del Mar 3790 Via De La Valle, Ste, 201
Del Mar, CA 92014
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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): 227

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This listing belongs to the 639 - Monrovia MLS area

Lat/Long: 34.152776, -118.001376.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Iris Hirsch

Iris Hirsch REALTOR® - Sales Associate 858-945-8198 m
858-259-6400 o
Lic#: 01324008
NRDS ID: 474004056
iris@irishirsch.com Text Me
Call My Cell
Call My Office
Lic#: 01324008
NRDS ID: 474004056
iris@irishirsch.com
Del Mar Office
3790 Via De La Valle, Ste, 201
Del Mar, CA 92014
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