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729 W Foothill Boulevard

Monrovia, CA 91016
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Bed 0

Bed

Bath 0

Bath

SqFt20,160

Sqft

SqFt44,854

Sqft(Lot)

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. Monrovia’s growing population and the property’s 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 fac ility, 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 convenient access to neighboring cities within the San Gabriel Valley. Significant local landmarks within a 20- mile radius include: Santa Anita Park, Los Angeles County Arboretum, The Huntington Library, City of Hope Hospital, The Rose Bowl, Dodger Stadium, Crypto.com Arena, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios and more. Ridgewood Apartments in the city of Monrovia is a premier income-producing asset with a compelling 16% rental upside, presenting a stable and lucrative opportunity for 1031 exchange buyers and seasoned investors alike.

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Detail Ic Property Details

Property Type : Residential Income

Price : $7,600,000

AD Id : 75197002

MLS Id : CV26030999

Lot Size : 44,854 Sqft

Living Area Size : 20,160

Year Built : 1958

County : Los Angeles

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Feature Features

  • Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Cooling Features

    Wall/Window Unit(s) Air Conditioning

    Heating Source

    Wall Furnace Has Heating

  • Building Information

    Year Built: 1958 Building Area Total: 20,160
  • Pool Features

    None

    Laundry Features

    Common Area

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 1.0297
  • Lot Size Source: Assessor Lot Size Square Feet: 44854

  • Listing Price Information

    Original List Price: 7,600,000 Listing Contract Date: 2026-02-09
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 8504019038

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: 639 - Monrovia Directions: Merge onto I-10 W, use the right 3 lanes to take exit 42 to merge onto CA-57 N toward Interstate 210 Fwy, Use the right lane to take exit 32 for Santa Anita Ave, Turn right onto N Santa Anita Ave, Turn right onto E Foothill Blvd Zoning: MORH* Source Property Type: Residential Income Area: 639 - Monrovia Property SubType: Apartment
  • Building and Construction

    Property Age: 68 Common Walls: 2+ Common Walls Structure Type: Apartment Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Property Attached: Yes Levels or Stories: Two Building Total Stories: 2
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
771 Norumbega Drive, Monrovia, CA, 91016 $1,698,000 3 2 2,489 2,489 SqFt
779 Norumbega, Monrovia, CA, 91016 $1,425,000 2 2 1,738 1,738 SqFt
785 Norumbega Drive, Monrovia, CA, 91016 $1,450,000 4 2 2,676 2,676 SqFt
108 S Mountain #A, Monrovia, CA, 91016 $920,000 4 1 1,658 1,658 SqFt
348 N Mountain, Monrovia, CA, 91016 $1,378,000 4 2 1,660 1,660 SqFt
888 Oakglade, Monrovia, CA, 91016 $2,180,000 3 3 2,582 2,582 SqFt
1035 #47 E Huntington Dr., Monrovia, CA, 91016 $182,000 2 2 1,140 1,140 SqFt
845 Oakdale, Monrovia, CA, 91016 $1,149,000 3 2 1,278 1,278 SqFt
846 Oakdale Avenue, Monrovia, CA, 91016 $995,000 3 1 1,030 1,030 SqFt
264 Norumbega, Monrovia, CA, 91016 $1,679,000 3 2 2,681 2,681 SqFt

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ByOwner last updated this listing 06/08/2026 @ 13:12

MLS: CV26030999 LISTED BY: Eric Chen, CB RICHARD ELLIS 909-418-2000 SOURCE: CRMLS

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