About this home

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 28% 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.

Facts and features

Schools

• Clifton Middle School

  middle · 7-8 · 0.3 mi

  7

• Mayflower Elementary School

  elementary · 0.5 mi

  10

• Monrovia High School

  high · 9-12 · 1.0 mi

  7

• Carden of the Foothills School

  elementary · K-8 · 0.4 mi

• Oasis Trilingual Community School

  elementary · PK-6 · 0.5 mi

• Wild Rose Elementary School

  elementary · 0.5 mi

  7

Price history

• Oct 15, 2026 · Price Changed$5,595,000
• Mar 2, 2026 · Price Changed$5,695,000
• Dec 5, 2025 · Listed$5,975,000
• Apr 23, 2014 · Listing Removed$1,250
• Mar 28, 2014 · Price Changed For Rent$1,250
• Mar 5, 2014 · Listed For Rent$1,275
• Nov 21, 2009 · Listing Removed$2,745,000
• Nov 17, 2009 · Sold$2,365,000

Tax history

• 2025$19,857 tax · $1,316,626 assessed
• 2024$19,344 tax · $1,290,811 assessed
• 2023$18,935 tax · $1,240,689 assessed
• 2022$18,423 tax · $1,216,362 assessed
• 2021$18,050 tax · $1,192,513 assessed
• 2020$17,551 tax · $1,180,286 assessed
• 2019$17,274 tax · $1,157,144 assessed
• 2018$16,893 tax · $1,134,455 assessed

Where it is