2 months on rocket

729 W Foothill Blvd, Monrovia, CA, 91016

$8,100,000

0 Baths
Condo

Location

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Property Highlights

Home TypeCondominium
Year Built1958
HeatingWall Furnace
CoolingWall/Window Unit(s)
MLS #CV24211512
Lot Size1.03 Acres
StatusActive

About 729 W Foothill Blvd

We are proud to present Ridgewood Apartments, a prime multifamily investment opportunity located at 729 W Foothill Boulevard in Monrovia, California. Situated between N Sunset Place and El Nido Avenue, this property benefits from the city’s strong job market, excellent schools, and close proximity to the 210 Freeway and major attractions. Monrovia’s growing population and increasing demand for housing make this an ideal investment choice, offering potential for steady rental income and property value appreciation. The Ridgewood Apartments are a 2-story, 32-unit property originally built in 1958. The property has a total building size of ±20,160 square feet and sits on a large ±1.2 acre lot. The property features an excellent unit mix of one-bed/one-bathroom and two-bedroom/one-bathroom units averaging 633 SF per unit. Superbly maintained, the property features a communal on-site laundry facility, mature lush landscaping with a courtyard with outdoor seating, carport and surface parking. Most units have been upgraded and feature vinyl plank flooring and carpet throughout, kitchens with stainless steel appliances, ceiling fans, vertical blinds, and wall air conditioning and heating. 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. The Ridgewood Apartments at 729 W Foothill Boulevard is a prime Monrovia income-producing property that offers a compelling long-term investment opportunity. Its current 2.95% interest-only debt provides an attractive financing structure, while the significant potential for rental upside— an estimated 16% growth to achieve market rents—underscores its value. Located in a highly desirable neighborhood, this property presents a stable investment opportunity for a diverse range of investors, including first-time buyers, seasoned professionals, and those seeking 1031 exchange benefits.

Property Details

Property Features

Property Information:

  • Year Built: 1958
  • Stories: 2

Listing Office:

  • Office Name: CB RICHARD ELLIS
  • Office Phone: (626) 757-5717
  • Listing Agent: ERIC CHEN

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 1.03 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: Wall/Window Unit(s)

Other

Directions Information:

  • Directions: Merge onto I-10 W, se 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

Price Information

Listing Price Info

Price Summary:

  • List Price: $8,100,000

Tax Information:

  • Annual Amount: $38,178
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Monrovia, CA.

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Monrovia, CA

City

Med. Sold Price

$926.5K

Med. Price/SqFt

$649

Avg. Days On Market

24

# of Sold Homes

19

729 W Foothill Blvd vs Monrovia

67 DAYS ON ROCKET

+43 Days

$8,100,000

+$7.1M More

KEY TAKEAWAY

This property is $7.1M more than the Median Sold Price in Monrovia, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #CV24211512

Listing Office:

  • Office Name: CB RICHARD ELLIS
  • Office Phone: (626) 757-5717
  • Listing Agent: ERIC CHEN

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/18/2024, 9:20:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Aug 09, 2000Home Sold
$1,575,000
Sep 25, 1996Home Sold
$40,000

Tax History

YEARPROP. TAXASSESSMENT
2021$38,178$2,192,540
2020$36,685$2,170,059
2019$35,562$2,127,510
2018$34,914$2,085,795
2017$34,914$2,044,898

History based on county public records data.

Payment Calculator

$40.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$24.3K

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4471020
6
/10

  • Mayflower Elementary School

  • 210 N Mayflower Ave

  • 0.33 miles

  • Public District Grades KG-5

school-card-donut-4471021
4
/10

  • Monroe Elementary School

  • 402 W Colorado Blvd

  • 0.58 miles

  • Public District Grades KG-5

school-card-donut-4471022
8
/10

  • Highland Oaks Elementary School

  • 10 Virginia Rd

  • 1.09 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $102,750. Typical income of Monrovia, CA residents is between $35k-100k annually. The majority of families are single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 729 W Foothill Blvd

What is the listing price of this property?

The listing price of 729 W Foothill Blvd property is $8,100,000.

What type of property is this?

The property 729 W Foothill Blvd is a condo located in Monrovia, California, 91016.

Is this property for sale now?

Active Listing: 729 W Foothill Blvd is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $38,178 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on August 9, 2000 for $1,575,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 729 W Foothill Blvd is 1958.
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Rocket Homes›California›Los Angeles County›Monrovia›91016›729 W Foothill Blvd

This home is located at 729 W Foothill Blvd in Monrovia, CA and zip code 91016 in the The San Gabriel Valley neighborhood. This home, which was built in 1958, sits on a 1.03 acre lot. It has been listed on Rocket Homes since October 11, 2024 and is currently priced at $8,100,000.

While more than 11 listings in Monrovia, CA in November 2024 were sold above asking price, there were more than 1 listings sold at asking price, and more than 7 were sold below. Between October 2024 and November 2024, Monrovia, CA real estate market has seen decrease in the number of listings by 18.3%. The median list price of listings available in November 2024 was $926,500, while the average time on the real estate market was 24 days.

From Rocket Homes Real Estate and based on county public records data.

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