Monrovia, CA 91016,537 Cloverleaf Dr
Monrovia, CA 91016,537 Cloverleaf Dr
Monrovia, CA 91016,537 Cloverleaf Dr
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$3,980,000
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19.85 Acres Lot
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537 Cloverleaf Dr Monrovia, CA 91016

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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25241292

HOA Y/N No

Lot Size 19.852 Acres

Property 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. It's 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 Monrovia's hillside neighborhoods and just minutes from Old Town Monrovia, schools, and major transportation corridors, this property blends immediate income stability with long-term development potential—a rare combination in one of the San Gabriel Valley's most desirable submarkets. All provided information should be confirmed by any interested parties.

Location

State CA

County Los Angeles

Area 639 - Monrovia

Zoning MORF

Interior

Fireplace No

Exterior

Community Features Biking, Hiking

View Y/N Yes

View Mountain(s)

Building

Lot Description 16-20 Units/Acre

Sewer Unknown

Water Public

New Construction No

Others

Senior Community No

Tax ID 8503001029

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard


CRMLS – RECore
Listed by Matthew Modica Long Dragon Realty Group, Inc. 774-218-8941

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Analicia Diaz

Analicia Diaz

Agent | License ID: 02187306

+1(619) 227-5757

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537 Cloverleaf Dr