$10,000 Closing Credit¹
#AR25013871, Janet Chan, Listing Office: Advanta Properties, Inc
#CV24211512·
Listing Office: CB RICHARD ELLIS·
Listing Agent: ERIC CHEN·
Listing Office Phone: 626-757-5717
729 W Foothill Blvd Monrovia, CA 91016
$8,100,000 List price
1.0 acres
Condo
Property details
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.
Highlights
Home typeCondominium
HeatingWall Furnace
StatusActive
CoolingWall/Window Unit(s)
Lot size1.0297 Acres
Year built1958
MLS #CV24211512
Summary
- MLS Number: CV24211512
- MLS Name: CRMLS
- Office Name: CB RICHARD ELLIS
- Office Phone: (626) 757-5717
- Listing Agent: ERIC CHEN
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: 2/2/2025, 7:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$8,100,000
729 W Foothill Blvd
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Aug 09, 2000 | Home Sold | $1,575,000 |
| Sep 25, 1996 | Home Sold | $40,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $2,333,138 | $40,855 |
| 2023 | $2,287,517 | $40,057 |
| 2022 | $2,236,390 | $38,973 |
| 2021 | $2,192,540 | $38,177 |
| 2020 | $2,170,059 | $36,685 |
| 2019 | $2,127,510 | $35,562 |
| 2018 | $2,085,795 | $34,913 |
| 2017 | $2,044,898 | $34,913 |
History based on county public records data.
Nearby schools
6
Mayflower Elementary School
Public District KG-5
0.3 mi
•210 N Mayflower Ave
4
Monroe Elementary School
Public District KG-5
0.6 mi
•402 W Colorado Blvd
8
Highland Oaks Elementary School
Public District KG-5
1.1 mi
•10 Virginia Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $102,750. The majority of Monrovia, CA residents have income between $35k-100k annually. The majority of families are single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
7%
<35k
42%
35k-100k
36%
100k-200k
15%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
41%
Single, No Kids
10%
Single, with Kids
26%
Married, No Kids
23%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
15%
<11 yrs old
8%
12-17 yrs old
20%
18-34 yrs old
43%
35-64 yrs old
14%
65+ yrs old
What do the neighbors do for fun?
Live Theatre
Hiking/backpacking
Major League Soccer (MLS)
Where do the neighbors shop?
Bloomingdales
Banana Republic
Nordstrom Rack
Where do the neighbors go to eat?
Boston Market
Starbucks
Jack In The Box
What do the neighbors drive?
Mercedes
Audi
Toyota
What do the neighbors listen to?
News
Alternative
Jazz
All data provided by Home Junction and Claritas
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Frequently asked questions
About 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. Features: 0 bathroom. It has been listed on Rocket Homes since October 11, 2024 and is currently priced at $8,100,000.
In January 2025 more than 5 listings in Monrovia, CA were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 6 were sold below. The inventory of homes for sale in Monrovia, CA between December and January 2025 decreased by 5.8%. While the average time on the market in January 2025 was 38 days, the median list price was $950,000.
From Rocket Homes Real Estate and based on county public records data.