534 S Myrtle Ave, Monrovia, CA 91016

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Building Details:

• Year Built: 1958

The City of Monrovia is approximately 13.7 square miles and has nearly 40,000 active resi-dents who enjoy a premier quality of life in a community that celebrates its historic past and is forging a bright future. The average household income exceeds $94,000, the average home price is well over $670,000 and nearly 35% of the inhabitants have a higher education degree.
Monrovia is strategically located and is only 10 miles from Pasadena, 20 miles from Down-town Los Angeles and yet has a lower cost of doing business. Trader Joe’s, Original Tommy’s, Green Dot and Naked Juice are based in Monrovia. What’s more interesting is that technolo-gy and biotech firms are also congregating in an area called Technology Corridor and is a trend that has been picking up momentum in the past five to ten years.
Old Town Monrovia, where the Subject Property is located, is a world-class downtown pedes-trian friendly district that has an eclectic mix of restaurant, boutique shops and creative work-live options. It is the central gathering place for residents and visitors with a weekly Friday Night Family Street Fair as well as large celebrations such as the Christmas Holiday Parade and 4th of July Celebrations.
In addition there is a new transit oriented development taking place near Monrovia’s Gold Line Station. The Monrovia Station has nearly 1.5 million riders per month and as a result the city has encouraged the development of over 1,000 residential units within a 2-block radius of the station. The City has also contributed over $25 million in public improvements centered on these developments.