501 S. Myrtle Ave. 501 S Myrtle Ave 17,691 SF 99% Leased Office Building Monrovia, CA 91016 $5,399,667 CAD ($305.22 CAD/SF)

Value-Add Mixed-Use Investment Opportunity in the Heart of Old Town Monrovia
501 S. Myrtle Avenue presents investors with a rare opportunity to acquire a character-rich office and retail asset in one of Monrovia’s most walkable and recognizable commercial districts. Located at the prominent corner of Myrtle Avenue and Lemon Avenue, the property offers strong street visibility, historic charm, and a flexible multi-tenant layout designed for diversified income.
The building features a ground-floor retail component along with multiple smaller office suites across three floors, creating an ideal platform for investors seeking stable, diversified tenancy with meaningful upside. Rather than relying on one large occupant, the property is positioned to serve a wide range of local professional and service-based tenants, including consultants, therapists, attorneys, accountants, creatives, wellness providers, and small businesses that want a professional workplace outside the home.
As Monrovia continues to grow and densify, demand for smaller, flexible office environments is expected to remain relevant. Many professionals who work remotely still need a dedicated space for meetings, focused work, client interaction, and separation from home life. 501 S. Myrtle is well positioned to capture that demand with its smaller-suite configuration, downtown location, walkable amenities, and approachable professional setting.
For an investor, the value-add story is clear: lease-up opportunity, rent optimization, improved tenant mix, and the ability to enhance income over time as the surrounding market continues to mature. The property’s flexible floor plan allows ownership to target a broad tenant base while reducing exposure to any single user. With the right leasing and management strategy, the building has the potential to become a highly desirable small-office destination in Old Town Monrovia.
The location is one of the property’s strongest attributes. Old Town Monrovia offers restaurants, coffee shops, retail, services, public parking, community events, and a pedestrian-friendly environment that tenants and their clients appreciate. The property also benefits from proximity to the Metro A Line, the 210 Freeway, and surrounding San Gabriel Valley communities, providing both local convenience and regional accessibility.
501 S. Myrtle Avenue is not simply an office building—it is an income-producing mixed-use asset with character, visibility, and upside. For investors looking for a Southern California property with a compelling basis, diversified small-tenant income potential, and long-term value creation in a growing downtown market, this offering deserves serious consideration.
Investment Highlights
Prominent Old Town Monrovia location at Myrtle Avenue and Lemon Avenue
Mixed-use office and retail asset with multiple income streams
Smaller office suites ideal for professional, service, wellness, and creative tenants
Value-add opportunity through lease-up, rent growth, and tenant repositioning
Flexible multi-tenant layout that reduces dependence on a single occupant
Walkable downtown setting surrounded by restaurants, retail, services, and amenities
Well positioned to benefit from Monrovia’s continued density and demand for flexible workspaces
Strong appeal to private investors, 1031 exchange buyers, and value-add commercial property owners