740 W Colorado
About This Property
The updated kitchen offers quartz countertops, freshly painted cabinets, newer appliances, and plenty of space to cook and gather. Both generously sized bedrooms provide ample closet space, sheer-panel drapery, and striking light fixtures. The refreshed bathroom features new penny-tile flooring and a shower/tub combination with a beautiful mosaic-tile inlay. Off the kitchen is a dedicated laundry room with built-in shelving, a utility sink, and cabinetry.
Outside, the backyard is a true retreat with new landscaping and a screened patio complete with a built-in BBQ and fireplace, ideal for year-round entertaining. Just beyond the patio, a vegetable garden adds a charming touch. In this backyard you will also enjoy mature fruit trees including mango, apple, lemon, fig, and peach. The property's large lot and layout may also present an appealing opportunity for an ADU conversion, subject to buyer investigation and applicable approvals.
A detached two-car garage includes a versatile bonus room, perfect for a gym, art studio, or home office. Significant upgrades include a new electrical system throughout (2016), roof (2017), HVAC (2018), windows (2019), sewer line (2021), appliances (2022), fresh interior and exterior paint (2026), and a new landscaping and irrigation system (2026). With upgrades like these, this property is ready for years of enjoyment.
Ideally located with easy access to the 210 Freeway and just minutes from the restaurants, cafes, shops, parks, and year-round community events of Old Town Monrovia, this is an opportunity you won't want to miss.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 4, 2026 | Price Decreased |
$850,000
↓ $50K
(5.6%) | |
| Price Decreased | |||
| Oct 17, 2026 | Price Decreased |
$900,000
↓ $50K
(5.3%) | |
| Price Decreased | |||
| Aug 26, 2026 | Listed by Coldwell Banker Residential | $950,000 | |
| Listed by Coldwell Banker Residential | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017