Keller Williams DTLA is pleased to offer the opportunity to purchase a multifamily development opportunity located at 1703 S. Magnolia Ave., Monrovia. Located within minutes of the Monrovia Gold Line Station Transit Village, the property is zoned RH (Residential High) per the City of Monrovia. The property is across the street from the newly opened Moda at Monrovia Station development, where rents for 2/2 units at about 1,060 sq. ft. feet are starting around $2,900. The existing property consists of a 2,952 sq. ft. warehouse/office space currently leased by a commercial tenant on a month to month basis. Sitting on a 16,958 sq. ft. lot (per county records), RH zoning provides for a .75 FAR and offers generous development guidelines which may provide for up to 15 units on the property. Close to the shops and restaurants of Old Town Monrovia, this desirable location boasts an excellent walk score, thus creating a strong rental demand in the area. Buyer to verify all development possibilities and zoning with the City of Monrovia.