Monrovia, CA 91016 · APN 8517-013-006
UNITS
3
BUILDING SF
5,121
SF / UNIT
1,707
YEAR BUILT
2021
BEDROOMS
12
BATHROOMS
10
USE · CODE 0300
TRIPLEX
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
No market sale detected on this parcel since 2021. The last recorded transfer may have been a refinance, trust move, or family transfer that didn't reset the Prop 13 base.
Built 2021 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Built 2021 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15. This is an inference from public assessor records, not a determination — confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
County records list 3 units at 518 E Olive Ave, classified as triplex across 5,121 square feet of building area, averaging about 1,707 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
The assessor roll gives a build year of 2021, which is after the October 1978 RSO cutoff. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The most recent transfer on the roll was recorded November 2017. Not every recorded transfer is a market sale — refinances, trust transfers, and family conveyances all appear in the same field, and those do not reset the assessed value.
The current assessed value is $2,408,741 ($1,001,288 land, $1,407,453 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
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