115 -117 E Olive Avenue Monrovia, CA $ 600,000
115 -117 E Olive Avenue
$ 600,000
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115 -117 E Olive Avenue

Monrovia, CA, 91016
$ 600,000
Baths0.0 Sq 7,300

Monthly Estimate*

$ 3,988

Listed by Henry Nunez Real Estate
115 -117 E Olive Avenue, Monrovia, CA 91016 - Image 1
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Studio

Commercial Property for sale in Monrovia, CA

for $600,000. This 7,300 square foot building was built in 1908 on a lot size of 0.1887.

The Gem City Grill is a popular bar/lounge and restaurant located in Old Town Monrovia right at Myrtle Ave. The City of Monrovia supports their Old Town business district with many community events including Monrovia's Friday Night Street Fair and Market which bring crowds from the entire San Gabriel Valley and farther. The Gem has an array of TV's featuring all sporting events making it a favorite for all sports fans. Two pool tables and multiple dart boards support local teams, leagues and competitions on a consistent weekly schedule and don't forget Karaoke. Live music on the weekends along with great food from the kitchen makes it a must stop for everyone. The kitchen is a great feature to provide their customers with delicious reasons to visit. This bar/restaurant is unique in all the amenities they offer to attract a diverse customer base in a vibrant Old Town Monrovia environment. The size of the premises easily provides the space to carry on these multiple amenities and events in a very comfortable space. Recently, the entire establishment went through a complete remodel including bathrooms, bar, equipment, flooring, kitchen improvements, POS, interior decor that has truly transformed it to the real "Gem" of Monrovia. The floor plan features a large double sided U shaped bar with an array of bar stools, high tables and chairs on one side and lower tables, chairs, dart boards and stage for the entertainment on the other side. Two entry doors serve Olive Ave, one of which is used for special occasions and a third serves the rear entrance from the free rear parking lot and Myrtle Ave access. There is great frontage on Olive Ave and ingress/egress to free parking and access to Myrtle Ave. Gem City is part of a free standing building with double wide unit spacing so it is very visible. There is an abundance of available parking directly in front of the building and free parking in an adjacent parking lot right outside the rear entrance. In addition, Monrovia Old Town provides an abundance of supporting free parking for the business district. The Old Town Monrovia location provides a consistent flow of potential customers with all the fantastic events the city provides to support the business district along Myrtle Ave. Monrovia business district has upscale rental communities with more in the planning stage to again support the local businesses. This is a great opportunity.

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Commercial Active

Price

$ 600,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

Lot Size

0.1887

Year Built

1908

Town/City

Monrovia

County/Region

Los Angeles

MLS | Web ID

AR24098494

Days on Market

30

Features
General
Zoning PD5
Year Built 1908
Business Type BarTavernLounge
Business Name Gem City Grill
County Los Angeles
New Construction N
Property Type BusinessOpportunity
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Building Features PhoneSystem TVSystem
Status Active
Directions East of Myrtle and South of Colorado
City Monrovia
View Y/N N
Senior Community Y/N N
MLS Area 639 - Monrovia
Lot Size Units SquareFeet
Lot Size Square Feet 8221.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Listing Terms Cash CashtoNewLoan
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Leasable Area 2248.0
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Building Area Units SquareFeet
Standard Status Active
Occupancy Type Owner
Year Built Source Assessor
Total Actual Rent 3000.0
Ownership Type Partnership
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Exterior
Lot Size Area 8221.0
Spa N
Building Area Total 7300.0
Lot Size Acres 0.1887
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Electric On Property Y/N N
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Internal Only
Street Number 1 115
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* Excluded Features
List By
Henry Nunez Real Estate

Broker

(626) 626-0207

Phone

Affordability Calculator

$3,988
Per Month
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Monthly Principal & Interest
$3,988
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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/17/2024$600,000 Listed Price

Map


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115 -117 E Olive Avenue, Monrovia, CA, 91016 is a Commercial Property for sale at $600,000 with 7,300 sqft and a lot size of 0.1887. 115 -117 E Olive Avenue is a studio with 0.0 baths and was built in 1908. The property's zip code is 91016 which is in Monrovia, CA