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$2,980,000
Est. payment /mo
0.39 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS26227750
HOA Y/N No
Year Built 1957
Lot Size 0.394 Acres
Property Sub-Type Mixed Use
Property Description
Prime Monterey Park Investment Opportunity! Ideally situated in the heart of Monterey Park, just minutes from the Garfield Avenue and I-10 Freeway interchange, this exceptional income property offers a rare combination of location, scale, and value-add potential. The property features four separate buildings with five units, including two 3 bedroom, 2 bath and three 2 bedroom, 1 bath units, providing a versatile unit mix appealing to a broad range of tenants. Expansive 17,172 square foot lot with approximately 5,293 square feet of building area offers impressive scale and potential for long-term value appreciation. A total of 12 parking spaces and Four garages provides exceptional parking convenience. All five units are individually metered for gas and electricity, offering added convenience for utility management. Zoned R3, the property may offer future multi-unit development potential, subject to city regulations and approvals. Current rents are below market, presenting an estimated rental upside of over 30% and an excellent opportunity to increase income through strategic rent adjustments. The property underwent seismic retrofitting in 2011. With its expansive lot, versatile five-unit configuration, and significant rental upside, this is a compelling value-add investment with exceptional potential. Don't miss this rare opportunity to unlock the full value of a high-potential income property in one of Monterey Park's most desirable locations!
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Interior
Fireplace No
Laundry Laundry Room, Outside
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Dog Park, Park, Street Lights, Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5255011012
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by CINDY JIE Pinnacle Real Estate Group 626-216-4228, DRE #02053015
Nearby Locations
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