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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$1,499,000

Est. payment - /mo

10 Beds

5 Baths

4,306 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,306 sqft

Price per Sqft $348

MLS Listing ID 25602295

Bedrooms 10

HOA Y/N No

Year Built 1960

Lot Size 8,241 Sqft

Property Description

Located at 1581 College View Drive in Monterey Park, CA, this well maintained 5-unit multifamily building was constructed in 1960, spans4,306 square feet, and sits on an 8,238-square-foot lot zoned MPR3YY.The property offers a desirable unit mix of (5) 2-bedroom, 1-bath units. Each unit is individually metered for gas and electricity, while water and sewer are master-metered. On-site amenities include a laundry facility, providing added convenience for tenants. Electrical at the property was recently updated and it is set up to add charging stations for electric vehicles. Additionally, the roof was just replaced. Plumbing has been updated to copper over time throughout most of the building. The property offers 5 tuck-under parking spaces. This apartment building presents a solid investment opportunity with stable income with approximately 20%upside in rents, in a sought-after Monterey Park location near schools, shopping, and major transportation routes. The property is subject to California state rent control, AB1482.

Location

State CA

County Los Angeles

Area 641 - Monterey Park

Zoning MPR3YY

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Laundry Common Area

Exterior

Parking Features Covered, Garage, Tandem

Pool None

View Y/N Yes

View City Lights

Roof Type Bitumen

Porch Deck, Porch

Total Parking Spaces 10

Private Pool No

Building

Faces South

Story 2

Entry Level Two

Sewer Other

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5252028029

Special Listing Condition Standard

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Listed by Tim Steuernol NAI Capital Commercial Inc.

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1581 College View DR Monterey Park, CA 91754