Property listed by NAI Capital Commercial Inc., Tim Steuernol 818-905-2400
$1,499,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
10
Square Ft.
4,306
Lot Size
0.19 Acres
Year Built
1960
MLS Number
25602295
30 Days Snapshot Of 91754
$908k
+6%
(avg) sold price
15
+66%
homes sold
62
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1960, Building area total: 4,306, Levels: Two, Living area: 4306, 2 stories, 1 building
Cooling
None
Heating
WallFurnace
Income
Gross income: $131,028, Net operating income: $84,106
Laundry
CommonArea
Lot
0.1892 acres, 8,240 square feet, Size: 8,240
Parking
10 totals parking, Covered, Garage, Tandem
Pool
None
Property
Zoning: MPR3YY, Deck, Porch, CityLights
Roof
Bitumen
Spa
None
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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