$1,900,000
$1,995,000
4.8%For more information regarding the value of a property, please contact us for a free consultation.
0.39 Acres Lot
SOLD DATE : 10/08/2024
Key Details
Sold Price $1,900,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR24158010
Sold Date 10/08/24
HOA Y/N No
Year Built 1961
Lot Size 0.388 Acres
Property Description
Discover a rare investment opportunity in the heart of Monterey Park with this exceptional property, which features a charming 3-bedroom, 2-bathroom single-family home alongside four single-story rental units, all situated on a sprawling 16,918 sq. ft. lot. With a total of 4,983 sq. ft. of living space, this versatile property offers significant upside potential, making it ideal for investors or those seeking a multi-functional residential setup. The main house, with 1,204 sq. ft., is perfect for owner occupancy, while the four rental units, totaling 3,779 sq. ft., each come with private yards (four out of five units) and individual water heaters.
The property includes 10 tandem parking spaces—five carport and five open parking—as well as ample street parking. With the potential to add up to three Accessory Dwelling Units (ADUs), this property presents an excellent opportunity for increased rental income or additional living space. The single-story layout of all units and the durable pitched roof add to the overall appeal.
Situated in a residential neighborhood, this property is within walking distance of City Hall, Atlantic Blvd and Garvey Ave., as well as shopping, restaurants, and Barnes Parks.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Zoning MPR3CD-R3*
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Garage Assigned
Garage Spaces 2.0
Carport Spaces 5
Garage Description 2.0
Pool None
Community Features Urban
Roof Type Asphalt
Parking Type Assigned
Total Parking Spaces 12
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5257008014
Energy Description 246.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with YAN CUI • GRANDMARK REALTY INC.