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232 N Alhambra Ave

Monterey Park, CA 91755
  • $2,100,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: 21-792582
UPDATED: 204 min ago
$2,100,000
  • 13
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,574
    SQFT
  • $319
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Description

The Pacific Partners of Colliers International are pleased to present for sale this 6-Unit multi-family apartment building located at 232 N. Alhambra Ave., Monterey Park CA 91755. The property is 1 block north of Monterey Parks Garvey Avenue retail corridor, in a quiet residential neighborhood. It consists of one two-story building with front yard and parking/storage in the rear. The building totals 6,574 rentable square feet situated on an approximately 9,601 square foot rectangular lot. Originally built in 1963, this well-maintained multi-family asset has a unit mix of (one) 1-bedroom/1-bathroom, (three) 2-bedroom/1-bathroom, (one) 2-bedroom/2-bathroom, and (one) 3-bedroom/2-bathroom+Den. Rental rates at this property are approximately 25% below market rate. The property has the potential to achieve over 4.5% CAP rate with updated market rents in a desirable SoCal location. Amenities include front yard, on-site parking, and storage in the rear of the property. There is a laundry room on-site currently generating additional income. In addition, the building exterior and laundry room were recently painted with great curb appeal. This apartment is conveniently located within short walking distance to distinguished Mark Keppel High School and Monterey Vista Elementary, both scored 9 out of 10 on www.greatschools.org. The property is located near 10 freeway in a quiet residential neighborhood and adjacent to the multitude of residential amenities of nearby shopping centers and public services. Drive-by only, do not contact tenants. Make offer subject to inspection.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. 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.
www.theparsonsrealestateteam.com/homes/122195110
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232 N Alhambra Ave Monterey Park, CA 91755

  • Price: $2,100,000
  • Status: Active
  • Updated: 204 min ago
  • ID#: 21-792582
13
Beds
0
Baths
0
½ Baths
0.22
Acres
6,574
SQFT
$319
$/SQFT
1963
Built
Neighborhood:
Monterey Park
County:
Los Angeles
Area:
Monterey Park
Property Description
The Pacific Partners of Colliers International are pleased to present for sale this 6-Unit multi-family apartment building located at 232 N. Alhambra Ave., Monterey Park CA 91755. The property is 1 block north of Monterey Parks Garvey Avenue retail corridor, in a quiet residential neighborhood. It consists of one two-story building with front yard and parking/storage in the rear. The building totals 6,574 rentable square feet situated on an approximately 9,601 square foot rectangular lot. Originally built in 1963, this well-maintained multi-family asset has a unit mix of (one) 1-bedroom/1-bathroom, (three) 2-bedroom/1-bathroom, (one) 2-bedroom/2-bathroom, and (one) 3-bedroom/2-bathroom+Den. Rental rates at this property are approximately 25% below market rate. The property has the potential to achieve over 4.5% CAP rate with updated market rents in a desirable SoCal location. Amenities include front yard, on-site parking, and storage in the rear of the property. There is a laundry room on-site currently generating additional income. In addition, the building exterior and laundry room were recently painted with great curb appeal. This apartment is conveniently located within short walking distance to distinguished Mark Keppel High School and Monterey Vista Elementary, both scored 9 out of 10 on www.greatschools.org. The property is located near 10 freeway in a quiet residential neighborhood and adjacent to the multitude of residential amenities of nearby shopping centers and public services. Drive-by only, do not contact tenants. Make offer subject to inspection.
Exterior Features

Lot Size Area 9602 Other Structures None Parking Garage Carport Total Parking 9

Interior Features

Baths Total 8.00 Cooling Air Conditioning Equipment DryerWasher Heating None

Property Features

Assessed Total Value 905018 Gross Income 113520 Gross Operating Income 111464 Like Units1 1 Like Units2 1 Like Units3 3 Like Units4 1 Net Operating Income 69200.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 42265 Type Of Units Apartment Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Mpr3yy

Listing provided courtesy of Edward Pan DRE#01894476 of Colliers International Greater Los Angel.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. 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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