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505 N New Avenue

Monterey Park, CA 91755

– beds
– baths
– sqft
10,742 sqft lot
1947 build
– on site

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AMAZING INVESTOR OPPORTUNITY IN A SUPERB LOCATION IN MONTEREY PARK! This is a well maintained hard to find 6-unit property located in the heart of Monterey Park, close to everything! Property has been managed by a professional management company and consists of one unit with 1 bedroom & 1 bathroom, four units with 2 bedrooms & 1 bathroom, and one unit with 3 bedrooms & 2 bathrooms. The property consists of two buildings, with 4 units in the front building and 2 units in the single story rear building(five units downstairs and one unit upstairs). Paved drive-way and assigned parking space for each unit. This is a rare opportunity for an investor seeking a steady flow of rental income. Close to Atlantic Square and Monterey Park downtown. Convenient to Schools, supermarket, 99-Ranch store, Hong Kong market, gym, restaurants, banks, and transportation. Property to be "sold as is". Drive-by only. Offer subject to interior inspection. Don't miss this incredible opportunity!

Listed By CRMLS_CA / Sharon Liu / Re/Max Premier Prop Arcadia / 626-758-0937

Last checked: Checking… • Last updated Mar 20, 2024 •

MLS# AR23179304 —

The Building

Year Built:

1947
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

4380.00
Building Area Units:

Square Feet
Total Number Of Units:

6
# of Buildings:

2
Stories Total:

2
Entry Level:

1
Accessibility Features:

Parking
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

5
# of Separate Water Meters:

1
# of Separate Electric Meters:

6

Interior

Levels:

Two
Entry Location:

1
Laundry:

See Remarks
Laundry:

1

Location

Directions:

New Ave / North of Garvey Ave
Latitude:

34.06762000
Longitude:

-118.10852000

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

MPR3*
Lot Features:

Back Yard, Front Yard, Lawn, Paved, Yard
Lot Size Area:

10742.0000
Lot Size Acres:

0.2466
Lot Size SqFt:

10742.00
Lot Size Source:

Assessor
View:

None
Security Features:

Carbon Monoxide Detector(s), Smoke Detector(s)
Road Frontage:

Access Road
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

4817.12
Tax Tract:

3615
Tax Lot:

2

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5258012023

Utilities

Utilities:

Electricity Connected, Natural Gas Connected, Sewer Connected
Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Curbs
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

Yes
Assessments:

Unknown

Parking

Parking:

Yes
Parking:

Assigned
Parking Spaces:

8.00
Uncovered Spaces:

8.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/19/24 Mar 19, 2024	Sold	CRMLS_CA	$1,720,000	-9.5%
12/17/23 Dec 17, 2023	Pending	CRMLS_CA	$1,900,000
11/6/23 Nov 6, 2023	Sold Subject To Contingencies	CRMLS_CA	$1,900,000

Multifamily Sold on 3/19/2024

$1,720,000

Listing provided by broker:

Sharon Liu

Re/Max Premier Prop Arcadia

626-758-0937

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Listing Courtesy of: CRMLS_CA and Re/Max Premier Prop Arcadia. Based on information from California Regional Multiple Listing Service, Inc. as of 11:23 on May 11.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

505 N New Avenue

Monterey Park, CA 91755