Rare opportunity to acquire two (2) single story side-by-side duplexes on a large lot in highly
sought after North-Central Monterey Park. The total combined building size is 3,344 s.f., built in
1954. All four units are two bedroom / one bath measuring approximately 836 s.f. each. 12,607 s.f. lot with plenty of dedicated on-site parking for tenants, which includes four garages
plus an additional four surface spots.
Two (2) units are vacant which enables a new owner to select new tenants and capture new
market rents. This can serve as a significant market rental income advantage moving
forward, especially in light of the upcoming state wide rent control measure signed into
effect by California Governor Gavin Newsom.
Excellent Investment Pro forma for the area: $100,800 Gross Rental Income, 5.19% Cap Rate
and 13.84 Gross Rental Multiplier.
Monterey Park was named the third best American City to live in by Money Magazine in 2017,
and has been thriving ever since. The multifamily rental market continues to demonstrate
strength and growth due to the area’s prime location near major freeways, rail transportation, retail and shopping centers, schools and colleges, as well as numerous parks, cultural
venues/events, and many restaurants with renowned domestic and international cuisine.
The subject property is located in a desirable residential section approximately 5 minutes from
the 10 freeway, The City of Alhambra, and Atlantic Times Square, a 200,000 s.f. national,
regional, and local shopping center which includes 210 luxury condos, shops, restaurants, AMC
Theaters, and 24 Hour Fitness. Schools in proximity include Repetto Elementary, Ynex
Elementary, Saint Stephen Martyr, Monterey Vista Elementary, and Mark Keppel High School, a
four-year California Distinguished School and part of the award winning Alhambra Unified
School District, which also serves this section of Montery Park. Parks in proximity include
Barnes Park Amphitheatre, Sierra Vista Park, Garvey Ranch Park, Edison Park and Trails, and
Sequoia Park. Restaurants in proximity include Cocary, Mama Lu's Dumpling House, and NBC
Seafood. Also in proximity to Monterey Park City Hall, Monterey Park Bruggemeyer Library, The Boy's & Girl's Club of West San Gabriel Valley and LA Fitness.
Additional Highlights
- New roofs on all structures, including garages, with a transferable warranty
- Walkup driveway slurry sealed for enhanced wear and tear resistance, added safety, and
improved cosmetic appearance
- Termite work completion on all structures, including garages, with warranty
