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$ 3,195,000
Est. payment /mo
New
218 W Hellman Monterey Park, CA 91754
0.45 Acres Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26214190
HOA Y/N No
Year Built 1965
Lot Size 0.453 Acres
Property Sub-Type Apartment
Property Description
Trophy Multifamily Asset in the Heart of Monterey Park
First time on the market in over 45 years! This exceptional multifamily investment opportunity is ideally located in the heart of Monterey Park and sits on an oversized approximately 20,000-square-foot lot.
The property offers an attractive unit mix consisting of approximately 80% two-bedroom units and 20% one-bedroom units, providing strong appeal to a broad tenant base. Most units feature private balconies or patios and are SB 721 compliant.
Tenant amenities include a beautifully landscaped common area with a BBQ and outdoor seating area, mature gardens, and common-area laundry facilities. Each tenant also benefits from either a single or dual enclosed garage, providing valuable off-street parking and additional storage.
The property presents upside income potential through below-market rents and is exempt from the Los Angeles City RSO, with rents subject to applicable California statewide rent-control guidelines.
Additional property features include:
Separately metered gas and electricity
Gated entrance
Enclosed garage parking
Mature landscaping and garden areas
Stable tenancy
Approximately 20,000 SF lot
Attractive 80% two-bedroom / 20% one-bedroom unit mix
With its long ownership history, desirable unit mix, substantial lot size, garage parking, and potential for rental upside, this is a rare opportunity to acquire a multifamily asset in a market where properties with more than five units trade infrequently.
IMPORTANT NOTE: Buyer/agent to verify square footage (lot and units) and all MLS information. Broker and agent do not represent or guarantee accuracy of the square footage, bedroom/bathroom count, lot size or lot lines/dimensions, permitted or unpermitted spaces, school boundary lines or eligibility, rent control, or the information concerning the conditions, or features of the property. Buyer/agent are advised to independently verify the accuracy of all information.
First time on the market in over 45 years! This exceptional multifamily investment opportunity is ideally located in the heart of Monterey Park and sits on an oversized approximately 20,000-square-foot lot.
The property offers an attractive unit mix consisting of approximately 80% two-bedroom units and 20% one-bedroom units, providing strong appeal to a broad tenant base. Most units feature private balconies or patios and are SB 721 compliant.
Tenant amenities include a beautifully landscaped common area with a BBQ and outdoor seating area, mature gardens, and common-area laundry facilities. Each tenant also benefits from either a single or dual enclosed garage, providing valuable off-street parking and additional storage.
The property presents upside income potential through below-market rents and is exempt from the Los Angeles City RSO, with rents subject to applicable California statewide rent-control guidelines.
Additional property features include:
Separately metered gas and electricity
Gated entrance
Enclosed garage parking
Mature landscaping and garden areas
Stable tenancy
Approximately 20,000 SF lot
Attractive 80% two-bedroom / 20% one-bedroom unit mix
With its long ownership history, desirable unit mix, substantial lot size, garage parking, and potential for rental upside, this is a rare opportunity to acquire a multifamily asset in a market where properties with more than five units trade infrequently.
IMPORTANT NOTE: Buyer/agent to verify square footage (lot and units) and all MLS information. Broker and agent do not represent or guarantee accuracy of the square footage, bedroom/bathroom count, lot size or lot lines/dimensions, permitted or unpermitted spaces, school boundary lines or eligibility, rent control, or the information concerning the conditions, or features of the property. Buyer/agent are advised to independently verify the accuracy of all information.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Interior
Heating Forced Air
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 18.0
Garage Description 18.0
Pool None
Community Features Storm Drain(s), Street Lights, Sidewalks
Total Parking Spaces 18
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5255002030
Energy Description 6500.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by David Holstein The Holstein Group 310-345-9994, DRE #01210777
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