$2,100,000
$2,100,000
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232 N Alhambra AVE Monterey Park, CA 91755
6,574 SqFt
Key Details
Sold Price $2,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,574 sqft
Price per Sqft $319
MLS Listing ID 21792582
Sold Date 12/02/21
HOA Y/N No
Year Built 1963
Lot Size 9,600 Sqft
Acres 0.2204
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.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Zoning MPR3YY
Interior
Heating None
Fireplace No
Appliance Dryer, Washer
Exterior
Garage Carport
Parking Type Carport
Total Parking Spaces 9
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 5258001047
Special Listing Condition Standard
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Bought with QINDAN ZHENG • COLDWELL BANKER GEORGE REALTY