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505 N New Avenue, Monterey Park, CA 91755
$1,720,000
505 N New Avenue, Monterey Park, CA 91755View this property at 505 N New Avenue, Monterey Park, CA 91755
505 N New AvenueMonterey ParkCA91755
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Property Description
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!
Full Property Details
Full Property Details for 505 N New Ave
General
- Sold For: $1,720,000
- Status: Closed
- Type: Multi-Family
- MLS ID: AR23179304
- Added to Site: 225 day(s) ago
Rooms
Other Rooms
- Laundry: See Remarks
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Assigned
- Parking: Assigned
Location
- Area: 641 - Monterey Park
- County: Los Angeles
- Development Name: 641 - Monterey Park
- Driving Directions: New Ave / North of Garvey Ave
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 5
- # Electric Meters: 6
Structural Information
- Entry Location: 1
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 4,380
- Year Built: 1947
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
Unit 2
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 5
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 6
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 3
Lot Features
- Property View: None
- Lot Size (Acres): 0.2466
- Lot Size Source: Assessor
- Zoning: MPR3*
- Lot Description: Back Yard, Front Yard, Lawn, Paved, Yard
Financial Considerations
- Price Per Sq. Ft.: $392.69
- Price Per Unit: 316667
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
Listed by Re/Max Premier Prop Arcadia, Sharon Liu
Sold by 1000 Realty Corporation, Benjamin Lin
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Schools
Schools serving 505 N New Ave
School District:Garvey Elementary School District
Rating | Name | Grades | Distance |
---|---|---|---|
7544 Emerson Pl, Rosemead, CA 91770 | K-6 | 0.2 mi | |
2720 Jackson Ave, Rosemead, CA 91770 | 7-8 | 0.5 mi | |
501 E Hellman Ave, Alhambra, CA 91801 | 9-12 | 0.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 505 N New Ave
Date
Details
Price
Change
Source
3/19/2024
Sold
$1,720,000
-9.47%
MLS
9/28/2023
Listed
$1,900,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
505 N New Avenue, Monterey Park, CA 91755 (MLS# AR23179304) is a Multi-Family property that was sold at $1,720,000 on March 19, 2024. Want to learn more about 505 N New Avenue? Do you have questions about finding other Multi-Family real estate for sale in Monterey Park? You can browse all Monterey Park real estate or contact a Coldwell Banker agent to request more information.