423 N Chandler Ave
COMMERCIAL
$2,890,000
Property Description
Rare Income Investment Opportunity located in downtown Monterey Park City! This 18,920 SqFt Lot features 7 single-story townhome-like apartment units. Features: One (1) 2B/2Bath w/private driveway, fenced back patio & front lawn, brand new 3 car parking garage (can park up to 8 cars); and Six (6) 1B/1Bath Large units each with its own 2 parking spaces, washer/dryer hook-ups, and Mini AC splits (Cooling & Heating). Additional bonuses: recent upgrades to copper plumbing, new sewer system, and brand-new pavers to the entire property. Each unit is individually metered. Four (4) of the units have been completely remodeled. Residents enjoy the convenience of this location, with walkable distance to retail amenities, the Atlantic Time Square and proximity to the 10 Fwy and downtown L.A! The property’s excellent location with minimal maintenance makes a prime investment opportunity for a value-add strategy to deliver above average returns. This is the first time 423 N Chandler has been offered for sale in more than 20 years. The property’s location, rental demand, and embedded value make it a strong acquisition opportunity. Situated amongst new hotel and entertainment developments like Marriot, Hilton, Hyatt, Atlantic Time Square, etc. Airbnb opportunity!
Units
8
Lot Size
18920
Levels
1
Bathrooms
8
Built Year
1956
MLS Number
N/A
Sqft
4566
Garage Cars
14
Main Location
Monterey Park, CA
Great Add On Potentials
Excellent Location: Downtown Monterey Park
Current 4.3% Cap with Ongoing High 6-8% Cap
Robust Demographics in Surrounding Area Within 5-Miles of Radius
100% Occupied, High Rent Demand Area
Great Airbnb Opportunity
Open House Dates
N/A
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