$3,100,000
1251 College View DR Monterey Park, CA 91754
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$3,100,000
Est. payment /mo
15 BD
14 BA
8,745 SqFt
Active
1251 College View DR Monterey Park, CA 91754
UPDATED:
09/30/2024 06:31 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,745 sqft
Price per Sqft $354
MLS Listing ID 24380549
Bedrooms 15
HOA Y/N No
Year Built 1959
Lot Size 0.349 Acres
Property Description
Constructed in 1959 on a 15,192 square foot double lot, 1251 College View Drive is a two-story, 13-unit property with a total building size of 8,745 square feet. The property is separately metered for gas and electric, is serviced by a central water heater, and offers a gated pool, an on-site laundry facility, and covered and carport parking with storage bins. 1251 College View Drive boasts a strong unit mix of one bachelor/one-bathroom unit, ten one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one two-bedroom/two-bathroom unit. The units offer wall units for cooling. With current rents approximately 27% below market, a new owner is presented with the opportunity to increase rents to market upon vacancy or further increase rental income with complete unit renovations. There are no local rent control restrictions, but the property is subject to AB 1482. The property offers easy access to the 10, 60, and 710 freeways, providing ease of access to neighboring cities as well as Downtown Los Angeles, located less than 8 miles away. 1251 College View Drive is walking distance to East Los Angeles College (ELAC), which has a 2023 enrollment of 33,397 students.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Zoning MPR3YY
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Covered, Carport
Carport Spaces 6
Pool None
Parking Type Covered, Carport
Total Parking Spaces 12
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5253033043
Special Listing Condition Standard
Listed by Priscilla Nee • CB Richard Ellis, Inc.