Monterey Park, CA 91755,825 E Garvey AVE
Monterey Park, CA 91755,825 E Garvey AVE
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$3,000,000

$3,200,000

6.3%
Est.Price: ?

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Est. payment /mo

0.5 Acres Lot


SOLD DATE : 10/31/2018

Key Details

Sold Price $3,000,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID AR18145366

Sold Date 10/31/18

HOA Y/N No

Year Built 1959

Lot Size 0.502 Acres

Property Description

First time on market. Fantastic mixed-use property located at a prime location in Monterey Park, CA. 825-835 consists of 9-unit apartment (100% occupied, month-to-month leases with below-market rents), and a liquor store (Ted’s Liquor, currently with liquor license worth $100k, a prospect tenant at $6,000/month). For Ted’s liquor, we have a line of tenants ready to go in at $6k +NNN. Tax records show building size 8,399sf and lot area 21,873sf. May be sold together with 849 E Garvey Ave (Jim’s VW, AR18052060), currently for sale at $1.6 million. Daily vehicles per day 28,000vpd. City of Monterey Park Voted #3 in the U.S. by Time Inc' s Money Magazine Best Places to Live 2017 !!! A suburb 8 miles east of Downtown LA, Monterey Park is a transportation hub between the 10, 60, and 710 freeways; an educational hub with a great school district and higher learning institutions like USC, Caltech, and Cal State LA nearby; a cultural hub with a diverse community.

Location

State CA

County Los Angeles

Area 641 - Monterey Park

Zoning MPCM*

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Curbs, Street Lights, Sidewalks

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story Two

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5258005059

Acceptable Financing Cash to New Loan, 1031 Exchange

Listing Terms Cash to New Loan, 1031 Exchange

Financing Other

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by John Man • Man Investment Group
Bought with QUAN TRUONG • C-21 INVERNESS
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