6
See all 6 photos
$2,950,000
Est. payment /mo
8,745 SqFt
Active
1251 College View Drive Monterey Park, CA 91754
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,745 sqft
Price per Sqft $337
MLS Listing ID CL25503037
HOA Y/N No
Year Built 1959
Lot Size 0.349 Acres
Acres 0.35
Property Sub-Type Other
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 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 25% 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 enrollment of approximately 30,321 students.
Location
State CA
County Los Angeles
Zoning MPR3
Interior
Heating Wall Furnace
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 5253033043
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Listed by Priscilla Nee • CB Richard Ellis, Inc.