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640 W Riggin ST Monterey Park, CA 91754
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Key Details
Sold Price $1,135,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24158193
Sold Date 09/12/24
HOA Y/N No
Year Built 1948
Lot Size 6,939 Sqft
Property Description
We are pleased to exclusively offer for sale this 3 Unit multi-family property for sale in the prime rental location of Monterey Park. Strategically positioned within walking distance to Atlantic Square, residents enjoy easy access to a variety of restaurants and shopping outlets, along with proximity to the metro station, ensuring convenient transportation options. The subject property features a desirable unit mix of two 2-Bedroom/1-Bathroom units and one single-story 1-Bedroom/1-Bathroom unit. The property encompasses 2,442 rental square feet on a 6,941 square foot lot.
Tenants are afforded an array of attractive amenities including garage parking, interior laundry hookups, and a shared picnic area, enhancing the quality of life and rental appeal. Each unit is responsible for their electricity and gas, optimizing cost efficiency for the owner. The property has been updated to copper plumbing as well.
With a significant potential for a 20+% increase in rental income, this property stands out as an exceptional investment with promising upside in a dynamic rental market. Perfect for investors seeking a property in a high-demand area with strong growth potential and tenant amenities that drive competitive rental rates.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Zoning MPR2*
Interior
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 3
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5266007009
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with AMY LI • CANDET PROPERTIES, INC.