1251 College View Dr - Apartments FOR SALE


Monterey Park, CA 91754
$2,950,000 USD
310-550-2508
1251 College View Dr, Monterey Park, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/6
null | 4.8% Cap Rate

1251 College View Dr
Monterey Park, CA 91754


HIGHLIGHTS

  • Desirable Monterey Park Location; Walk Score of 81
  • Minutes from Atlantic Times Square (a ±230,000 square foot mixed-use complex built-in 2012)
  • Proximate to East LA College with approximately ±30,321 Students Enrolled
  • Strong Unit Mix of 1 (Bachelor/1B), 10 (1B+1B's), 1 (2B+1B), and 1 (2B+2B)
  • ±8,745 SF Building Size on ±15,192 SF Lot
  • Current Rents ±25% Under Market; Subject Only to AB 1482, No Local Rent Control Restrictions

OVERVIEW

CBRE, Inc. is proud to exclusively present 1251 College View Drive in the city of Monterey Park. Located just west of Atlantic Boulevard, between Floral Drive and Brightwood Street, 1251 College View Drive offers an investor the chance to acquire a value-add opportunity in one of the densest submarkets within the West San Gabriel Valley. Constructed in 1959 on a ±15,192 square foot 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 heating and cooling.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$337 USD /SF

# OF UNITS

13

PRICE/UNIT

$226,923

CAP RATE

4.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Desirable Monterey Park Location | 13 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,192 SF

ZONING

RM

APN/PARCEL ID

5253-033-043

ASK ABOUT THIS PROPERTY

Priscilla NeeCBRE, Inc.More Info
310-550-2508

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Priscilla NeeCBRE, Inc.More Info
310-550-2508

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.