540
E
Garvey Avenue,
Monterey Park,
California
CA
91755-1968
Price: $995,000
Mortgage Calculator
Listing ID: DW18071387
Price/SqFt:
$404.47
Status:
Active Under Contract
SqFt:
2,460
Sq Ft
Year Built:
1945
The subject property consists of 3 retail units in the front building and 1 automotive unit in the rear building. The 4 total units are occupied by 3 tenants (the trophy tenant occupies 2 units). All tenants have been there longer than 10 years. All leases are NNN. All tenants are established and pay rent in a timely manner. Tenants have separate meters and the property is very easy to manage. Although there has been no vacancy at this location for over a decade, because of the small unit sizes (420 sf for the retail) the units are easy to keep rented. The property is well located on a corner in the desirable neighborhood of Monterey Park, CA. One of the tenants has a 8.5% rental increase coming up later this year. The property could also be a good fit for an owner user because 65% of the building will be on a month to month term by the end of 2018. Parking in the rear of the lot as well.
Primary Features
County:
Los Angeles
Price/SqFt:
404.47
Property Sub Type:
Retail
Property Type:
Commercial Sale
Year Built:
1945
Interior
Building Area Units:
Square Feet
Condo Area Units:
Square Feet
External
Lot Size Source:
Assessor
Minimum Total Area Units:
Square Feet
Number Of Buildings:
1
Water Source:
Public
Location
Country:
US
MLS Area Major:
641 - Monterey Park
Additional
Additional Parcels:
no
Building Status:
Existing
Days On Market:
2094
Land Use:
Retail
List Agent State License:
01407997
List Office State License:
01799409
Max Total Area Units:
Square Feet
Number Of Units Leased:
4
Number Of Units Total:
4
Parcel Number:
5259016001
Financial
Cap Rate:
5.05
Insurance Expense:
1428
Maintenance Expense:
1200
Net Operating Income:
51780
Other Expense:
1200
Real Estate Tax Expense:
12815
Special Listing Conditions:
Standard
Water Sewer Expense:
750
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Based on information from CARETS as of Thursday, March 28th, 2024 01:20:37 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listed by: ChristopherComfort, DRE #01407997 from Apex Properties
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