Monterey Park CA  home offered at $995,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

540 E Garvey Avenue
Monterey Park, California CA 91755-1968
Price: $995,000
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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
Laundry Features: None

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

Zoning Info


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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

Contact - Listing ID DW18071387

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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