Active
318 S Lincoln Avenue
Monterey Park CA, 91755
$1,750,000
$573.02 per sqft
Active
6 Beds
6 Baths
3,054 sqft
Residential
Built in 1973
Listed by Yuan Le with Ricky&Jessie Realty 714-900-2472
Welcome to 318 and 320 S Lincoln Ave. Discover an exceptional investment opportunity in the highly desirable area of Monterey Park! This property comprises three units, each featuring 2 bedrooms and 2 bathrooms: unit 318A and 318B offer approximately 1,100 sqft, while unit 320 provides approximately 800 sqft, all nestled on a generous 11,725 sqft FLAT lot.
The front house consists of two units, 318A and 318B, each boasting its own private courtyard, laundry facilities, and water heater. Additionally, there's a third unit resides above the detached garage. The property also boasts an expansive backyard with potential for additional units, or re-development, buyer to verify.
Currently, Unit 318A and 318B are tenant-occupied at $1,770 and $2,250 per month respectively, while the back unit is vacant, with a market rent potential of $2,500. Each unit comes with 2 outdoor parking spaces, with the garage spaces currently utilized by the owner.
Tenants are responsible for their own utilities (water/trash, electricity, gas, internet), while the owner covers common area utilities (water/trash/electricity/gas) and gardening services. The property is equipped with 4 gas meters, 4 electric meters, 3 sub water meters, and 1 master water meter.
New upgrades include AC, windows and water heaters. Additionally, back unit has been freshly painted after being recently vacated.
Buyers are encouraged to verify all permits and explore the lot's development potential with the city. Conveniently located with easy access to schools, shopping centers, highways and recreational parks. Don't miss out on the incredible opportunity to own this GEM in Monterey Park!
TR24074237
MLSⓇ ID
April 14, 2024
Listed
April 29, 2024
Updated
Map
318 S Lincoln Avenue
Monterey Park CA, 91755
Interior Features
Total Stories
2
Bedrooms
6
Total Bathrooms
6
Interior Features
All Bedrooms Up, All Bedrooms Down
Laundry Description
Inside
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.27 Acres
Lot Features
6-10 Units/Acre
Sewer
Public Sewer
School Information
School District
Alhambra
Other Property Details
Area Name
641 - Monterey Park
Days on Market
14
Garage
Yes
Garage Spaces
3
Parking Total
3
View
No
View Description
None
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
MPR2*
Buyer Agency Compensation
2.25%
Listing Contact: 714-900-2472
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/29/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 4/29/2024 at 2:09 AM UTC