1251 College View Drive, Monterey Park, CA 91754

$3,100,000
15
BD
14
BA
8,745
SqFt
List Price
$3,100,000
Status
ACTIVE
MLS#
24380549
Year Built
1959
Bedrooms
15
Bathrooms
14
Living Sq. Ft
8,745
Lot Size
15,192
Acres
0.35
Days on Market
86
Property Type
Multifamily
Stories
Two Levels

Property Description

Constructed in 1959 on a 15,192 square foot double 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 and carport 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 cooling. With current rents approximately 26% below market, a new owner is presented with the opportunity to increase rents to market upon vacancy or further increase rental income with complete unit renovations. There are no local rent control restrictions, but the property is subject to AB 1482. The property offers easy access to the 10, 60, and 710 freeways, providing ease of access to neighboring cities as well as Downtown Los Angeles, located less than 8 miles away. 1251 College View Drive is walking distance to East Los Angeles College (ELAC), which has a 2023 enrollment of 33,397 students.

Additional Information

Pool Description
None
Heat
Wall Furnace
Exterior Construction
Frame, Stucco, Wood Siding
Attached Structure
Detached
Number Of Units Total
13

Listing courtesy of Listing Agent: Priscilla Nee (priscilla.nee@cbre.com) from Listing Office: CB Richard Ellis, Inc..

Mortgage Calculator

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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.