318 S Lincoln Avenue, Monterey Park, CA 91755

$1,750,000
6
BD
6
BA
3,054
SqFt
List Price
$1,750,000
Status
ACTIVE UNDER CONTRACT
MLS#
TR24074237
Year Built
1973
Bedrooms
6
Bathrooms
6
Living Sq. Ft
3,054
Lot Size
11,725
Acres
0.27
Lot Location
6-10 Units/Acre
Days on Market
43
Property Type
Single Family Residential
Property Sub Type
Single Family Residence
Stories
Two Levels

Property Description

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!

Additional Information

Pool Description
None
Heat
Central
Cooling
Yes
Cooling Description
Central Air
View
None
Garage Spaces Total
3
Sewer
Public Sewer
Water
Public
School District
Alhambra
Interior Features
All Bedrooms Up, All Bedrooms Down
Attached Structure
Attached
Number Of Units Total
3

Listing courtesy of Listing Agent: Yuan Le (jessie.yuanle@gmail.com) from Listing Office: Ricky&Jessie Realty.

Mortgage Calculator

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Calculator source: Real Geeks

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.