1251 College View Drive, Monterey Park

$3,100,000

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5 Beds
5 Baths
8,745 Sqft
.35 Acre
0 Garage

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.

Essential Information

MLS® #
24380549
Price
$3,100,000
Bedrooms
5
Bathrooms
5.00
Square Footage
8,745
Acres
0.35
Year Built
1959
Type
Residential Income
Status
Active

Community Information

Address
1251 College View Drive
Area
641 - Monterey Park
City
Monterey Park
County
Los Angeles
Zip Code
91754
Senior Community
N

Amenities

Parking Spaces
12
Parking
Covered, Carport
Garages
Covered, Carport
Pool
None

Interior

Heating
Wall Furnace
Fireplaces
None
# of Stories
2
Stories
Two

Exterior

Exterior
Stucco, Wood Siding, Frame
Construction
Stucco, Wood Siding, Frame

Additional Information

Date Listed
April 16th, 2024
Days on Market
17
Zoning
MPR3YY

Listing Details

Agent
Priscilla Nee
Office
CB Richard Ellis, Inc.

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Based on information from California Regional Multiple Listing Service, Inc. as of May 3rd, 2024 at 9:30pm PDT. 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.