We are pleased to present the opportunity to acquire 2 sister properties: 308 & 314 North Nicholson Avenue, a 20-unit multifamily asset in Monterey Park, a core market in the San Gabriel Valley. This 20 unit complex has a desirable location fundamentals minimize lease-up time and offers a new investor high rental potential with a stable resident profile. These strategically located, two-story structures were built in 1976 and consist of 2 three-bedroom/two-bathroom units, 8 1 bedroom plus den/one-bathroom units, and 10 two-bedroom/two-bathroom units. It offers 20 covered parking spaces and 20 surface parking spaces for a total of 2 parking spaces per unit. There are leased laundry machines providing ease of management. The properties are individually metered for gas and electricity. There are also two - 1,000 SF garage structures towards the back of the property that offer Accessory Dwelling Unit (ADU) potential under new AB68 law. This is a rare opportunity for an investor to acquire a generational asset with an irreplaceable location that has been well-maintained yet positioned for future renovation.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
