KW Commercial is pleased to present a unique multifamily investment located at 500 Everett Avenue, Monterey Park, California. The five unit property consists of 1-4 bedroom/3 bathroom, 1â3 bedroom/2 bathroom, and 3â2 bedroom/1 bathroom stand-alone individual units with no common walls. With combined 5,389 square feet of leasable space and is situated on a 16,330 square foot lot. Built in 1963, it garners a substantial value add investment opportunity for seasoned investors. Current owner has not remodeled or made any improvements over the years and all the units are occupied by long term tenants. This small multifamily investment opportunity is tailored for value-add opportunity. Current rents for all units are well below market rates. Two units, specifically the 4 and 3 bedroom units, have their own interior laundry hookups while the remaining three (3) 2 bedroom units have access to coin laundry machines. The property's location is most prevalent and the property being located in a non-rent control city. The property is located in close proximity to the Interstate 10 Freeway, local dining, shopping, markets, and entertainment. Monterey Park is neighboring Los Angeles, Alhambra, South San Gabriel, Rosemead, and Montebello. It has been sprawled by investors seeking to capitalize on the cityâs locational benefit of being adjacent to downtown LA. Buyer to verify all information. Property sells at as-is condition.
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