AMAZING INVESTOR OPPORTUNITY IN A SUPERB LOCATION IN MONTEREY PARK! This is a well maintained hard to find 6-unit property located in the heart of Monterey Park, close to everything! Property has been managed by a professional management company and consists of one unit with 1 bedroom & 1 bathroom, four units with 2 bedrooms & 1 bathroom, and one unit with 3 bedrooms & 2 bathrooms. The property consists of two buildings, with 4 units in the front building and 2 units in the single story rear building(five units downstairs and one unit upstairs). Paved drive-way and assigned parking space for each unit. This is a rare opportunity for an investor seeking a steady flow of rental income. Close to Atlantic Square and Monterey Park downtown. Convenient to Schools, supermarket, 99-Ranch store, Hong Kong market, gym, restaurants, banks, and transportation. Property to be "sold as is". Drive-by only. Offer subject to interior inspection. Don't miss this incredible opportunity!
Sold for $1,720,000
Listed by: Re/Max Premier Prop Arcadia • Sharon Liu • Contact: 626-538-0827
Bought with: 1000 Realty Corporation
$1,720,000
505 N New Ave, Monterey Park, CA 91755
10beds
7baths
4,380sqft
Multi Family
Built in 1947
-- sqft lot
$-- Zestimate®
$393/sqft
$4,746 Estimated rent
Home value
Not available
Estimated sales range
Not available
$4,746/mo
Zestimate® history
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Close to atlantic squareConvenient to schools
Zillow last checked:
Listing updated:
Listed by:
Sharon Liu DRE #01720175 626-758-0937,
Re/Max Premier Prop Arcadia
Bought with:
Benjamin Lin, DRE #01383988
1000 Realty Corporation
Source: CRMLS,MLS#: AR23179304
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 7
Appliances
- Laundry: See Remarks
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 4,380
- Total interior livable area: 4,380 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned
- Uncovered spaces: 8
Accessibility
- Accessibility features: Parking
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: None
Lot
- Size: 10,742 Square Feet
- Features: Back Yard, Front Yard, Lawn, Paved, Yard
Details
- Parcel number: 5258012023
- Zoning: MPR3*
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1947
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected
Community & HOA
Community
- Features: Curbs
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
Location
- Region: Monterey Park
Financial & listing details
- Price per square foot: $393/sqft
- Tax assessed value: $1,754,400
- Annual tax amount: $25,316
- Date on market: 9/28/2023
- Cumulative days on market: 35 days
- Listing terms: Cash,Conventional
- Total actual rent: 119940
- Tenant pays: Electricity, Gas
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 3/19/2024 | Sold | $1,720,000-9.5%$393/sqft |
Source:  CRMLS #AR23179304 Report a problem | ||
| 12/18/2023 | Pending sale | $1,900,000$434/sqft |
Source: CRMLS #AR23179304 Report a problem | ||
| 11/6/2023 | Contingent | $1,900,000$434/sqft |
Source: CRMLS #AR23179304 Report a problem | ||
| 10/8/2023 | Listed for sale | $1,900,000$434/sqft |
Source: CRMLS #AR23179304 Report a problem | ||
| 2/15/2020 | Listing removed | $1,375 |
Source: Vantage Asset Management LTD Report a problem | ||
| 1/24/2020 | Listed for rent | $1,375 |
Source: Vantage Asset Management LTD Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $25,316 -12.8% | $1,754,400 -14.8% |
| 2024 | $29,029 +221.4% | $2,059,380 +268.9% |
| 2023 | $9,032 +4.1% | $558,320 +2% |
| 2022 | $8,672 +0.8% | $547,373 +2% |
| 2021 | $8,603 +0.9% | $536,641 +1% |
| 2020 | $8,530 | $531,139 +2% |
| 2019 | $8,530 +5.1% | $520,726 +2% |
| 2018 | $8,115 | $510,517 +2% |
| 2017 | $8,115 +1.5% | $500,508 +2% |
| 2016 | $7,994 +6.6% | $490,695 +1.5% |
| 2015 | $7,497 +2.8% | $483,326 +2% |
| 2014 | $7,296 | $473,859 +4.5% |
| 2011 | -- | $453,403 +0.8% |
| 2010 | -- | $450,016 -0.2% |
| 2009 | -- | $451,086 +2% |
| 2008 | -- | $442,242 +4% |
| 2006 | -- | $425,072 +6% |
| 2003 | -- | $401,080 +2% |
| 2002 | -- | $393,217 +4% |
| 2000 | -- | $377,950 |
Find assessor info on the county website
Neighborhood: 91755
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Nearby schools
GreatSchools rating
- 8/10Emerson (Ralph Waldo) Elementary SchoolGrades: K-6Distance: 0.2 mi
- 8/10Garvey (Richard) Intermediate SchoolGrades: 7-8Distance: 0.5 mi
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- California
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- 91755
- 505 N New Ave
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