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Priscilla Nee
CB Richard Ellis, Inc.
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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.
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Total Bedrooms : 15
Total Baths: 14
Full Baths: 0
Half Baths: 0
Fireplace: None
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1959
Building Area Total: 8,745
Construction: Frame,Stucco,Wood Siding
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3488
Lot Size Source: Assessor
Lot Size Square Feet: 15192
Original List Price: 3,100,000
Listing Contract Date: 2024-04-16
Listing Agreement: Seller Reserved
Parcel Number: 5253033043
Garage Description: Covered,Carport
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 641 - Monterey Park
Postal Code Plus 4: 6126
Directions: Located just west of Atlantic Boulevard, between Floral Drive and Brightwood Street.
Zoning: MPR3YY
Source Property Type: Residential Income
Area: 641 - Monterey Park
Property Age: 65
Year Built Source: Assessor
Total Square Feet Living: 8745
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Garvey, Monterey Park, CA,91754 | $598,800 | -- | -- | -- | 23097 Sqft |
1499 Ridgecrest Street, Monterey Park, CA,91754 | $13,850,000 | -- | -- | 40,058 | 55414 Sqft |
Atlantic Boulevard, Monterey Park, CA,91754 | $299,000 | -- | -- | -- | 9980 Sqft |
708 Rodman, Monterey Park, CA,91754 | $599,000 | -- | -- | -- | 11011 Sqft |
419 N Chandler Avenue #.., Monterey Park, CA,91754 | $715,800 | 2 | 2 | 1,095 | 87942 Sqft |
419 N Chandler Avenue #.., Monterey Park, CA,91754 | $763,000 | 2 | 2 | 1,153 | 84123 Sqft |
419 N Chandler Avenue #.., Monterey Park, CA,91754 | $738,000 | 2 | 2 | 1,153 | 84123 Sqft |
419 N Chandler Avenue #.., Monterey Park, CA,91754 | $723,000 | 2 | 2 | 1,153 | 87942 Sqft |
325 W Hammel Street, Monterey Park, CA,91754 | $829,999 | 3 | 2 | 1,298 | 5257 Sqft |
419 N Chandler Avenue #.., Monterey Park, CA,91754 | $625,000 | 1 | 2 | 844 | 84123 Sqft |
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ByOwner last updated this listing 05/06/2024 @ 10:21
MLS: 24380549
LISTED BY: Priscilla Nee, CB Richard Ellis, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.