640 W Riggin Street

Monterey Park, CA 91754

$1,135,000

Sold Price
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bed Beds

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shower Baths

N/A sqft

straighten / sqft

1948

calendar_month Built

Property Description

We are pleased to exclusively offer for sale this 3 Unit multi-family property for sale in the prime rental location of Monterey Park. Strategically positioned within walking distance to Atlantic Square, residents enjoy easy access to a variety of restaurants and shopping outlets, along with proximity to the metro station, ensuring convenient transportation options. The subject property features a desirable unit mix of two 2-Bedroom/1-Bathroom units and one single-story 1-Bedroom/1-Bathroom unit. The property encompasses 2,442 rental square feet on a 6,941 square foot lot. Tenants are afforded an array of attractive amenities including garage parking, interior laundry hookups, and a shared picnic area, enhancing the quality of life and rental appeal. Each unit is responsible for their electricity and gas, optimizing cost efficiency for the owner. The property has been updated to copper plumbing as well. With a significant potential for a 20+% increase in rental income, this property stands out as an exceptional investment with promising upside in a dynamic rental market. Perfect for investors seeking a property in a high-demand area with strong growth potential and tenant amenities that drive competitive rental rates.

Listing Information

Close Price $1,135,000
Close Date Thursday, September 12th, 2024
Status Closed
MLS CV24158193
Type Residential Income
Subtype Apartment
Year Built 1948
Lot Size 6,941
Structure Size N/A
DOM 12
Courtesy Of RE/MAX 2000 REALTY
Listing Agent Kristopher German DRE#01800021

Interior Features

Laundry Information
Location(s) Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 12th, 2024 at 9:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.