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308 N Nicholson Ave

Monterey Park, CA 91755
  • $3,950,000
  • STATUS: Active
  • ON SITE: 41 Days
  • MLS #: 21-797078
UPDATED: 71 min ago
$3,950,000
  • 21
    BEDS
  • 0.39
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,684
    SQFT
  • $408
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1976
County:

School Ratings & Info

School District:

Description

We are pleased to present the opportunity to acquire 308 North Nicholson Avenue, a 10-unit multifamily asset in Monterey Park, a core market in the San Gabriel Valley. This 10 unit complex has a desirable location fundamentals minimize lease-up time and offers a new investor high rental potential with a stable resident profile. This strategically located, two-story structures were was built in 1976 and consists of 1 three-bedroom/two-bathroom units, 4 two-bedroom/one-bathroom units, and 5 two-bedroom/two-bathroom units. It offers 10 covered parking spaces and 10 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 is also a 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 and that has been well-maintained yet positioned for future renovation.***Also available is the next door sister property: 314 Nicholson. Inquire for info to purchase both properties together. 20 Units, 2 garage structures, $7,900,000

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. 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.
www.haciendagroupinc.com/homes/122614522
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308 N Nicholson Ave Monterey Park, CA 91755

  • Price: $3,950,000
  • Status: Active
  • On Site: 41 Days
  • Updated: 71 min ago
  • MLS #: 21-797078
21
Beds
0
Baths
0
½ Baths
0.39
Acres
9,684
SQFT
$408
$/SQFT
1976
Built
Neighborhood:
Monterey Park
County:
Los Angeles
Area:
Monterey Park
School District:
Los Angeles Unified
Property Description
We are pleased to present the opportunity to acquire 308 North Nicholson Avenue, a 10-unit multifamily asset in Monterey Park, a core market in the San Gabriel Valley. This 10 unit complex has a desirable location fundamentals minimize lease-up time and offers a new investor high rental potential with a stable resident profile. This strategically located, two-story structures were was built in 1976 and consists of 1 three-bedroom/two-bathroom units, 4 two-bedroom/one-bathroom units, and 5 two-bedroom/two-bathroom units. It offers 10 covered parking spaces and 10 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 is also a 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 and that has been well-maintained yet positioned for future renovation.***Also available is the next door sister property: 314 Nicholson. Inquire for info to purchase both properties together. 20 Units, 2 garage structures, $7,900,000
Exterior Features

Carport Spaces Total 0 Covered Parking 10 Cross Streets N Alhambra & E Garvey Garage Structures Total 1 Levels TwoMulti/Split Lot Description Lot-Level/FlatLot Shape-RectangularStreet PavedWalk Street Lot Size Area 17016 Other Structures Other Parking Garage Garage - 4+ CarGarage Is DetachedCovered ParkingGaragePrivate GaragePrivateAssigned Pool Description None Pool YN No Spa None Spa YN No Style Country English Tennis Court None Tennis YN No Total Parking 20 View Description Walk Street View YN Yes Water Frontage None

Interior Features

Baths Total 16.00 Common Walls Attached Cooling Air Conditioning Equipment Range/Oven Heating Other Laundry CommunityOther

Property Features

Assessed Total Value 985129 Gross Income 225828 Gross Operating Income 225828 Like Units1 1 Like Units2 3 Like Units3 2 Like Units4 2 Like Units5 2 Net Operating Income 137417.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Total Annual Expense 88411 Type Of Units Apartments Year Built Source Assessor Zoning Mpr3*

Listing provided courtesy of Kristin Neithercut DRE#02003278 of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. 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.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253