318 Lincoln Avenue, Monterey Park, CA 91755

Property Description

Welcome to 318 and 320 S Lincoln Ave. Discover an exceptional investment opportunity in the highly desirable area of Monterey Park! This property comprises three units, each featuring 2 bedrooms and 2 bathrooms: unit 318A and 318B offer approximately 1,100 sqft, while unit 320 provides approximately 800 sqft, all nestled on a generous 11,725 sqft FLAT lot. The front house consists of two units, 318A and 318B, each boasting its own private courtyard, laundry facilities, and water heater. Additionally, there's a third unit resides above the detached garage. The property also boasts an expansive backyard with potential for additional units, or re-development, buyer to verify. Currently, Unit 318A and 318B are tenant-occupied at $1,770 and $2,250 per month respectively, while the back unit is vacant, with a market rent potential of $2,500. Each unit comes with 2 outdoor parking spaces, with the garage spaces currently utilized by the owner. Tenants are responsible for their own utilities (water/trash, electricity, gas, internet), while the owner covers common area utilities (water/trash/electricity/gas) and gardening services. The property is equipped with 4 gas meters, 4 electric meters, 3 sub water meters, and 1 master water meter. New upgrades include AC, windows and water heaters. Additionally, back unit has been freshly painted after being recently vacated. Buyers are encouraged to verify all permits and explore the lot's development potential with the city. Conveniently located with easy access to schools, shopping centers, highways and recreational parks. Don't miss out