1251 College View Dr, Monterey Park, CA 91754
- $3,100,000
- 15
- BD
- 14
- BA
- 8,745
- SqFt
- List Price
- $3,100,000
- MLS#
- 24-380549
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 15
- Bathrooms
- 14
- Living Area
- 8,745
Property Description
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.
Additional Information
- Year Built
- 1959
- Garage
- Carport, Covered Parking
Mortgage Calculator
Courtesy of CB Richard Ellis, Inc., Priscilla Nee.
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