Seller's Agent in 2023
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
1 in this area
143 Total Sales
308 N Nicholson Ave Monterey Park, CA 91755
8
Beds
7
Baths
19,368
Sq Ft
0.8
Acres
Highlights
- 0.8 Acre Lot
- Lawn
- Level Lot
- Repetto Elementary School Rated A-
- Laundry Room
About This Home
As of February 2023Nicholson Villa is a 20-unit multifamily investment property located in Monterey Park, CA. Nicholson Villa offers an attractive unit mix consisting of one, two, and three-bedroom floor plans and amenities including gated access, ample surface and garage parking, walk-in closets, private patios or yards, and on-site laundry. Current ownership has completely renovated 4 units with improvements including new shaker-style cabinets, granite countertops, plumbing fixtures, flooring, and more. Nicholson Villa has an excellent Monterey Park location within walking distance to the abundance of retail, dining, and entertainment options at the intersection of North Garfield Avenue and East Garvey Avenue. The property is located within close proximity of major economic and housing drivers for the region including Garfield Medical Center as well as multiple higher education institutions. Additionally, the property is situated less than 0.5 miles from Interstate 10, providing residents with convenient access to employment and leisure destinations in the city of Los Angeles as well as the San Gabriel Valley.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 09/29/2022
Last Buyer's Agent
Marcus & Millichap RE Invest License #01451551 Listed on: 09/29/2022
Property Details
Home Type
- Apartment
Year Built
- Built in 1976
Lot Details
- 0.8 Acre Lot
- No Common Walls
- Level Lot
- Lawn
- 5255019021
Parking
- 20 Open Parking Spaces
- 20 Car Garage
Interior Spaces
- 19,368 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 7 Bathrooms
Listing and Financial Details
- Tax Lot 33
- Tax Tract Number 481
- Assessor Parcel Number 5255019022
- $2,978 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 20 Units
Amenities
- Laundry Facilities
Building Details
- 20 Leased Units
- Rent Control
- 20 Separate Electric Meters
- 20 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $9,697
- Fuel Expense $9,697
- Insurance Expense $5,873
- Maintenance Expense $12,000
- Other Expense $21,257
- Professional Management Expense $20,093
- Trash Expense $9,697
- Water Sewer Expense $9,697
- New Taxes Expense $96,377
- Operating Expense $194,388
- Gross Income $517,740
- Net Operating Income $307,945
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/07/2023 02/07/23 | Sold | $6,200,000 | -20.5% | $320 / Sq Ft |
| 11/28/2022 11/28/22 | Pending | -- | -- | -- |
| 09/29/2022 09/29/22 | For Sale | $7,795,000 | -- | $402 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Tyler Leeson
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC22212457
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