NOT LISTED FOR SALE

319 N Garfield Ave Monterey Park, CA 91754

10 Beds
19 Baths
12,381 Sq Ft
0.59 Acres

Last Sold July 07, 2022

Last sale price $5,150,000 $416 Per Sq Ft

1 Day on Market

Highlights

  • 0.59 Acre Lot
  • No HOA
  • Park
  • Ynez Elementary School Rated A-
  • Cooling System Mounted To A Wall/Window
  • Laundry Room

About This Home

As of July 2022

19-unit apartment located next to the Garfield Hospital and close to markets banks and restaurants. MPC3 commercial zone. New roof, new exterior paint in 2021. Current rents are comparatively low; good potential for upward adjustment of property value in future rent increases. Separate meters for electricity and gas for each individual unit. On site laundry room. Property to be sold in As Is condition. Seller is not required to do any additional repairs and/or replacement works for the building. Seller reserves all services.

Last Agent to Sell the Property

Paul Luke

PAULTEC INVESTMENT CO. License #00672345 Listed on: 05/13/2022

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 0.59 Acre Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Level Lot
  • Front Yard
  • Density is 16-20 Units/Acre

Home Design

  • Apartment
  • Raised Foundation
  • Fire Rated Drywall
  • Shingle Roof
  • Stucco

Interior Spaces

  • 12,381 Sq Ft Home
  • Blinds
  • Gas Range
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 19 Bathrooms

Parking

  • 22 Parking Spaces
  • 22 Carport Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Floor Furnace
  • Natural Gas Connected
  • Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 127
  • Tax Tract Number 481
  • Assessor Parcel Number 5255005003
  • $4,501 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 19 Units

Amenities

  • Laundry Facilities

Recreation

  • Park

Building Details

  • 19 Leased Units
  • Rent Control
  • 19 Separate Electric Meters
  • 19 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $837
  • Gardener Expense $2,600
  • Insurance Expense $5,803
  • Professional Management Expense $9,801
  • Trash Expense $1
  • Water Sewer Expense $9,529
  • Operating Expense $26,992
  • Gross Income $294,559
  • Net Operating Income $203,253

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Other Phone Number: 6268231092
  • Price Per Unit: 278316
  • Professional Management Expense: 9800.70
  • Property Attached: Yes
  • Water Sewer Expenses: 9529.00
  • Zoning: MPC3*
  • Property Type: Residential Income
  • Gardener Expense: 2600.00
  • Parcel Number: 5255005003
  • Year Built: 1955
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Price Per Square Foot: 415.96
  • Window Features: Blinds

Exterior Features

  • Foundation: Raised
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Drywall Walls, Stucco

Garage/Parking

  • Carport Spaces: 22.00
  • Total Parking Spaces: 22.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range, Water Heater
  • Electric: Electricity - On Property
  • Heating Type: Floor Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Park

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre, Front Yard, Level with Street
  • Lot Size Sq Ft: 25528.00
  • Lot Size Acres: 0.5860
  • Latitude Manual: 34.06570500

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 837.31
  • Gross Income: 294559.00
  • Gross Scheduled Income: 293460.00
  • Insurance Expense: 5803.00
  • Laundry Income: 1099.00
  • Lot Size Area: 25528.0000 Square Feet
  • Net Operating Income: 203253.00
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 19
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 19
  • Number Of Units Total: 19
  • Number Wall A C: 14
  • Number With Disposal: 19
  • Number With Range: 19
  • Operating Expense: 90206.00
  • Rent Control: Yes
  • Total Actual Rent: 24455.00
  • Total Expenses: 26992.11

Tax Info

  • Tax Census Tract: 4817.14
  • Tax Lot: 127
  • Tax Tract Number: 481...
  • TaxOtherAnnualAssessmentAmount: 4501.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/07/2022 07/07/22 Sold $5,150,000 -2.6% $416 / Sq Ft
05/13/2022 05/13/22 For Sale $5,288,000 -- $427 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2022

    Paul Luke

    PAULTEC INVESTMENT CO.

    Section Image

  • N

    Buyer's Agent in 2022

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    5 in this area

    5,824 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS22101547

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Monterey Park 91754

319 N Garfield Ave, Monterey Park, CA

This home is located at 319 N Garfield Ave, Monterey Park, CA 91754 since 13 May 2022. This property was built in 1955. 319 N Garfield Ave is a home located in Los Angeles County with nearby schools including Ynez Elementary School, Mark Keppel High School, and St. Stephen Martyr School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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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