Seller's Agent in 2019
Shang Shang
Keller Williams - Los Feliz
(323) 300-1000
2 Total Sales
500 Everett Ave Monterey Park, CA 91755
13
Beds
8
Baths
5,389
Sq Ft
0.37
Acres
Highlights
- 0.37 Acre Lot
- Fireplace in Kitchen
- Laundry Room
- Repetto Elementary School Rated A
- No HOA
- Carpet
About This Home
As of October 2019pleased to present a unique multifamily investment located at 500 Everett Avenue, Monterey Park, California. The five unit property consists of 1-4 bedroom/3 bathroom, 1–3 bedroom/2 bathroom, and 3–2 bedroom/1 bathroom stand-alone individual units with no common walls. With combined 5,389 square feet of leasable space and is situated on a 16,330 square foot lot. Built in 1963, it garners a substantial value add investment opportunity for seasoned investors. Current owner has not remodeled or made any improvements over the years and all the units are occupied by long term tenants. This small multifamily investment opportunity is tailored for value-add opportunity. Current rents for all units are well below market rates. Two units, specifically the 4 and 3 bedroom units, have their own interior laundry hookups while the remaining three (3) 2 bedroom units have access to coin laundry machines. The property's location is most prevalent and the property being located in a non-rent control city. The property is located in close proximity to the Interstate 10 Freeway, local dining, shopping, markets, and entertainment. Monterey Park is neighboring Los Angeles, Alhambra, South San Gabriel, Rosemead, and Montebello. It has been sprawled by investors seeking to capitalize on the city’s locational benefit of being adjacent to downtown LA. Buyer to verify all information. Property sells at as-is condition.
Last Agent to Sell the Property
Keller Williams - Los Feliz License #02040393 Listed on: 07/26/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 0.37 Acre Lot
- No Common Walls
Parking
- 2 Car Garage
- 5 Carport Spaces
Interior Spaces
- 5,389 Sq Ft Home
- 1-Story Property
- Free Standing Fireplace
- Electric Fireplace
- Gas Fireplace
- Entryway
- Family Room with Fireplace
- Living Room with Fireplace
- Carpet
- Fireplace in Kitchen
Bedrooms and Bathrooms
- 13 Bedrooms
- 8 Bathrooms
Laundry
- Laundry Room
- Washer
Location
- Suburban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 14
- Tax Tract Number 1972
- Assessor Parcel Number 5259002062
Community Details
Overview
- No Home Owners Association
- 5 Buildings
- 5 Units
- Valley
Amenities
- Laundry Facilities
Building Details
- 6 Separate Electric Meters
- 5 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $120
- Fuel Expense $120
- Insurance Expense $1,900
- Water Sewer Expense $6,157
- New Taxes Expense $27,808
- Operating Expense $37,507
- Gross Income $82,800
- Net Operating Income $45,293
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/23/2019 10/23/19 | Sold | $1,920,000 | -6.3% | $356 / Sq Ft |
| 09/24/2019 09/24/19 | Pending | -- | -- | -- |
| 08/28/2019 08/28/19 | Price Changed | $2,050,000 | -6.8% | $380 / Sq Ft |
| 07/26/2019 07/26/19 | For Sale | $2,200,000 | -- | $408 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $28,188 | $2,121,564 | $1,436,386 | $685,178 |
| 2024 | $28,188 | $2,079,966 | $1,408,222 | $671,744 |
| 2023 | $27,531 | $2,039,183 | $1,380,610 | $658,573 |
| 2022 | $26,248 | $1,999,200 | $1,353,540 | $645,660 |
| 2021 | $25,691 | $1,939,891 | $1,313,468 | $626,423 |
| 2020 | $25,557 | $1,920,360 | $1,300,000 | $620,360 |
| 2019 | $18,262 | $1,349,882 | $874,691 | $475,191 |
| 2018 | $18,160 | $1,323,422 | $857,541 | $465,881 |
| 2016 | $16,763 | $1,271,689 | $824,243 | $447,446 |
| 2015 | $16,507 | $1,252,588 | $811,863 | $440,725 |
| 2014 | $16,297 | $1,228,052 | $795,960 | $432,092 |
Source: Public Records
Agents Affiliated with this Home
-
Shang Shang
-
Xiao Ling Li
X
Buyer's Agent in 2019
Xiao Ling Li
Sky Terrace Incorporation
(310) 593-3028
6 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: TR19178401
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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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